EU lends support to SA’s infrastructure development plans

Source: https://www.sanews.gov.za/south-africa/eu-lends-support-sas-infrastructure-development-plans

European Union (EU) Deputy Head of the Delegation to South Africa, Raul de Luzenberger, says the union is lobbying for R170 million to be dedicated to infrastructure development in South Africa.

He was speaking during a webinar on the impact of the EU funded Infrastructure Investment Programme of South Africa (IIPSA).

IIPSA is aimed at fast tracking infrastructure delivery in municipalities by using a blended project financing approach involving EU grants, government and the private sector.

“South Africa has placed infrastructure development at the core of socio-economic recovery. Like in the EU… socio-economic recovery is critical. Hence, we look forward to working together to accelerate the roll out of much needed infrastructure for the country, especially at municipal level.

“An additional R170 million for an infrastructure technical assistance facility is being mobilised to help boost sustainable development by supporting capacity and by stimulating innovative investment models, including at local level,” De Luzenberger said.

He said through IIPSA, the European Union has provided at least R1.7 billion to “support infrastructure investment” in the country in total.

“Through IIPSA, the programme has already contributed to projects with a high socio-economic return by [adding to] the financial feasibility and project quality, and by reducing the risk associated with the projects.

“Most importantly, it [increased] knowledge on innovative blended finance by demonstrating that [combining] the strategically contributing EU grants with public and private financing, it can have a catalytic effect and make a fundamental difference,” De Luzenberger said.

One of the projects completed by the programme include the construction of the Fort Hare University student accommodation.

“[It] made it able and possible to address the acute student accommodation shortage, build a safe and conducive environment and contribute to the surrounding community,” De Luzenberger said.

Contact sales@cbn.co.za to enquire about our digital marketing options
Contact sales@cbn.co.za to enquire about our digital marketing options