In response to the Commission for Africa report, the UK played a key role in establishing the Infrastructure Consortium for Africa (ICA). This major new effort to accelerate progress towards meeting the infrastructure needs of Africa was inaugurated in London on
The UK has committed $20 million over three years to help with the initial work of the ICA. We have also seconded an individual to the secretariat which has been set up in the African Development Bank.
Many commentators suggest that the problem is not just a shortage of funds but a lack of good projects to fund. The ICA has an important role in helping prepare good projects and demonstrating that sound, sustainable infrastructure projects will secure funding. Improving donor and private sector confidence in the sector to deliver good infrastructure is likely to have a significant positive impact on future funding. Progress on financing has already been made. Key donors have announced new resources or signalled their intention to increase resources, amounting to around an additional $2 billion annually.