Luanda — Angolan Minister of Foreign Affairs Téte António on Wednesday assessed the organizational status of the 3rd Luanda Summit on Financing for Infrastructure Development in Africa, to be held from October 28 to 31 in Luanda.
The assessment took place during a meeting the Angolan foreign Minister held with a delegation from the African Union Development Agency - New Partnership for Africa's Development (AUDA-NEPAD), led by Executive Director Nardos Bekele-Thomas, where they discussed relevant aspects of the event's preparations.
Téte António thanked AUDA-NEPAD for the productive and constructive collaboration with the national authorities, within the scope of the preparations for the Luanda Summit, as well as the strengthening of cooperation between Angola and AUDA-NEPAD, with a focus on the implementation of Agenda 2063 and concrete measures for the operationalization of the African Union Development Fund (AUDF).
The 3rd Summit on Financing for Infrastructure Development in Africa plans to mobilize up to 160 billion US dollars, to address the current gap in terms of funds for the construction of structural projects on the African continent.
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More than two thousand delegates are expected to participate in the event, including heads of State and Government, ministers from different departments and representatives of financial institutions, in a symbolic year in which Angola celebrates 50 years of National Independence, highlighting progress in infrastructure and the commitment to Agenda 2063 of the African Union (AU).
The Summit will take place within the framework of Angola's presidency of the AU and aims to promote public-private partnerships, as well as boost sustainable investment in critical infrastructure.
The program includes business forums, bilateral meetings and thematic sessions on sustainable financing and regional integration on the African continent.
During the Summit, the Political Declaration of Luanda will be adopted, a document that will bring together the commitments made at the event.
AUDA-NEPAD is a technical body of the African Union (AU), created to boost sustainable development and regional integration on the African continent. It was created in 2001, as an initiative led by African countries, to promote economic growth, sustainable development, the eradication of poverty and the integration of Africa into the global economy.
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Its transformation from NEPAD to AUDA-NEPAD in 2018 made this AU development agency a body with a clearer and more institutionalized technical mandate.
AUDA-NEPAD coordinates and implements development projects in areas such as agriculture, food security, infrastructure (transport, energy, ICTs), health, education, technical training, science and technology, industrial development, climate change, environment, governance and institutional development.
Its main objective is to promote African-led development, with a focus on sustainable and regional solutions, supporting African Union member countries to achieve development goals, such as Agenda 2063, Africa's long-term vision.
