SADC Regional Bloc Needs Money Boost for Infrastructure Plan
SADC member states must raise an estimated US$65 billion for short-term financing of an infrastructure plan for the energy, transport, water, information and technology, meteorology and tourism sectors, reports southerntimesafrica.
The regional bloc agreed on a five-year infrastructure master plan in 2012.
A major infrastructure project that could boost commerce in the region is the expansion of Walvis Bay Port.
It is important to note that the Walvis Bay Port project is not only important for Namport but for Namibia and all SADC countries at large. The current Port of Walvis Bay acts as a gateway into Southern Africa and is in desperate need of expansion since current cargo handling capabilities are reaching the upper limit of our existing capacities.
Ultimately, the development of the port of Walvis Bay and the Walvis Bay corridors is clearly an advantage to accelerate growth for Namibia and the SADC region by offering Southern Africa an alternative gateway.
The Logistics Hub concept forms part of the greater efforts of the Walvis Bay Corridor Group to develop the Walvis Bay corridors as the preferred trade route for Southern Africa.
Dredging Today Staff, July 8, 2013