Ramaphosa speeds up funding for infrastructure
President Cyril Ramaphosa is moving at speed to try and secure funding for infrastructure development in the country, including for the Infrastructure Fund.
Ramaphosa disclosed in his State of the Nation Address (Sona) last week that the Infrastructure Fund has a project pipeline of potential investments of over R700 billion over the next 10 years.
To assess the progress of efforts to intensify infrastructure investment, Ramaphosa met with key stakeholders – including government financiers, CEOs of commercial banks, leaders of multilateral development finance institutions and representatives from organised business, along with infrastructure-orientated industry players – under one roof for the first time on Tuesday.
In his opening remarks to the meeting, Ramaphosa said overall infrastructure investment in South Africa needs to grow from about 13% of total spending to 30% by 2030 to achieve the National Development Plan (NDP) growth targets.
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