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Mkapa appeals to donors to honour funding pledges
2006-06-03 09:20:24
By Special Correspondent
Retired President Benjamin William Mkapa has called on donor countries to make good their promises to contribute to the African Investment Climate Facility.
Mkapa made the call yesterday at the inauguration of the facility at the ongoing World Economic Forum for Africa summit in Cape Town, South Africa.
Mkapa is co-chairman of the fund, an offshoot of the British Prime Minister Tony Blair’s Commission for Africa in which he is a commissioner.
The establishment of the fund has received the support of world’s eight richest nations, the G8.
He appealed to donor countries to join forces and contribute to the fund to boost investments in Africa.
’’Few rich nations and international financial institutions have contributed to the fund or made pledges,’’ Mkapa said.
President Jakaya Kikwete is among the world leaders who attended the inauguration of the fund that has received US$150 million so far.
Mkapa promised to enhance transparency, openness and accountability in the management of the fund.
’’Donors have the obligation to monitor the implementation of the fund’s activities,’’ he said.
He added: ’’The fund board consists of committed, devoted, determined and dedicated people to speed up the development of African countries,’’ he added.
Responding to a question from a participant, the former president hailed the political will of African leaders to improve the investment climate on the continent.
The fund’s other co-chairman, Nial Fitzgerald, who chairs the Reters and is also a board member of the World Economic Forum, said the fund’s major objective is to overcome obstacles to potential investments in Africa.
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