UNIDO, European Commission to boost capacity-building of Investment Promotion Agencies in sub-Saharan Africa
BRUSSELS, 10 May 2011 – The United Nations Industrial Development Organization (UNIDO) and the European Commission sealed a EUR 1,6 million agreement today to boost the capacity-building of the Investment Promotion Agencies (IPA) in sub-Saharan Africa.
The project, which starts this month and is scheduled to wrap-up early 2012, will be carried out in 19 countries in sub-Saharan Africa. It is one of two projects funded by the European Commission and the Government of Finland which was designed to strengthen the capacity of the local IPAs.
In particular, the IPAs and other institutions in selected sub-Saharan African countries will be able to expand foreign and domestic investment and to maximize the impact of Foreign Direct Investment on sustainable and equitable growth and poverty reduction, enhance competitiveness of the manufacturing and service sectors in order to capture export markets, and achieve greater integration with global value chains and regional economic markets.
The project builds on an initial EU contribution of EUR 2.8 million and is one of several that make up UNIDO’s Regional Programme for Investment Promotion in Africa to which the governments of South Africa, Italy, Austria, Finland and Turkey also contribute.
The overall Programme, developed jointly with the Africa Investment Promotion Agency Network (AfrIPANet), will use an investor survey database to help IPAs assess the impact foreign investments, enable them to make evidence-based policy recommendations and to support informed promotion of foreign and domestic investments.
It will also be a platform for monitoring of investment flows and for better targeting and servicing of investors.
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Chief, Investment and Technology Unit