Infrastructure is key to development,the Regional Coordinator of the World Infrastructure Summit for Africa and the President of Initiative for Infrastructure and Modern City Development IIMCD Nigeria, Mr .Daniel Omonze has lamented that the demand for infrastructure is outstripping supply all over the world, saying new strategies must be devised to address the deficit.
Omonze said according to Financial Times In 2011 $427bn of infrastructure were financed world-wide –in stark contrast only $71bn has been raised by the end of April 2012.
Omonze in a statement said infrastructure funding will be at the forefront as government officials from Nigeria, North/South America, United Kingdom, Europe ,Asia and Africa meet at the 3rd world infrastructure summit taking place at the Ramada Apollo, Amsterdam holding on the 14th and 15th of November 2012.
“With such a sharp decrease resulting from a fragile global economy and the knock on effects leading to a retreat by project finance lenders, it has become even more vital to know exactly where, and from whom, future funding will be found,as well as what the real bankable project pipeline will look like.
As the impact of regulatory changes, the pool of those with the capacity to lend long term is decreasing and the void is palpable. This coupled with sovereign risk and a lack of visibility as to where projects will emerge from and who will bring these to market in a form that is attractive to investors is a cause of concern.“
He added that the event has been tailored to meet with the expectations ofparticipants with the newly introduced Peer-to-Peer presentation roundtable;participants will have one on one meeting with infrastructure projects financiers and developers they wish to meet.
He said governments will have the opportunity to submit their project pipelines to us via a ‘deal sheet’ which will contain vital information on topics including and collate this information into an ‘IJ DEAL BOOK’ which will be presented to delegates at the Summit.
The event will attract over 250 key decision makers for those working to fund global infrastructure projects from around the world, together with Governments, sponsor/developers and institutional investors will form the core of the delegate audience, which will be complemented by banks, financial advisers, legal advisers, infrastructure funds, technical advisers and other organisations key to the successful delivery of any infrastructure project.
The IIMCD Boss also stated that the World Infrastructure Summit Gala Dinner tagged‘’An Evening with the government of Nigeria’’ has been dedicated to the government of Nigeria to highlight its plan to fill the over $150b infrastructure funding gap before the year 2020.
The gala dinner is organised by Infrastructure Journal UK in association with the Initiative for Infrastructure and Modern City Development (IIMCD Nigeria) and hosted by Ceezali Limited, the Nigerian Television Authority (NTA) as its media partner and Air France KLM official air carrier.