[ad_1]
Published on
27.11.2018 at 20:21
by
APA News
The railways are key to open and free trade in Africa and their development is critical to the continent's sustainable development agenda, said Soteri Gatera, head of Industrialization and Infrastructure at the Economic Commission for Africa. Africa (CEA).
At a presentation at the PIDA Week 2018 in Victoria Falls, Zimbabwe, Mr Soteri said that Africa badly needed an integrated railway network, from as much more than its roads can contain the growing load of trucks carrying goods across the continent.
"The lack of integrated African railway networks is holding back African growth and intra-continental trade," he said, adding that transporting passengers and freight on high-speed rail networks was vital for environmental reasons, social and economic
This requires billions of dollars in investment infrastructure and rolling stock, but state resources are limited.
"There is an urgent need for more rolling stock. It is clear that states can not bear the burden alone and that private entrepreneurs and private capital are needed to make this dream come true, "said Soteri in his presentation entitled The Luxembourg Rail Protocol: Financing Rolling Stock rail – A new solution for Africa.
The Luxembourg Protocol, adopted in 2007 but not yet in force, creates a new global legal regime to secure creditors, making it easier to finance more and cheaper assets-based rail equipment without the help of credit. ;State.
Four ratifications and one international register are ready to enter into force.
The European Union, Gabon, Luxembourg and Sweden are the only ones to have ratified the protocol so far.
Italy, Germany, France, Mozambique, Switzerland and the United Kingdom have signed but have not yet ratified.
Finland and Malta have indicated that they will sign shortly.
The protocol should be in force in the Contracting States by the end of 2019.
[ad_2]
Source link
