Fiber Optic Project: Port Sudan to Durban

Kenya's telecommunication sector will receive a boost as a result of Sh32 billion (347 million euros) financing mobilised for infrastructure development in Africa.
The European Commission, the European Investment Bank (EIB) and nine European countries have set up a fund to finance the continent's telecommunication infrastructure.

The Infrastructure Trust Fund for Africa will back New Partnership for Africa's Development (Nepad) projects as such as the East Africa Submarine Cable System (known as Eassy).
Financing for each project and when the money will be released has not been decided.
The 9,900 km Eassy cable is set to run from Port Sudan in the north to Durban, South Africa and will complete the fibre optic loop surrounding Africa.

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Infrastructure Trust Fund for Africa

05/03/2007

On 23 April, European Commissioner for Development and Humanitarian Aid, Louis Michel, the representatives of Austria, Belgium, Spain, Italy, the Netherlands, Luxembourg, France, Germany and Greece, and the President of the European Investment Bank, Philippe Maystadt, signed a memorandum of understanding setting up a trust fund to finance infrastructure in Africa.

The Trust Fund is a financial instrument of the EU-Africa Infrastructure Partnership, one of the pillars of the new EU Strategy for Africa adopted by the European Council in December 2005. In the 2006-2007 start-up phase, the Community and its Member States have mobilised EUR 87 million for the Fund, and the EIB has made available EUR 260 million in the form of loans.

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