A Multilateral Cooperation Center for Development Finance (MCDF) delegation led by CEO Zhongjing Wang held bilateral meetings with senior officials at the National Treasury of South Africa on 10 March in Pretoria. They discussed opportunities to advance connectivity infrastructure project preparation and delivery through greater engagement.
CEO Wang, accompanied by MCDF’s Monde Nyambe and Mr. Erick Mariga, met South Africa Deputy Finance Minister Dr. David Masondo. The Deputy Minister welcomed MCDF’s partnership approach to promoting sustainable, high-quality connectivity investment based on International Financial Institution (IFI) standards. It aligns with the country’s development priorities such as strengthening climate resilience, digital infrastructure, and institutional capacity to take projects forward, he said.
CEO Wang thanked Deputy Minister Masondo for his interest in deepening cooperation with MCDF and echoed this call. He explained that MCDF’s project preparation, capacity building, and information-sharing activities are supported by USD77.6 million in MCDF grants covering 59 projects, with 43% of this grant funding distributed in Africa and MCDF grants collectively leveraging USD12.7 billion in infrastructure investment worldwide. MCDF’s 14 IFI partners also provide support for knowledge sharing and collaboration aimed at fostering the application of IFI standards and good practices, he added.
“South Africa has both the scale of ambition and the institutional foundation to drive transformative connectivity infrastructure development,” said CEO Wang. “MCDF is well-positioned to support this agenda through the increasing size and scope of its partnership activities to unlock connectivity infrastructure investment in projects that are of high quality and have a high impact,” he continued.
CEO Wang and his team also met Dr. Duncan Pieterse, Director-General of South Africa’s National Treasury. Director-General Pieterse said financing for the country’s infrastructure pipeline is available but that addressing upstream project preparation gaps is key to accelerating implementation. He expressed his desire to work with MCDF to help meet this need and ensure a strong pipeline of bankable projects.
CEO Wang affirmed MCDF’s commitment to working closely with South Africa to identify projects for potential grant support and explore opportunities for information and knowledge-sharing collaboration.
Contact
David Hendrickson
Senior Communications Officer
Mobile: +86 185 0114 6758
david.hendrickson@themcdf.org
