More red tape is being done away with to speed up the implementation of infrastructure projects. | Fin24
The Infrastructure Fund will now be listed as a budget item and will be subject to a vote.Minister of Public Works and Infrastructure Patricia De Lille and head of Infrastructure South Africa Dr Kgosientsho Ramokgopa on Tuesday provided an update on the progress of the Infrastructure Investment Plan. They addressed issues such as the financing of projects and efforts to overcome delays.
Over the next three years, R24 billion has been allocated to the Infrastructure Fund, for blended financed projects.Currently, the Infrastructure Fund receives submissions for projects that require blended finance, Ramakgopa explained. These submissions are evaluated by the Infrastructure Investment Committee, which is chaired by De Lille.
Among the projects submitted to the BFI include four student housing infrastructure projects - with a cost of over R3 billion. The BFI approved R900 million from the Infrastructure Fund for these projects, over two financial years. The social housing programme, with a cost of R1.1 billion, was also considered by the BFI, which approved R304.5 million for it over two financial years.
Ramakgopa further unpacked the significance of the change. He explained that the BFI meets in August each year, and the projects go through the"same level of scrutiny" that they had been subject to through the Infrastructure Investment Committee's process. Essentially it is a duplication.
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