Dakar Summit has highlighted numerous projects, including the promising project of VICMED. VICMED is a project that seeks the establishment of a navigational line between Lake Victoria and the Mediterranean Sea.
In his speech, Transport Minister Kamel el-Wazir referred to Egypt’s efforts to finance the Victoria-Mediterranean Navigation Corridor project. According to the minister, the pre-feasibility studies were funded by $500,000 from the Egyptian government.
In addition, Egypt coordinated with the African Development Bank to finance the first phase of feasibility studies, with an amount of $650,000.
“An agreement is being finalised between Egypt and the African Development Bank to provide an amount of $2 million to fund part of the second phase of the feasibility studies,” the minister said.
Minister El-Wazir also revealed that Egypt will provide an amount of 100 thousand dollars to cover the expenses of establishing the regional project management unit in Cairo.
In a related context, Dr Tahani Silet, The Project Director and Head of External Co-operation at the Ministry of Water Resources and Irrigation, explained that around 11.7 million dollars are required for feasibility studies. The project is under feasibility stage-Phase 2.
“We dream about one continent, one river and one people. We dream about boat that is taken from Lake Victoria until the Mediterranean. Let us dream of Africa without borders ,” she said.
The strategic objective of this project is to achieve socio-economic integration and cohesion besides offering cheaper transport alternative.
VICMED also seeks to reinforce region’s position With the global economic system, allowing more co-operation and enhancing integral in regional integration.
According to Silet, VICMED is multimodal transport system that seeks to enhance trade and tourism besides reducing poverty. VICMED project is to connect the footprint countries by relatively low-cost and natural transport, a matter that makes it energy efficient and environmentally friendly. This is in addition to providing opportunities for landlocked countries.
Regarding the main phases of the project, Silet pointed out that Egypt took the responsibility to fund the pre-feasibility study as it is championing this project.
“The results of the previous study prove that the project is promising.”
