According to Jorge Cardoso, spokesman for the SADC Summit of Heads of State and Government, scheduled for 17 August in Luanda, the meeting will also discuss the execution of the 96 planned projects.
He put at around US$1 billion the budget estimate needed, as the regional financing fund will be one of those tools, as a facilitator.
In his speech, Jorge Cardoso added that the regional development fund envisages a capitalisation of US$3 billion.
The value will be earmarked for funding priority projects in the region and allow each country to contribute a share of this capital.
The meeting is also analysing financial issues of the mission based in Cabo Delgado, Mozambique, to fight against armed insurrection, since 2021.
In order to secure this mission, the official announced a financial proposal of US$42 billion to be co-participated by all Member States.
As for the situation in the Democratic Republic of the Congo (DRC), he said that there is greater demand on the contribution of Member States for a budget above 500 million dollars, in order to deploy a mission in the region.
During the Summit of Heads of State and Government, Angola is expected to take over from DRC at the helm of SADC, until August 2024.
SADC comprises Angola, South Africa Botswana, Comoros, Democratic Republic of Congo (DRC), Eswatini, Lesotho, Madagascar, Malawi, Mauritius, Mozambique, Namibia, Seychelles, Tanzania, Zambia and Zimbabwe.
Source: Angola Press News Agency (APNA)