Costed Action Plan for SADC Industrialization Strategy and Roadmap (ii) SADC Secretariat should be strengthened and empowered. 10. Financing the Action Plan Funding the Industrialization Strategy is an enormous undertaking and is of long term nature that must be situated within a long term macroeconomic stability perspective. The Action Plan projects that the overall financing development gap would rise to 19.2 percent of GDP in 2030, rising from 11.3 percent in 2014, which underscores the need for deploying major efforts to increase savings, increase capital efficiency and non-debt creating external resource flows. Recommendations (i) Urgently develop a resource mobilization strategy to support industrial development. (ii) Recognize that the greater source of funding will come from the private sector, which provided the bulk of resources in the period 2000-2014. (iii) Operationalize, without delay, a fully resourced SADC Regional Development Fund. (iv) Capital markets should be strengthened with focus on industrial financing. There should be specific measures to increase the flow of risk capital to SMEs. (v) Exploit the financing and operational potential of Public-Private Partnerships (PPPs). (vi) Explore potential of innovative financing, such as the Diaspora resources. 11. Next Steps The implementation of the Action Plan requires immediate and medium-term priority actions. These primarily include: 1. Operationalization of the Industrial Governance Structure. 2. Undertaking well-targeted and sustained popularization and communication strategy to promote industrialization. 144