News / Africa's infrastructure: Time for transformation. Private participation needed

Africa's infrastructure: Time for transformation. Private participation needed

🕔 September 27, 2010

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How are you doing?I'm bringing you a report elaborated by the World Bank and the Agence Française de Développement (editors: Vivien Foster and Cecilia Briceño-Garmendia) called Africa's Infrastructure: Time for transformation.You can get it here.It's impressive to see something we all know but that in figures sounds like a bigger deal. A substantial infrastructure financing gap of $31 billion a year remains to catch with infrastructure investment needs. Such a large shortfall looked daunting even before the onset of the global financial crisis.Power is by far Africa's largest infrastructure challenge, with 30 countries facing regular power shortages and many paying high premiums for emergency power.
Existing spending is higher than previously thought. African governments, infrastructure users, the private sector, and external sources together already contribute about $45 billion to directly address the infrastructure needs previously identified.But Africa needs more private participation and investment. Government are looking for PPPs but multilateral assistance is needed in order to implement the right legal frameworks and to assist with funding and financing.

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