Even as crews put the finishing touches on newly built roads, ports, and power stations across Africa, the continent’s people and its growing economies are demanding more.
Africa’s continued reform programs and IFC’s strategy are coming together at an unprecedented scale in 2012, when IFC will for the first time invest and mobilize more than $1 billion in private infrastructure in Africa. This is up from just $200 million five years ago, making IFC a leading investor in the sector.
IFC’s focus is on the building blocks of any modern economy: ports, railways, telecoms, and power, including renewable energy.
A shortage of funding sinks some development in Africa, but a more serious hurdle is a lack of know-how to develop and guide infrastructure projects so governments can benefit from private sector expertise, management, and finance.
This is where IFC is leading the way. Developing deals requires time, effort, experience, and the ability get the right balance between private and public interests. IFC has successfully advised African governments, including local municipalities, on ways to engage the private sector in essential public services, and on how to restructure state-owned enterprises. (cont International Finance Corporation)