A key priority is to help African countries invest in much-needed infrastructure by partnering with the private sector. The continent’s infrastructure needs are estimated at $93 billion, about 15 percent of the region’s gross domestic product. Right now, only $45 billion is invested in infrastructure—more than half of it being funded by the public sector. The financing gap is formidable, yet we know that investment in infrastructure can have a significant multiplier effect on growth for years.
At the same time, there are trillions of dollars of capital in the developed world seeking higher returns. We see tremendous opportunities in developing countries for private sector investment in areas like infrastructure, which is crucial for jobs and growth. To bridge this financing gap, we will work with governments and use our resources to de-risk and leverage more private sector investment.