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| | | Title | REPORT OF THE PROCEEDINGS OF THE 2017 MEFMI REGION CENTRAL BANKS GOVERNORS’ FORUM: Responsible Development Financing | | Author | MEFMI | | Subject | Development Financing | | Date of Publication | 201706 | | Publisher | Macroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI) | | Number of Pages | 42 pages | | Language | English | | Geographical Coverage | Africa | | Keywords | Central Banks, Development Finance, Emerging Africa Infrastructure Fund | | Abstract | Africa’s infrastructure development requires significant financing as well as strengthening of the international funding and delivery architecture. According to a 2009 study by the World Bank, the continent needs USD93 billion per year to fill the infrastructure deficit. For instance, Africa’s power sector alone is experiencing a finance shortfall of USD40-45 billion every year since achieving universal access to electricity in Africa requires investment of about USD55 billion per year until 2030. Further, the cost of implementing PIDA requires approximately USD67.9 billion annually until 2020 for the 51 projects included in the Priority Action Plan. The implementation of the remaining projects will require an additional USD300 billion through 2040. According to the NEPAD Agency, the funding gap stood at USD31 billion per year which includes 75% of capital investment and 25% of maintenance expenditure. | | Copyright Holder | Macroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI) | | Copyright URL | http://www.mefmi.org | | Filesize | 984053 MB | | File Format | PDF | | [ View / download original document ] |
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