The African Development Bank Group (AfDB) has approved its first strategic framework for the development of public-private partnerships (P3s) to address the infrastructure gap in African countries.
Africa’s infrastructure investment gap is estimated at more than $100 billion per year. Bank experts say P3s offer an approach to increase private sector investments and higher levels of efficiency in the development and operation of infrastructure assets in Africa.
“This eagerly awaited strategic framework will go a long way to enabling the bank to provide much required assistance for the development and implementation of public-private partnerships in our regional member countries, and we look forward to its success,” said Akinwumi Adesina, bank president.
The bank’s Public-Private Partnership Strategic Framework is rooted in three pillars that will provide an end-to-end solution to member countries, from upstream to downstream. Pillar one covers upstream su
