PPPs to be used to improve Africa's infrastructure
16 February 2011
Public-private partnerships (PPPs) are to be used to help close the infrastructural gap facing Africa.
At the moment some $31 billion (£19 billion) extra is need annually in order to fill the infrastructural hole facing the continent.
In order to address this situation a virtual network of practitioners is being developed that will allow for interaction and dialogue.
"The World Bank is committed to providing [groups] with a variety of sources of knowledge and innovation to better tackle Africa's infrastructure deficit," said Sanjay Pradhan, vice-president of the World Bank Institute.
Involved in the discussions were the Southern African Development Community and the Development Bank of Southern Africa.
Once up and running relevant PPPs will be used to accelerate the development of projects across the landmass.
The World Bank recently stated Africa has the potential to be a global leader over the next two decades, as it begins to offer itself as an investment destination.