Who is financing Africa’s infrastructure development?
A total of $100.8bn was committed to Africa’s infrastructure operations in 2018. This is a substantial increase (24%) over the level committed in 2017 (81.6bn) and a 38% increase over the $75.8bn average of the three previous years.
Almost half ($9.5bn) of the $19.2bn increase observed in 2018 results from the inclusion, for the first time, of stand-alone commitments made by the private sector, particularly in the ICT and energy sectors. In previous years, commitments by the private sector were only gathered in the context of PPPs.
The remainder of the increase comes mostly from higher commitments by China ($6.3bn) and African governments ($3.2bn). African governments committed $37.5bn, the largest share (37%) of 2018 financing, followed by China ($25.7bn, 26%), and ICA members ($20.2bn, 20%). Table 2.1 compares the 2018 commitments, by source, to the average of the three preceding years.