Francophone countries in Central and West Africa will need to rely on private sector investment to close their infrastructure gaps, according to a report from Moody’s.
The ratings agency has said that economic and social development in several countries in the region is “constrained by an infrastructure deficit” and therefore private investment is required to help unlock these nations’ potential.
"Infrastructure development in the Francophone countries of Central and West Africa will continue to face political, budgetary and regional integration challenges," said Knut Slatten, a vice president - senior credit officer at Moody's and the author of the report. "Private sector development and improvements in the business environment will be required to close the infrastructure gap."
Project financing schemes and multilateral development banks will play a key role in attracting private sector investment into the region, the report concluded.