This synthesis report summarises findings from a research programme on
private finance for infrastructure investment. The aim of the programme
was to understand the main constraints on the flow of private capital to
infrastructure projects in DFID’s focus countries in Sub-Saharan Africa
(SSA), excluding South Africa. Such constraints could result from a lack
of availability of either:
- bankable project opportunities, in which projects meet the financing
requirements of lenders and investors at different points of the
project life cycle; or
- private capital from domestic and international credit and capital
markets to finance such projects, linked to issues in these markets
rather than the quality of the available projects.
This research focused on two components. The first is articulating and,
to the extent possible, quantifying the nature of the problem. The
second involves research into potential solutions to developing bankable
projects and to improving access to finance (particularly as regards
deployment of donor funding interventions). The emphasis is on the
provision of a robust evidence base, taking into account limitations in
the information available in the public domain, to shed light on both
the nature of the problem and the potential solutions.
The ultimate objective of the research is to improve the evidence base
for donors, Multilateral Development Banks (MDBs) and partner
governments, which will help with planning and programming in the areas
of developing and financing infrastructure projects.
Cambridge Economic Policy Associates (CEPA). Mobilising Finance for Infrastructure - Final Report. Cambridge Economic Policy Associates (CEPA), London, UK (2015) vii + 145 pp.