The African Project Preparation Gap : Africans Address a Critical Limiting Factor in Infrastructure Investment

Abstract

In Africa it is becoming clear that the reasons for the shortage of infrastructure investment go beyond the need for policy and governance reforms. But the key problem is not a lack of funding, as might be expected. Instead, it is the lack of packaged, bankable projects -- which in turn points to a need for more and better project preparation. But understanding this fact is only a beginning. African policy makers face special obstacles when it comes to adequate project preparation. Their work to resolve these problems is generating important lessons for other low-income regions.