Egypt is among ten African countries which will fall USD 1 tn short of the infrastructure financing required to meet their development goals by 2040, Invest-Gate reports.

The 10 African countries also include Morocco, Tunisia, Ethiopia, Senegal, Guinea, Côte d’Ivoire, Ghana, Benin, and Rwanda, which will need a total of USD 2.4 tn in investments in water, electricity, roads, railways, airports, seaports, and telecoms to meet such development goals, a study by the Global Infrastructure Hub (GIH) reveals.

In addition to the USD 1 tn investment gap, these countries must have a total of USD 415 bn by 2030 if they are to meet the UN Sustainable Development Goals (SDGs) for universal access to drinking water, sanitation and electricity.

However, current forecasts show that if the countries continue on current spending trajectories, only USD 1.4 tn is expected to be delivered, a 40% shortfall, GIH adds.

“It’s now more important than ever that emerging markets continue to develop their infrastructure project pipelines, as well as continuing a track record of attracting public and private capital into well-identified, selected and prioritised projects,” Global Infrastructure Hub CEO Chris Heathcote is quoted as saying.