New World Bank data finds that private infrastructure investment in low- and middle-income countries totaled $86 billion in 2023. Investments declined 5% compared with 2022, however, were on par with the previous five-year average.

Despite the decline in total investment, more countries received private investments in infrastructure across a wider sample of projects. In 2023, 68 countries received investments across 322 projects, compared to 54 countries and 260 projects in 2022. Guinea Bissau, Libya, Papua New Guinea, São Tomé and Príncipe, and Suriname achieved their first private participation in infrastructure (PPI) transactions in more than a decade.

The Private Participation in Infrastructure report dates back to 1984. It tracks investments in 10,000 infrastructure projects in low- and middle-income countries on a continuous basis. As infrastructure financing becomes a bigger priority for countries around the globe, this dataset is an important resource for tracking progress and identifying trends.

“Getting the right infrastructure in place is crucial for people to live to their full potential. With government budgets under pressure and an infrastructure financing gap totaling multiple trillions of dollars, more private sector participation is needed to deliver infrastructure projects,” said Guangzhe Chen, Infrastructure Vice President at the World Bank. “At the World Bank, we are pulling out all the stops to enable this progress, through our work on public-private partnerships, our overhauled guarantees program, and our grants to the world’s poorest countries. The PPI report is an important tool for us in these efforts. It is the only database of its kind, offering a direct view into the regions and sectors receiving infrastructure investments, how these projects are structured, and what role multilateral development banks can play in these contexts.”

Private infrastructure investments declined in most regions in 2023, with notable exceptions being the Middle East and North Africa (MENA) and East Asia and Pacific (EAP). MENA continued its growth trajectory, with PPI investment levels almost doubling from $1.4 billion in 2022 to $2.9 billion in 2023. The EAP region returned to pre-pandemic levels of investment after a three-year lag as the region recovered from the effects of COVID-19.

When it comes to sectoral trends, energy saw a threefold increase in investment levels in 2023, with most of this increase directed toward EAP. In line with the continued global push to reduce greenhouse gas emissions, 97% of electricity generation projects were renewable in 2023, compared to 93% in the previous five-year period. 

When it comes to the world’s poorest countries, 26 countries that are members of the International Development Association (IDA) received investment commitments amounting to $4.3 billion across 53 projects in 2023, an 18% increase and a record in terms of number of projects.  

The PPI Database has data on over 10,000 infrastructure projects in 137 low- and middle-income countries from 1984 to the present. The database is the leading source of PPI trends in the developing world, covering projects in the energy, transport, water and sewage, information and communications technology (ICT), and municipal solid waste sectors.

For more information, please visit: PPI.WorldBank.org

Distributed by APO Group on behalf of The World Bank Group.

The second round of the India-US Dialogue on Africa is being held in Washington DC on 14-15 May 2024. The Indian side is being jointly led by Shri Puneet R. Kundal, AS (E&SA) and Shri Sevala N. Mude, AS (C&WA). Ms. Mary Catherine Phee, Assistant Secretary of State for African Affairs, is leading the US side.

The India-US dialogue on Africa aims to share ideas and perspectives and explore ways to develop institutional, technical and bilateral synergies to work together in Africa. It also targets identification of developmental projects and programs of cooperation in Africa, leveraging the strengths of India and the US, in accordance with African priorities.

This is the first such dialogue on Africa between India and the US after the inclusion of the African Union as a permanent member of the G20 during India’s presidency of the G20.

Distributed by APO Group on behalf of Ministry of External Affairs – Government of India.

The President of the Republic, Nana Addo Dankwa Akufo-Addo, has conferred Ghanaian citizenship upon the legendary musician, humanitarian, and global icon, Stevland Hardaway Morris, popularly known as, Stevie Wonder.

This conferment, according to President Akufo-Addo, not only recognize his immense talent and achievements, but also acknowledge his deep connection to the African continent, and his tireless efforts to promote unity, solidarity and cultural exchanges among all peoples of African descent.

He said his decision to become a citizen of Ghana is a testament to his profound respect and admiration for our nation’s history, culture, and values.

Describing his new citizenship as a vivid manifestation of the goals of the Year of Return, which was commemorated in 2019 as a bridge between the African peoples on both sides of the Atlantic, he called on all to “draw inspiration from his legacy, and strive to build a future where creativity flourishes, diversity is celebrated, and the bonds of brotherhood and sisterhood transcend all differences.”

“In conferring Ghanaian citizenship upon Stevie Wonder, we not only extend our warmest embrace to a beloved son of Africa, but also reaffirm our belief in the enduring spirit of Pan-Africanism and the global African family, and the boundless potential of our continent and all its descendants”, he added.

Stevie Wonder joins several generations of diasporans like missionaries, policemen, lawyers, doctors, health workers, writers, artists, musicians, who have committed their lives to make Ghana their home.

Notable amongst them, the President said, are the likes of “George Padmore, close associate of our first President, Kwame Nkrumah; Bob Marley’s widow, Rita, who has found a home with us in Aburi; Maya Angelou, a contemporary of mine at the University of Ghana, Legon, the celebrated writer, who spent a considerable part of her youth with us; and W.E.B du Bois, the great scholar, who also found a home in Ghana, and is buried here.”

Defining his life as synonymous with creativity and the transformative power of music, he said Stevie Wonder’s illustrious career, spanning over six decades, has “not only captivated the hearts and minds of millions around the world with his soulful melodies and unparalleled talent, but has also used his platform to champion social justice, equality and human rights.”

“From his timeless classics, that have become anthems of hope and inspiration, to his tireless advocacy for the rights of persons with disabilities, Stevie Wonder has touched the lives of countless individuals, and left an indelible mark on our collective consciousness,” he added.

The President cited a personal favourite and oft-cited statement of the famous Jamaican reggae star, Peter Tosh, who once said, quite rightly, “don’t care where you come from, as long as you’re a black man, you’re an African.

Distributed by APO Group on behalf of The Presidency, Republic of Ghana.

Government of India is extending humanitarian assistance to the Government of Kenya in the wake of devastation caused by the floods that have hit the country. 38 out of 47 counties, have been affected. An estimated 267 people have died, 188 injured and over 2,80,000 displaced.

A relief consignment is being airlifted today on an Indian Air Force plane that comprises of 22 tons humanitarian assistance and disaster relief items (HADR) including tents, sleeping bags/mats, blankets, power generation sets, ready to eat meals, basic sanitary utilities and hygiene kits to provide immediate succor to the people of Kenya. The consignment also contains about 18 tons of medical aid, comprising essential life-saving drugs and surgical equipment required for critical care and wound management. It also includes items required for baby food, water purification, menstrual hygiene, repelling mosquitoes, along with malaria and dengue diagnostic kits, anti-venom treatment and several types of testing kits that can be readily deployed on the ground.

Indian Naval ship INS Sumedha had earlier reached Mombasa on 10th May to extend immediate relief comprising one HADR pallet and two medical pallets.

The assistance to Kenya is a reiteration of our strong and friendly relations with the country, in the spirit of South-South cooperation and our commitment to keep Africa on top of our priorities, as spelt out by PM Narendra Modi.

India also extends deep sympathies to the government and people of the Republic of Kenya for the damage and destruction caused by the floods.

Distributed by APO Group on behalf of Ministry of External Affairs – Government of India.