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PPPs to be the corner stone of a WB’s initiative to raise USD 1 billion in infrastructure financing for MENA region

Dubai: The Middle East and North Africa (Mena) region needs to invest between $75 billion (Dh275 billion) and $100 billion a year to sustain growth rates achieved in recent years and to boost econ-omic competitiveness, the World Bank has said. The World Bank Group, in partnership with the Islamic Development Bank (IDB), is setting up a regional initiative that could raise up to $1 billion to close the Mena infrastructure gap, which will undermine the region’s growth if not addressed. The regional initiative would include technical assistance to help governments tackle legal, policy and institutional constraints to public-private partnerships and to develop cross-border infrastructure projects vital to regional integration and competitiveness.

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About hasaankhawar

International Development Professional | Policy Op-ed Writer | Hon. Fellow at Consortium for Development Policy Research | Avid Traveller

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