AfDB’s Quaynor on how COVID-19 has impacted infrastructure investment in Africa

The COVID-19 pandemic has had a significant impact on infrastructure development in Africa, according to Solomon Quaynor, the African Development Bank's Vice President for the Private Sector, Infrastructure, and Industrialisation. In a recent interview with CNBC Africa, Quaynor highlighted three major effects of the global health crisis on infrastructure projects on the continent. The first major impact is the diversion of government resources towards improving healthcare systems and stabilizing the private sector, leaving limited funds for public infrastructure development. The second impact is the retreat of global commercial investors from funding private infrastructure projects in Africa due to disruptions caused by the pandemic. The third impact involves the emergence of new types of infrastructure, particularly in the ICT sector, as connectivity becomes increasingly crucial for businesses and government services during lockdowns. Quaynor emphasized the need for prioritizing infrastructure projects, enhancing public-private partnerships, and implementing risk mitigation instruments to attract private sector investment in infrastructure development. He also underscored the importance of innovative thinking and network optimization in the face of limited resources. The African Development Bank is working closely with governments and development partners to reprioritize infrastructure plans and build the necessary frameworks to support sustainable infrastructure development in Africa.