Unlocking Africa's Infrastructure Potential Through Local Market Financing
The paper discusses how countries can use local currency revenue bonds to fund infrastructure projects in Africa. Many countries have successfully raised money from their own markets for this purpose. However, some African countries need to improve their basic requirements, transform their economies, and adopt international best practices to make this work. This includes having strong institutions, good infrastructure, a stable economy, and an educated workforce. To make revenue bonds work, African countries need to develop their bond markets and improve how they finance infrastructure.