Viability gap funding for promoting private infrastructure investment in Africa: views from stakeholders

ABSTRACT Viability gap funding (“VGF”) has emerged as one of the alternatives to leverage public funds in order to mobilise private infrastructure investment in developing countries. This paper is motivated by an interest to better understand how different stakeholders see VGF and whether the use of different VGF instruments can be an effective tool in promoting private infrastructure investment. The research found that there is a need for more VGF in low- and middle-income countries, among other important findings. Although the presented study is mainly focused on infrastructure development in Africa, its results can be of interest in other developing markets.