Funding infrastructure projects in developing countries
A key factor influencing the economic growth of developing countries is the amount and quality of infrastructure provided for transport, water, power, sewage, waste disposal, education and health. Such provision is costly and normally requires expertise and resources that are often not available locally. This necessitates a long-term strategic view, whereby projects are prioritized and brought forward as and when they can be afforded. Unfortunately, some less well off developing countries often suffer disruption caused by internal conflicts, corruption and a lack of political continuity that makes long-term planning extremely difficult. As a consequence, these countries fall further behind their counterparts who have more stable socio-economic and political circumstances. Hence, resources available for the improvement and development of infrastructure are often beyond the financial capacity of their respective governments.