Report highlights Mena’s $994bn infrastructure funding gap

The Mena region is likely to face the biggest shortfall in funding for infrastructure projects among Islamic states over the next 20 years, according to recently published research.

The ICD-Refinitiv OIC Infrastructure Outlook 2023 report predicts that the funding gap could be as much as U$993.9 billion.

The report breaks down where the gaps are widest, with a $685 billion gap in roads, $110.8 billion in water, $47.3 billion in rail, $33.6 billion in ports and $24.7 billion in airports.

Only one sector, electricity infrastructure, has built up a surplus which currently stands at $27.4 billion.

The size of the funding gap is considerably bigger than other members of the Organisation of Islamic Cooperation – sub-Saharan Africa has a gap of $665 billion.

“As Islamic markets grow in global importance … and their potential expands as markets for consumption and investment, it is becoming increasingly vital that the gaps are filled,” said Mustafa Adil, head of Islamic finance, Refinitiv, in the report.

©2023 funds global mena

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