At the ongoing Finance in Common Summit in Cape Town, African Development Bank (AfDB) Vice President for Private Sector, Infrastructure & Industrialization, Solomon Quaynor, called for a shift toward accelerating development of bankable green infrastructure projects, and with scale, emphasizing that Africa cannot afford to sustain decade-long infrastructure development timelines.

Addressing a session entitled "Innovative Technical Assistance: Bridging Africa's Infrastructure Gap," Quaynor stated that Africa must bridge its infrastructure gap by prioritizing green infrastructure project preparation and development, ensuring that both public and private sector instruments are leveraged effectively. He emphasized that future progress lay in:

• creating a contestable market for successful bankable infrastructure developments
• Accelerating successful green infrastructure project developments to within 3 years instead of 10 years
• Strengthening infrastructure development and asset managers like Africa50, as well as scalable green infrastructure project development platforms such as the Alliance for Green Infrastructure in Africa (AGIA) to mobilize large-scale investments.

With the African continent requiring significant investments to bridge infrastructure and industrialization gaps, the event explored how development finance institutions (DFIs), multilateral partners, national public development banks, philanthropies and the private sector can leverage technical assistance (TA) to drive sustainable economic transformation. Speakers highlighted the need for TA to be not only catalytic but also structured in a way that maximizes private sector participation and enhances the effectiveness of development financing.

Quaynor emphasized that technical assistance should also be designed to de-risk investments and create the necessary enabling environment for private capital mobilization.

He stated: "Innovative technical assistance mechanisms allow us to bridge financing gaps, strengthen institutional capacity, and accelerate the implementation of transformative projects. We need to rethink how we deploy TA to ensure that it leads to sustainable and scalable investment outcomes."

The AfDB integrates both public and private sector instruments, ensuring a solutions-oriented approach to infrastructure project development. To bridge Africa's infrastructure gap, project preparation and development must go hand in hand, as the lack of bankable projects remains a major challenge. Moreover, governments must take the lead in enabling the environment for private sector participation to avoid exclusivity demands from private investors. Speed and quality are essential.

"Africa can no longer sustain infrastructure projects that take 7 to 10 years to develop--we must accelerate development to deliver within 3 years while prioritizing green infrastructure," said Quaynor.

The AGIA (Alliance for Green Infrastructure in Africa) is a transformative initiative originated by the African Development Bank, in partnership with Africa50 and the African Union Commission, that equips local developers with the necessary skills, funding, and co-development support from experienced infrastructure developers to accelerate sustainable infrastructure development. The bank is focusing on creating a contestable market for successful project development, ensuring greater competition, scale, and speed, and growing the pipeline of successful green infrastructure developments. By combining project preparation and development, initiatives like AGIA are driving scalable, bankable, and sustainable solutions for the continent's future.

A key takeaway from the discussion was the importance of aligning technical assistance with the needs of both governments and private investors. By focusing on capacity-building, regulatory reforms, and project preparation, TA can enhance the bankability of projects and unlock new funding opportunities. Participants also explored how digital solutions and knowledge-sharing platforms can improve the efficiency and impact of technical assistance programs.

As the AfDB continues to champion Africa's economic growth, Quaynor reiterated the institution's commitment to fostering partnerships that drive innovation in technical assistance. The bank is actively working with development partners to ensure that TA is deployed strategically, reinforcing the bank's broader objectives under its High 5 priorities--particularly industrialization and integrating infrastructure development.

The Finance in Common Summit serves as a vital platform for strengthening collaboration among public development banks and financial institutions. This year's discussions in Cape Town have underscored the need for new approaches to technical assistance that not only support individual projects but also contribute to systemic change across the continent's financial and investment landscape.