Several African nations are facing a shortfall in funding for infrastructure projects, according to research by the Global Infrastructure Hub.

The report, Global Infrastructure Outlook: Infrastructure Investment Need in the Compact with Africa Countries, says that $2.4trn is needed in 10 countries by 2040 if they are to keep pace with economic growth.

However, only $1.4trn is forecast to be delivered and $415mn of the $1trn deficit is required by 2030 in order to for the 10 Compact with Africa countries to hit UN Sustainable Development Goals.

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The countries in question are Morocco, Tunisia, Egypt, Ethiopia, Senegal, Guinea, Côte d’Ivoire, Ghana, Benin and Rwanda.

However, the report does highlight a trend for increased investment into emerging markets.

Global Infrastructure Hub CEO Chris Heathcote commented: “It’s now more important than ever that emerging markets continue to develop their infrastructure project pipelines, as well as continuing a track record of attracting public and private capital into well-identified, selected and prioritised projects.

“As the investment environment in these 10 countries improves, there is a real opportunity for infrastructure investors to deliver impactful projects; providing access to essential services – roads and rail, airports and seaports, telecommunications, drinking water, sanitation and energy – for a large proportion of the population.”

Of all the regions studied by the Global Infrastructure Hub, Africa showed the greatest deficit in projected investment, the $1trn figure representing a 42% shortfall.