For developing countries, UNCTAD estimates investment needs of $1.6 trillion—$2.5 trillion per year between 2015 and 2030, against current actual investment of $870 billion.15 An earlier study by Bhattacharya et al. ( These regional evaluations are not perfectly comparable, since they are produced by different organizations drawing on their own methodologies and data sources. In Africa, Ethiopia and United Republic of Tanzania spend well above 5 per cent of GDP on infrastructure, while Nigeria and South Africa (the region’s two largest economies) have expenditures of just above 3 per cent and Egypt just over 2 per cent. In Latin America, the regional average is, to a large extent, influenced by low infrastructure expenditure in the region’s larger economies, with Argentina, Brazil and Mexico spending less than 2 per cent of GDP in 2015.