Basel III’s stringent capital requirements are increasingly under fire for restricting the ability of African banks to fund long-term infrastructure projects. He added his voice to the argument that the Basel III rules make infrastructure lending prohibitively expensive. “When the financiers got together for Basel III [they developed] a new metric for risk calculation for infrastructure. The amounts of money banks need to put up for long-term capital infrastructure become horribly prohibitive,” he told delegates of the conference, hosted by the International Federation of Consulting Engineers (Fidic). China, though, continues to produce “exciting” infrastructure projects such as magnet trains and dominates global production of solar panels and wind turbine components.