The FINANCIAL — Mobilizing private sector investment in high-quality, sustainable infrastructure is crucial to ensuring access to markets and basic services that will boost trade and productivity, provide jobs, and improve people’s lives.
Partnerships are critical in meeting these objectives, said speakers at the World Bank-Singapore Infrastructure Finance Summit, organized by the World Bank Group, the Singapore Ministry of Finance, the Monetary Authority of Singapore and the Financial Times, in association with the World Bank-ASEAN Infrastructure Finance Network. In its sixth year, the Summit has become the leading international forum for public-private debate on infrastructure investment and viable financing structures, according to the World Bank.
Other speakers included Philippines Finance Secretary Cesar Purisima, World Bank Group Managing Director and Chief Financial Officer Bertrand Badré and India Minister of Railways Suresh Prabhu.
More infrastructure investment is urgently needed. Around the world, more than 1.1 billion people live without reliable electricity and 660 million people lack access to safe drinking water. At least one-third of rural communities have limited road access. Poor infrastructure hurts the competitiveness of communities, countries, businesses, and impedes economic growth.
“Infrastructure investment is part of the solution to the slowing economy, and it is attractive to investors compared to corporate risk. But investors need the right tools and the right projects. With our growing network of partners, the World Bank Group through the Global Infrastructure Facility (GIF) can help prepare the project pipelines and help build the ecosystem for long-term infrastructure investment. Now is the time to start,” said Bertrand Badré, Managing Director and Chief Financial Officer, World Bank Group. For the full article click here
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