Infrastructure, as a driver of economic growth and prosperity, occupied a central place in the issues discussed in Riyad on Feb 22-23 by the G20 Finance ministers with in particular:
- an increased focus on Tech as a key driver for better infrastructure- by improving investment decisions, enhancing Value for Money, and improving efficiency in the infra lifecycle (Building and O&M)
- reaffirmed support to the Quality Infrastructure Investment (QII) agenda, pushed by the Japanese presidency last year
- and continuous push towards the Roadmap to Infrastructure as an asset class, with a specific focus on the regulatory framework for private sector participation in infrastructure Investment.
Collaboration with institutional investors and asset managers with the aim of scaling up private investment in infrastructure ranks among the first follow up actions listed – with a report from the G20/OECD on collaboration expected by July 2020 ( a report to which LTIIA, as well as other individual institutional investors , has been associated and will contribute through the dialogue launched by OECD in support of the G20 Infrastructure Working Group and of the G20/OECD Task force on Long term investment). Stronger mobilization of private sector resources is also explicitly called for, regarding development finance, through enhanced role of political risk insurance, as well as through developing domestic capital markets.
Among the other issues addressed:
- A G20 reference note on fiscal risks and infrastructure PPPs, to be delivered by the IMF – July 2020.
- IWG (G20 Infrastructure working Group) to develop the INfraTech agenda to deliver agile and resilient assets, supported by GIH, WBG, OECD & other IOs
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