Speaking before the G24 forum of developing countries in Colombia, the Global Infrastructure Hub called on public and private sector actors to increase efforts to understand each other’s priorities in order to structure infrastructure projects that can attract private financing. While there is no one-size approach, the GI Hub emphasised, a pattern of good practice is emerging that helps build well-functioning markets and attractive investment environments. By applying these good practices, developing countries can attract private financing as a decrease in public spending has widened the gap in infrastructure finance.
Drawing upon recent dialogue with the private sector to understand perspectives on global infrastructure investment opportunities, the GI Hub highlighted several fundamental drivers of investment: political leadership, a stable investment environment, a project pipeline and track record among them. The GI Hub also pointed successful approaches at each stage in project development and delivery, ranging from bid costs and allocation of risks, to flexibility in contracts and timetables.
The G24, whose membership includes African, American and Asian governments, convened technical experts to share lessons and discuss issues including financing infrastructure and the challenge of reinvigorating growth.