Unprecedented Collaboration among Development Partners to Improve Infrastructure Implementation
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- Release date: 16 April 2016
- Reference: 2016-096-EN
The inaugural Global Infrastructure Forum 2016 convening here today brings together for the first time the leaders of the multilateral development banks (MDBs) - African Development Bank, Asian Development Bank, Asian Infrastructure Investment Bank, European Bank for Reconstruction and Development, European Investment Bank, Inter-American Development Bank Group, Islamic Development Bank, New Development Bank, and the World Bank Group – as well as development partners and representatives of the G20, G24, and G77, to enhance multilateral collaborative mechanisms to improve infrastructure delivery globally. The Forum is organized in close partnership with the United Nations. Following the meeting, a Chairman’s Statement will be issued, setting forth the next steps in this unprecedented collaboration.
Mandated by the Addis Ababa Action Agenda on financing for development to help bridge the infrastructure gap, which is key to achieving the Sustainable Development Goals (SDGs), the Forum aims to improve alignment and coordination among the partners, while respecting the diversity of approaches, policies, and procedures among them, to facilitate the development of sustainable, accessible, and resilient infrastructure for developing countries. The Forum will be held annually, with responsibility for hosting rotating among the MDBs.
Infrastructure plays a critical role in growth, competitiveness, job creation, and poverty alleviation. Yet increasing access to basic infrastructure services remains a critical challenge in developing countries. At least 663 million people lack access to safe drinking water. By 2025, 1.8 billion people will live in areas with absolute water scarcity. Sixty percent of the world’s population lacks internet access, while 1.2 billion people in the world still live without electricity. At least one-third of the world’s rural people are not served by an all-weather road. Addressing the infrastructure gap requires a boost in investment including better leveraging of private investment, but also better governance, capacities, and improving efficiency to get more from existing spending on infrastructure.
MDBs have a strong track record of collaboration in the direct financing of projects and mobilizing private capital, as well as improving capacities and knowledge around infrastructure. Some examples include the Global Infrastructure Facility, the International Infrastructure Support System, the PPP Knowledge Lab, the PPP Days conference, Infrascope, and the PPP Certification program.
The Chairman’s Statement will highlight the idea that to achieve the objectives of the Forum, the MDBs and development partners resolve to work together on strengthening project preparation, promoting financing, building on shared principles and promoting compatible and efficient approaches, and improving data and information. A session to review progress will take place during the Global Infrastructure Forum 2017.
To view the full Chairman’s Statement, which will be released at the end of the meeting, please visit: https://pppknowledgelab.org/global-infrastructure-forum-2016.
The EIB is active in 160 countries around the world. As a key player in the world of development finance, the European Investment Bank (EIB) is participating in the 2016 Spring Meetings of the World Bank Group and the International Monetary Fund (IMF) taking place in Washington D.C. (USA) through a delegation led by President Werner Hoyer. These events are among the most important in the calendars of all organisations involved in international development and the EIB is proud to contribute its expertise.
As the EU bank, the EIB provides long-term finance for sound, sustainable investment projects in support of EU policy goals in Europe and beyond including the Sustainable Development Goals and putting the Paris Agreement on Climate Change We are the largest multilateral lender and borrower in the world and are owned by the EU’s 28 member states. The EIB makes long-term finance available for sound investment in order to contribute towards EU policy goals including the support of the Sustainable Development Goals and putting the Paris Agreement on Climate Change into practice.
The EIB invests in four priority areas in support of growth and job creation: innovation and skills; access to finance; climate action and environment; and strategic infrastructure.
As the world’s largest climate financier, the EIB is playing a particularly important role in helping to tackle climate change. Last year around 27% of all lending went towards climate action. The Bank is committed to raising the proportion of climate investment to 35% by 2020, and placing a greater emphasis on helping regions in the frontline of climate change to adapt.
For more information
Tackling Global Challenges Together: for updates, news and videos www.eib.org/globalcooperation