Inaugural global infrastructure Forum held

The inaugural global infrastructure Forum 2016 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 – with development partners and representatives of the G20, G24 and G77, with the aim of enhancing multilateral collaborative mechanisms to improve infrastructure globally. The Forum is organised in close partnership with the UN.

The Forum, which is 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), aims primarily to improve alignment and coordination among the partners, while respecting the diversity of approaches, policies and procedures among them, in order to facilitate the development of sustainable, accessible and resilient infrastructure for developing countries. The Forum will be held annually, with responsibility for hosting rotating through the MDBs.

MDBs have a strong track record of collaboration in the direct financing of projects and mobilising 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.

Adapted from press release by Rebecca Bowden

Read the article online at: https://www.worldcement.com/africa-middle-east/18042016/inaugural-global-infrastructure-forum-held-920/