// SUSTAINABILITY: INFRASTRUCTURE
Innovative instruments for infrastructure progress: Mobilising the private sector
T hroughout my many years of experience working on infra- structure transactions, I have seen firsthand the urgent need to bring together actors from across the pri- vate and public sectors to develop and deliver high-quality, resilient and bankable infrastructure projects. One fundamental fact has never changed: there remains a massive infrastructure financing deficit, which manifests itself most acutely in emerg- ing markets and developing economies. By 2040, we estimate global infrastruc- ture investment needs to reach $18.5 trillion, with emerging market and developing economies accounting for 70% of that shortfall. Luckily, the multilateral system’s col- lective capacity (both financial and technical) to fill this gap using innova- tive approaches to project finance has not changed.
Through the G20’s new project preparation framework, innovative financing tools can unlock private capital and boost resilience, helping translate policy ambition into bankable infrastructure worldwide
and preparation. This framework is intended to support government stake- holders, development partners, private sector actors and other organisations in developing and investing in infra- structure projects, especially where they are most needed. The framework rightly acknowl- edges that although mobilising private capital is increasingly essential to meet growing infrastructure finance demand, it does not happen overnight or in a vacuum. Rather, the private sector only invests in and partners with public actors on projects that meet two critical criteria. First, projects must be undertaken in a conducive regulatory and ena- bling environment. Second, they must be structured with rock-solid techni- cal and legal foundations, particularly in the early stages. Quality and trans- parency in procurement can drive competition, raise value for money and improve the quality of infrastructure investment. The role of data underpins the frame- work, helping address information asymmetry and driving infrastructure as an asset class to unlock institutional investment, improve project pipelines
Jane Jamieson, program manager, Public-Private Infrastructure Advisory Facility and Quality Infrastructure Investment Partnership, World Bank Group
G20 FRAMEWORK ON PROJECT PREPARATION
It has been an honour to work this year with South Africa’s G20 Infrastructure Working Group to develop a voluntary, non-binding framework for effec- tive infrastructure project planning
128 // G20 SOUTH AFRICA: THE JOHANNESBURG SUMMIT 2025
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