Advisory Facility helps governments strengthen policies, regulations and institutions to catalyse sustainable and inclusive private participation in infra- structure. Founded 25 years ago, it is the only global facility fully dedicated to the ‘critical upstream’ – strength- ening the policy, regulatory and institutional underpinnings of private sector investment in infrastructure in emerging market and developing econ- omies as well as enabling finance for sub-national entities. Working across the World Bank system and with technical and financial support from numerous gov- ernments, PPIAF has helped catalyse $29 billion in investment across more than 225 distinct projects in 130 coun- tries, and helped train more than 26,000 officials in those countries on best practices in project management. With a more recent – but nonetheless excellent – track record of mobilising private capital for inclusive, resilient infrastructure, the Global Infrastruc- ture Facility takes a slightly different perspective. The GIF – a G20 initiative with a dif- ferent governance architecture from the World Bank – provides a global platform that boosts private capital mobilisation and grows the bankable pipeline of sustainable, high-quality infrastructure investment projects. Since 2014, with the support of government donors, it has built a first- class open access architecture that counts 11 multilateral development banks as technical partners and has brought 26 projects to financial close, mobilising an estimated $8.4 billion in private capital. STRONGER PPPS AND THE PATH FORWARD The strong performance of these instruments helps to prove – and the G20 has similarly acknowledged – two fundamental guiding principles that must inform all efforts to build better infrastructure pipelines in emerging market and developing economies. First, a coalition-based approach is the only way ahead for navigating increasingly uncertain geopolitical and economic environments. And second, while financing is cru- cial, so too is the capacity building support our platform provides. Coun- tries that implement significant
“PPIAF has helped catalyse $29 billion in investment across more than 225 distinct projects in 130 countries, and helped train more than 26,000 officials”
// JANE JAMIESON Jane Jamieson is the program man- ager for the World Bank Group’s Public-Private Infrastructure Advi- sory Facility and the Quality Infrastructure Investment Partner- ship. She joined the World Bank Group in 2010 in the International Finance Corporation’s PPP Advisory Services. Previously, she worked at the United Kingdom Department for Interna- tional Development, where she led the department’s policy and pro- grammes to support private sector participation in infrastructure and served as infrastructure adviser to a range of country programmes in Cen- tral Asia, China and Guyana. www.ppiaf.org and www.worldbank.org/en/programs/ quality-infrastructure-invest- ment-partnership
and strengthen bankability. If we wish our private sector coun- terparts to join us in building the bankable, sustainable infrastructure needed to fuel job creation and jump- start global growth, we must also be willing to work collaboratively with governments to deliver these two pre- requisite conditions.
FLEXIBLE MECHANISMS FOR PROGRESS
This new framework will indeed help guide the formation of more effec- tive and efficient public-private partnerships for resilient, reliable infrastructure. However, it simply rec- ommends a path forward. We at the World Bank share the con- fidence of our G20 partners in our broad knowledge of complex infrastruc- ture transactions, but we know these approaches are not one-size-fits-all. Instead, they must be adapted to national and regional regulatory frameworks, legal requirements, and fiscal realities – and to deliver results they require a diverse array of actors to bring them to life, tailored capacity building and support. The Public-Private Infrastructure
reforms to their PPP frameworks have received, on average, an additional $488 million in annual investments in infrastructure over the last three decades. Ultimately, this is precisely what we at the World Bank are trying to deliver: networked platforms that crowd in pri- vate capital and deliver the expertise to inform its effective management, all in pursuit of more robust pro- ject pipelines in emerging market and developing economies and globally. Let us now redouble efforts to build the resilient infrastructure that moves, powers and connects our world.
129 globalgovernanceproject.org
Made with FlippingBook - PDF hosting