capital markets to mobilise local inves- tors. Midstream, they need support in identifying and preparing project pipelines, including transaction advi- sory services for feasibility studies, the preparation of bidding and contractual documents, and negotiations of com- mercial and financing documents. Midstream project and programme development is the riskiest part, requiring a concerted effort to scale up resources dedicated to ‘the miss- ing middle’, enabling transformative development by translating reforms in the upstream enabling environ- ment into bankable project pipelines for downstream investment. Downstream, innovative public- private financing solutions such as guarantees, blended finance or patient development capital can help meet the risk-return requirements of private investors. Multilateral development banks have provided longstanding support to EMDE governments to cre- ate the enabling investment climate
and regulatory frameworks to facilitate private investment and have also anchored project preparation support for pri- vate capital mobilisation. However, more work is required to translate these efforts into private investment from ‘bil- lions to trillions’. At the same time, the project preparation ecosystem is rapidly evolving, including philanthropy, investor alliances, impact funds or dedicated partnerships providing additional models of support. A comprehensive and collaborative effort by all public, private, philanthropic, academic and civil society actors and initiatives at the global and country levels is needed to achieve exponential growth in pipeline creation. Since 2014, the Global Infrastructure Facility has sup- ported governments in EMDEs in preparing sustainable, climate-smart infrastructure projects for private invest- ment. As the only global multilateral public-private collaboration platform dedicated to preparing sustainable, low-carbon, resilient and inclusive infrastructure projects and programmes, it supports EMDE governments in pre- paring for private investment at national and sub-national levels. The GIF provides its transaction advisory services through 11 MDBs and works in structured collaboration with the private sector through its advisory council mem- bers, which manage over $18 trillion in assets. The GIF has supported 178 activities in 70 countries across a diversified portfolio of infrastructure sectors and EMDE geographies.
Existing infra- structure accounts for about 80% of greenhouse gas emissions and 90% of adaptation costs 80 % 90 % The International Energy Agency estimates that low- and middle-income countries need to mobilise $1.9 trillion annually by 2030 to achieve their clean energy goals. This is a seven- fold increase from the current annual $260 billion. $1.9 tr
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