standardised procedures and documents. Indeed, detractors of the GIH level this as a major criticism. Rather than setting out to reinvent the wheel, the Business Plan makes it clear that the GIH intends to promote collaboration between these organisations and, where possible, to attempt to centralise their expertise and knowledge. With the ultimate aim of driving economic growth, the GIH’s focus will be on economic assets such as ports, airports, transport assets, power generation and transmission, water and communications networks. Social infrastructure is a secondary priority. Importantly, the GIH will not advise on specific projects, and it will remain neutral as between any specific source of finance or contracting mechanism. Although the Business Plan sets out the GIH’s strategy, it is patent that the success or failure of the GIH in achieving its mandate will depend on its ability to generate meaningful new information and data, or its ability to analyse existing data in a new way to increase its utility. Outside of the existing infrastructure investment framework, these functions are usually performed by the public and private sectors, and it remains to be seen whether participants in each of these sectors are willing to give up what may be their competitive advantage to an open and transparent body, to be used for the greater good. With geopolitical and commercial considerations in play, the GIH will face significant challenges if, consistent with its Business Plan, it is to bridge the existing gaps between governments, multilateral
development banks and the market more broadly. To that end, though, the GIH has established a Strategic Advisory Council, which will be the key mechanism to provide direct private sector and international organisation input into the GIH’s strategic processes and operations. The Strategic Advisory Council will be chaired by an independent GIH director, with 10 ordinary members to be appointed from peak industry bodies. Representatives from the World Bank, the OECD and the World Economic Forumwill be invited to attend the Strategic Advisory Council in an ex-officio capacity. Conclusion During the coming months, the GIHwill undertake significant groundwork, which will underpin its operational plan. Whilst it’s too early to expect big things from the GIH in 2016, its Business Plan shows that the organisation is in capable hands and is well equipped to work towards developing a more consolidated approach to infrastructure delivery.
Kon Nakousis Partner, Sydney T: +61 2 9210 4416 E: kon.nakousis@clydeco.com
David McElveney Partner, Sydney T: +61 2 9210 4438 E: david.mcelveney @clydeco.com
This article was first published in Partnerships Bulletin.
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