Infrastructure investment, whether it is maintaining existing networks or building new assets, is critical to economic progress. Most countries are not investing enough, which is hampering their growth prospects and deferring an ever increasing burden to the years ahead. How should projects be prioritized? Is there a role for the private sector alongside government? Where will the money come from? How can international interest be attracted?
Infrastructure only drives economic growth when it is well aligned with the country’s economic, industrial, social and environmental priorities. To maximize the benefits from selected economic infrastructure it is essential that governments address two fundamental questions:
− how should governments prioritize which economic infrastructure projects create the greatest impact in terms of economic growth, social uplift and sustainability?
− once prioritized, what should governments do to help ensure the projects are delivered effectively and efficiently?
The purpose of this Report is to suggest ways in which these questions can be answered.
Even if infrastructure is privately owned and provided, national governments must decide priorities, facilitate land acquisitions and create an appropriate enabling environment. Because high barriers to entry limit competition, governments must also develop contractual or regulatory frameworks. Thus, most decisions concerning big infrastructure priorities inevitably lie with national governments. This Report is therefore designed principally for senior government leaders and officials responsible for planning and delivering infrastructure. Other stakeholders, including the private sector (construction and operating companies, financiers and others), the multilateral development bank and donor community, and civil society should also benefit from the formulation of this “common language” on infrastructure to facilitate a more productive engagement with government.
This Report is intended to be a “road map” to steer governments and key stakeholders to best practices by providing an actionable framework and case studies.
The frameworks and methodologies have deliberately been kept generic so that the principles can be applied in emerging and developed economies. For this reason, the report focuses on economic infrastructure, that is, infrastructure that generates growth and enables society to function. Examples include transport facilities (air, sea and land), utilities (water distribution networks, gas pipelines, electricity grids and electrical power generation), flood defences, waste management and telecommunications networks.
Please find the report here