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Today, the GI Hub has launched a new resource that shows how G20 governments are spending the USD3.2 trillion in infrastructure as a stimulus.
Transformative Outcomes Through Infrastructure
India's infrastructure needed substantial investment to fulfill the demands of the growing economy. The Indian government introduced various initiatives to demonstrate domestic confidence to foreign investors, including Infrastructure Investment Trusts (InvITs) as an avenue for infrastructure developers to divest operational projects and reduce their leverage.
India's Registered Infrastructure Investment Trusts
After 99% of Queensland was declared a natural disaster zone due to the cumulative effects of Cyclone Yasi and widespread flooding, the Australian Federal Government imposed a one-off levy to finance AUD1.8 billion to rebuild infrastructure.
The rapid growth in Indonesia’s urban areas required a rapid scale up in infrastructure investment. The Government of Indonesia set up Indonesia Infrastructure Guarantee Fund (IIGF) as a state-owned enterprise (SOE) to leverage private investments in infrastructure projects by providing government guarantees or credit enhancements to PPP projects.
The Contracts for Difference (CfD) were introduced as part of the UK's Electricity Market Reform to incentivise investment in secure, low-carbon electricity, improve the security of the UK’s electricity supply, and improve affordability for consumers.
New legislation helped enable construction of the Tsukuba Express Line for fast travel between central Tokyo and the nation’s largest research hub.
As the government of Saudi Arabia aimed to rapidly diversify its economy away from oil, there was an increased focus on sustainable strategies and growth of Islamic capital markets. With its Green Sukuk Framework, Saudi Electricity Company raised USD1.3 billion for low-carbon and climate-resilient infrastructure.
To help transition to a low-carbon green economy, China announced plans to grow a corporate green bond market, establishing pilot zones in five provinces and autonomous regions to inform national green finance policies.
The Chicago Infrastructure Trust (CIT) was created in 2012 to provide focus and leadership to build a pipeline of executable public-private partnership projects to meet Chicago’s infrastructure needs, drive economic development, and create jobs.
Singapore's SolarNova program is a whole-of-government effort to accelerate the deployment of solar photovoltaic (PV) systems. The government took the lead in rolling out the rooftop PV systems across public housing and government buildings in collaboration with solar developers.
The Canadian Government established a national infrastructure bank to help attract private sector investors and institutional investmet in infrastructure projects in Canada that will generate revenue and are in the public interest.
The Pensions Infrastructure Platform was developed to facilitate long-term investment in UK infrastructure by pension schemes. It was established by UK pension schemes to operate and invest for pension schemes. It allows pension schemes of all sizes to invest in national infrastructure projects by pooling resources into a single investment fund.
Australia’s national government introduced policy to incentivise asset recycling / capital recycling by state-level governments, offering up to 15% of the sale or lease proceeds of asset privatisations for re-investment in infrastructure projects. Since 2014, the State of New South Wales has raised AUD32.7 billion through asset recycling.
European Bank for Reconstruction and Development (EBRD) launched the Green Economy Transition (GET) approach in 2015 to accelerate investments that drive environmental benefits. Following the severe impact of the COVID-19 health emergency, a new GET 2.0 was proposed to contribute to a green economic recovery post-COVID-19.
A new GI Hub initiative, launching in November 2021, tracks the amount of infrastructure as a stimulus announced by G20 governments and presents data insights that will help governments, investors, multilateral development banks, and project directors achieve transformative outcomes from infrastructure in the post-COVID-19 recovery.
Sidewalk Infrastructure Partners (SIP) and a set of founding partners, have recently launched the Innovative Infrastructure Initiative (I³); a new consortium championing and accelerating transformative infrastructure projects in America that use technology and innovation to meet pressing infrastructure needs.
The G20 Finance Ministers and Central Bank Governors (FMCBGs) met yesterday and issued a Communiqué outlining their collective commitments and priorities. The Communiqué cites several GI Hub tools that will help G20 countries and others harness the transformative potential of infrastructure and attract private investment in infrastructure.
These five social infrastructure trends are not new concepts, but the rate at which they are appearing all over the world is staggering.
While infrastructure is a driver of economic prosperity and can provide a solid basis for strong, sustainable, balanced and inclusive growth, it is not a given that infrastructure investment will fully realise these aims without visionary planning and commitment. For infrastructure investment to deliver a more sustainable, resilient and inclusive global recovery, we need to create the right enabling environment now.
What does resilience to climate change look like and how can we support countries in coping with climate risks?
