‘Revitalising infrastructure investment’ was a focus at the G20 FMCBG meeting, and GI Hub-led work was endorsed
Last week, at their final meeting before the G20 Leaders’ Summit in November, the G20 Finance Ministers and Central Bank Governors (FMCBG) reinforced their intention to revitalise infrastructure investment while embedding environmental sustainability and social equality in the economic recovery. These themes were evident in the agreements the FMCBG made on infrastructure. The group endorsed the:
- G20/GI Hub Framework on How to Best Leverage Private Sector Participation to Scale Up Sustainable Infrastructure, which sets out opportunity areas and actions for the G20 to enable the private sector to scale up its investments in sustainable infrastructure
- Expansion of the GI Hub InfraTracker (to be released publicly in 2023), which includes tracking of public infrastructure spending to help governments shape programs and budgets that achieve the best economic, social, and environmental outcomes
- G20-OECD Policy Toolkit on Mobilizing Funding and Financing for Inclusive and Quality Infrastructure Investment in Regions and Cities, prepared by the OECD with the support of the Asian Development Bank (ADB)
- G20 Compendium of Case Studies on Digital Infrastructure Finance: Issues, Practices and Innovation
The FMCBG noted the prior endorsement of the Quality Infrastructure Investment (QII) Indicators, which are targeted at improving the quality of infrastructure, aligning with the UN Sustainable Development Goals. The group also noted the Preliminary Findings Report on Gender Inclusive Approaches in Private Participation in Infrastructure, which promotes gender considerations during the infrastructure lifecycle.
Lastly, the FMCBG welcomed the progress the GI Hub made toward developing a possible new governance model for our organisation, a process that began last year in consultation with the G20 and that will help secure the GI Hub’s long-term future while we remain the G20’s infrastructure entity.