Prioritizing Infrastructure Investments in Panama : Pilot Application of the World Bank Infrastructure Prioritization Framework
Infrastructure services are significant determinants of economic development, social welfare, trade, and public health. As such, they typically feature strongly in national development plans. While governments may receive many infrastructure projec...
| Main Authors: | , , |
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| Format: | Report |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2016
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2016/04/26284078/prioritizing-infrastructure-investments-panama-pilot-application-world-bank-infrastructure-prioritization-framework http://hdl.handle.net/10986/24404 |
| Summary: | Infrastructure services are significant
determinants of economic development, social welfare, trade,
and public health. As such, they typically feature strongly
in national development plans. While governments may receive
many infrastructure project proposals, however, resources
are often insufficient to finance the full set of proposals
in the short term. Leading up to 2020, an estimated US$836
billion - 1 trillion will be required each year to meet
growth targets worldwide (Ruiz-Nunez and Wei, 2014; World
Bank). Global estimates of infrastructure investments
required to support economic growth and human development
lie in the range of US$65-70 trillion by 2030 (OECD, 2006),
while the estimated pool of available funds is limited to
approximately US$45 trillion (B20, 2014). The past twenty
years have also seen a shift towards decentralized
infrastructure planning. Many subnational governments,
regional entities, and sector agencies have been delegated
responsibility for infrastructure planning promote local
responsiveness, but responsibility for allocating funds
often remains with a centralized finance agency (CFA). While
constituencies may propose numerous projects, governments
often have insufficient financial resources to implement the
full suite of proposals. This report presents the IPF
methodology and results of the pilot application to a select
set of transport and water and sanitation projects in
Panama. The report first gives background information on
infrastructure prioritization in Panama, then follows with a
description of the IPF in technical and implementation
terms. Next, we present the results of the pilot and close
with recommendations for implementing IPF to a wider set of projects. |
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