Transformation through Infrastructure : World Bank Group Infrastructure Strategy Update FY2012-2015
Infrastructure can be an agent of change in addressing the most systemic development challenges of today s world from social stability to rapid urbanization, climate change adaptation and mitigation, natural disasters, and global issues such as foo...
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| Format: | Working Paper |
| Language: | English en_US |
| Published: |
Washington, DC
2017
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| Online Access: | http://documents.worldbank.org/curated/en/430271468176674381/Transformation-through-infrastructure http://hdl.handle.net/10986/26768 |
| Summary: | Infrastructure can be an agent of change
in addressing the most systemic development challenges of
today s world from social stability to rapid urbanization,
climate change adaptation and mitigation, natural disasters,
and global issues such as food and energy security.
Transformation through Infrastructure the updated World Bank
Group Infrastructure Strategy FY12-15 - lays out the
framework for transforming the Bank Group s engagement in
infrastructure. It looks at the nexus between sectors and
call for infrastructure to accelerate growth and even shift
clients towards a more sustainable development trajectory.
It also supports a new vision of who will finance
infrastructure solutions. The new strategy rests on three
pillars: 1) The Group will continue to do what it does
well-sector based projects in support of the access and
growth agenda. This will continue to represent the core of
the group's engagement in infrastructure; 2) the group
will support client demand for addressing the more complex,
second-generation infrastructure issues. The capacity of the
group to respond to these issues will require transforming
how the group engages with clients and partners-by
broadening the range of interlocutors interested in
contributing to the solution, including middle-income
countries, traditional and non-traditional donors,
responsible businesses and local actors; brokering
knowledge; using international for a to advance on certain
global issues; collaborating more effectively with other
multilateral development banks (MDBs) on issues and projects
of regional or global relevance; helping align bilateral
resources in order to access funding at scale; and
delivering transformational projects; and 3) the Group will
leverage its capital by bringing more private sector
financing into infrastructure. The International Finance
Corporation (IFC) will ramp up its infrastructure business,
with particular attention to third party resource
mobilization, Multilateral Investment Guarantee Agency
(MIGA) will scale up its guarantee support and the Bank will
reinforce its upstream work on the enabling environment in
order to attract the private sector. |
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