The World Bank has initiated a major call to action for private sector investors around infrastructure projects in developing countries. World Bank Group President Jim Yong Kim on Thursday launched a new initiative, worth some 15 billion dollars, aimed at motivating banks, pension funds and other institutional investors to turn their focus to the pressing, and growing, infrastructure needs in developing countries. Institutional investors have deep pockets - insurance and pension funds have some 80 trillion dollars in assets. -- World Bank President Jim Yong Kim In announcing the new Global Infrastructure Facility (GIF), Kim estimated these needs would require up to a trillion dollars of additional investment each year through the end of this decade. Thats twice as much as these countries are currently spending. The private sector has turned away from infrastructure in developing countries and emerging economies in recent years, the bank reports. Between 2012 and last year alone, such investments declined by nearly 20 percent, to 150 billion dollars. allafrica/stories/201410141484.html
Posted on: Wed, 15 Oct 2014 07:30:00 +0000
Trending Topics
Recently Viewed Topics
© 2015