G20 Seoul Multi-Year Action Plan on Development (Annex II), 11-12 November 2010

Sectors : Energy, ICT, Infrastructure General, Transport, Water and Sanitation, Investment, Regional cooperation and integration
Organisation : G20
Date made: 
2010
Level: 
Heads Of State
AttachmentSize
G20-Seoul-Multi-Year-Action-Plan-Nov-2010.pdf95.23 KB
You are viewing a filtered list of commitments, click here to view all commitments in this text

Commitments in: Infrastructure - Infrastructure General

“ACTION 1: DEVELOP COMPREHENSIVE INFRASTRUCTURE ACTION PLANS 

We request the regional development banks (RDBs) and the World Bank Group (collectively, multilateral development banks, or MDBs) to work jointly to prepare action plans that increase public, semi-public and private finance and improve implementation of national and regional infrastructure projects, including in energy, transport, communications and water, in developing countries, LICs in particular. The MDBs will pursue actions in the following five areas: 

Information and needs assessment 

• Identify infrastructure gaps, needs and funding requirements, particularly with respect to regional and rural infrastructure, as well as opportunities to promote public-private and semi-public partnerships (June 2011); and 

• Working with developing countries and regional agencies, deliver bankable growth-supporting regional connectivity projects, building on the momentum created by existing initiatives and facilities (e.g., Infrastructure Project Preparation Facility (IPPF), New Partnership for Africa’s Development (NEPAD), African Water Facility (AWF) and Asian Infrastructure Financing Initiative (AIFI)). (November 2011)

Internal practices 

• Identify possible improvements in their lending guidelines, internal policies and practices with a view to overcoming bottlenecks that constrain infrastructure lending, disbursements and the speed of project implementation (June 2011); and 

• Assess the sufficiency of internal resources for project preparation, institutional capacity development and risk mitigation. (June 2011)” 

 
Scope: 
International

“ACTION 1: DEVELOP COMPREHENSIVE INFRASTRUCTURE ACTION PLANS... 

...Improving the domestic infrastructure investment climate 

• Working with LICs on a demand driven basis, assess and diagnose institutional, regulatory, policy, and public sector capacity bottlenecks in LICs that hamper public, semi-public and private investment in infrastructure and assist LICs in developing action plans within the context of national development goals and strategies to: 

(i) remove the bottlenecks to development, whole life costing and planning for investments in new infrastructure, operations and maintenance of existing infrastructure and rehabilitation of aging infrastructure; 

(ii) improve internal resource mobilization and increase fiscal space; and 

(iii) increase energy access, including by supporting more sustainable paths that make maximum use of cost effective renewable energy and resources, support energy conservation, and increase efficiency. (November 2011)” 

 
Scope: 
International

“ACTION 1: DEVELOP COMPREHENSIVE INFRASTRUCTURE ACTION PLANS... 

...Special measures for regional integration 

• Identify and make recommendations with respect to specific institutional, regulatory and policy changes needed for national policies and regional architecture to respond to the physical and economic needs of regional projects (November 2011); 

• Identify a limited number of regional initiatives with a plan for action to reduce bottlenecks and deliver concrete outcomes in these initiatives (November 2011); and 

• Identify MDBs’ institutional bottlenecks that may impede investment in cross-border and regional infrastructure projects. (November 2011)” 

 
Scope: 
International

“ACTION 2: ESTABLISH A G20 HIGH-LEVEL PANEL FOR INFRASTRUCTURE INVESTMENT 

We have created a High-Level Panel for Infrastructure Investment (HLP) to mobilize support for scaling up infrastructure financing. The HLP will last for one year, until the Summit in France. 

Composition 

Approximately 12 members will be appointed in a non-executive capacity for their expertise and authority in developing country public infrastructure investment needs, public finance and economics, constraints in LICs, sovereign wealth fund investment criteria, public private partnerships, project finance, innovative finance, and risk management (February 2011; December 2010 for appointment of Chair); and 

Administrative and technical support and resources will be provided by a dedicated group of experts from the MDBs and the private sector. 

Terms of Reference 

The HLP will: 

• Review MDB policy frameworks and identify and recommend concrete measures to scale up finance and diversify the sources of affordable financing for infrastructure needs, including from public, semi-public and private sector sources; 

• Take into account the limitations of risk bearing capacity of private and semi-public finance, lessons of successes and failures from the past and ongoing programs, best practice, the importance of durability and whole life costing, and innovative ways to mitigate and intermediate risks to attract finance; and 

• Review the MDB Action Plan and provide independent comment in an iterative process to ensure workability, the maximization of the outcomes and a focus on environmental sustainability and transparency...” 

 
Scope: 
International