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

Sectors : Economic governance and public finance management, Employment and Training, Investment, Energy, Infrastructure General, Regional cooperation and integration
Organisation : G20
Date made: 
2010
Level: 
Heads Of State
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Commitments in: Private Sector development and financial services for the poor - Investment

“ACTION: SUPPORT RESPONSIBLE VALUE-ADDING PRIVATE INVESTMENT AND JOB CREATION 

We will identify, enhance as needed, and promote the best existing standards (developmental, social and environmental) for responsible investment in value chains and voluntary investor compliance with these standards. (June 2011)...

...The G20, MDBs, UNCTAD, UNDP, ILO and OECD will, based on the outcomes of this and other work, assist developing countries, in particular LICs, to develop action plans with the view to strengthen financial markets to boost small and medium enterprises (SMEs), improve the business investment climate, maximize the value-added of private investment and support the regulatory framework for foreign and domestic investment. Existing international investment arrangements between G20 countries and LICs will be strengthened to promote investment in LICs. (June 2012)” 

 
Scope: 
International

Commitments in: Infrastructure - Infrastructure General

“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