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In low- and middle-income countries (LMICs), around three-quarters of private investment in infrastructure is conducted in foreign currencies, most commonly USD, and only a quarter in local currencies. Brazil dominates local currency transactions in LMICs and has driven a trend increase in the share of local currency transactions in LMIC investment since 2016.
Infrastructure Monitor insights
Infrastructure Monitor 2023 report
Last week, the Public-Private Infrastructure Advisory Facility (PPIAF) hosted a webinar on “Building Strong PPP Institution in Developing Countries”. This webinar followed a global review undertaken by PPIAF to better understand the drivers of success in public-private partnership (PPP) programs. This webinar focuses on the role of contract management in PPPs.
The PPIAF team recently participated in the annual #Infra4Dev Conference in Rabat, Morocco. Henri Blas, Ludovic Delplanque, and Luciana Guimaraes Drummond e Silva each engaged in panel sessions during this two-day event, sharing knowledge insights and resources on various topics, including the global infrastructure financing landscape, PPP project preparation, and integrating gender into PPPs.
60% of infrastructure assets reporting to GRESB in 2023 currently have a greenhouse gas (GHG) emissions reduction target aligned to net zero. However, these net zero targets may not be ambitious enough. Only a third of assets have a target that is science-based or aligned to a net zero-targeting framework. Further, targets tend to capture only Scope 1 and 2 emissions (omitting Scope 3 emissions) and be location, rather than market-based. However, regional variances exist, with Europe leading the way in Scope 3 and market-based net zero targeting.
Non-private institutions, such as multilateral development banks, play a critical role in catalyzing private infrastructure investment in low- and middle-income countries (LMIC). One avenue of support is through the direct co-financing of projects, with over half (55%) of total LMIC investment involving non-private co-financing in 2022. However, the share of LMIC investment financed by the private sector alone has been increasing over time. This has been driven by the renewables sector, reflecting increasing investor confidence in a maturing market as well as relatively smaller project sizes. In general, private sector investors are less likely to require co-financing support from non-private entities in larger LMIC markets, such as Brazil, Russia, India and South Africa.
The Public-Private Infrastructure Advisory Facility (PPIAF) in collaboration with the Multilateral Cooperation Center for Development Finance (MCDF), Egyptian Ministry of Finance, African Development Bank (AfDB), Asian Development Bank (ADB), World Bank and the World Association of PPP Units and Professionals (WAPPP) will be hosting a series of webinars to provide valuable insights into PPPs.
The African Infrastructure Fellowship Program (AIFP) recently announced its 2024 cohort of fellows, which includes 18 participants from across the continent and brings together a diverse and talented group of individuals with backgrounds in engineering, finance, law, and more. This year saw over 200 applications for the program.
The G20 Brazilian Presidency and the Australian Co-Chair held the third Infrastructure Working Group (IWG) meeting in Foz do Iguaçu, Brazil, in June, which consisted of five sessions: Linking Infrastructure and Poverty Reduction, Delivering Cross-Border Infrastructure, Financing Climate-Resilient Infrastructure, Infrastructure Global Trends, and Mitigating Exchange Rate Risks. Henri Blas, Program Lead for the Global Infrastructure Hub, participated in session four of the meeting focused on Infrastructure Global Trends.
Last month, Jane Jamieson, the Program Manager for the Quality Infrastructure Investment (QII) Partnership and the Public Private Infrastructure Advisory Facility (PPIAF), along with Khafi Weekes, Climate Infrastructure Specialist at PPIAF, and Helen Gall, Monitoring and Evaluation ETC at QII, participated in the Understanding Risk Global Forum in Himeji, Japan. Initiated in 2010, this year’s Forum was the largest yet, attracting over 1,700 Disaster Risk Management (DRM) and Climate Change Adaptation (CCA) experts and practitioners from across the globe. PPIAF and QII had a strong showing at the Forum, participating in five events, including three plenaries and two workshops.
The Public-Private Infrastructure Advisory Facility (PPIAF) held its Partnership Council Meeting in Vienna, Austria this June. This meeting brought together PPIAF’s esteemed donors and welcomed the Kingdom of Saudi Arabia as the newest donor to PPIAF with their contribution that has supported the integration of the Global Infrastructure Hub (GI Hub) into the PPIAF family. Over the two days, PPIAF engaged in a packed agenda where donors expressed appreciation for the impactful and relevant programs PPIAF delivers.
After decades of private sector growth, private capital holds most available global finance. The rise of private wealth coincided with the decline of public wealth in developed countries, which now hold zero or even negative shares in total wealth due to significant public debt burdens, according to the 2022 World Inequality Lab Report. Moreover, the 2023 IMF Global Debt Monitor revealed that global public debt reached 90% of GDP in 2022, a dramatic increase from the 30% recorded in the early 1970s.
World Bank toolkit on best practices in gender equality and infrastructure PPPs.
The World Bank Group recently published a primer titled 'Project Development Funds (PDFs) - Supporting Project Preparation to Structure Successful Public-Private Partnerships (PPPs)' to help better understand how to establish and operate PDFs.
This climate toolkit aims to embed a climate lens and approach into upstream PPP advisory work and structuring. If structured correctly, PPPs can increase climate resilience offering innovative solutions to address both mitigation and adaptation challenges.
This event will focus on fostering an enabling environment for optimizing pooled investment vehicles in attracting private financing for climate and infrastructure projects, highlighting successful models and best practices.
