A new online cloud-based project development tool is being launched by major global development banks and key private sector bodies to attract and increase investment into infrastructure - global infrastructure needs to 2030 are estimated to be US$57 trillion.
The European Bank for Reconstruction and Development says that global infrastructure needs to 2030 are estimated to be $57 trillion. However, the EBRD says that for both public sector and private sector investors in the developing markets there has been a lack of well-prepared projects to fulfil these needs - leading to a widening infrastructure gap between what is required and what is delivered.
Following early stage development by the Asian Development Bank, a new online cloud-based project development tool for project sponsors – the International System for Infrastructure Support (IISS)– is being launched with the support of major global development banks and key private sector entities to attract and increase investment into infrastructure.
Implemented by the Geneva based non-profit foundation, the Sustainable Infrastructure Foundation, IISS is an online, secure, scaleable, multi-user preparation platform/service developed with the support of Capgemini. IISS is accessible to both the public and private sectors ensuring a high quality, consistent and systematic approach to early stage project development.
Following successful first stage testing, including analysis and support from PwC, pilot projects are now being undertaken to ensure the robustness of the system in Latin America, Africa, Central Europe and Asia. These are being undertaken by SIF together with the appropriate regional development banks and with the assistance of the World Economic Forum.
Earlier this week SIF showcased IISS at its second annual meeting on November 4th, 2014 at the headquarters of the European Bank for Reconstruction and Development in London.
Matthew Jordan-Tank, EBRD Head of Infrastructure Policy, said:
“We are delighted to welcome SIF together with other supporters to London to underpin and strengthen our support for this promising new cloud-based project facilitation system. These are the types of innovations that will drive an uplift in infrastructure investment over the medium term and beyond."
Laurence Carter, Senior Director for PPPs in the World Bank Group, added:
“The International Infrastructure Support System is an important initiative that has the potential to help increase the supply of commercially viable, sustainable infrastructure investments in emerging markets. With the support of the Public-Private Infrastructure Advisory Facility (PPIAF – a World Bank multi-donor trust fund), we look forward to collaborating with other partners on this initiative to help bring the public and private sectors together to unlock a pipeline of viable and bankable public-private partnership projects.”
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