G20 Development Working Group Submissions
priority of the DWG and aligns with the core G20
priorities, particularly with respect to progress made
in Financing for Investment as part of the Finance
Track.
COMMITMENT 2: Identify
infrastructure gaps, needs and
funding requirements
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Implementation
Over the past few years, efforts have been made
to improve PPFs, both within and outside the G20
process. G20 activities have been informed by the
work of the Colombia.
In October 2011, the HLP delivered a report on
Infrastructure that identified project preparation
capacity as a major challenge to and constraint on
infrastructure projects development. The HLP report:
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recommended that the size and range of PPFs be
reviewed, with the view to restructuring them on
a more sustainable basis, including the provision
of additional resources, if needed
emphasized that G20 members and other
MDB shareholders should agree on the need
to prioritize project preparation financing within
the MDBs and dedicate a greater share of MDB
funds to preparation facilities on a grant or
revolving basis.
The MDB infrastructure action plan subsequently
included a pillar on improving PPFs' performance.
The plan included an assessment of existing PPFs
in Africa by the Infrastructure Consortium for Africa
(ICA), which could provide a basis for restructuring
a number of such PPFs.
The ICA completed its assessment of PPFs in Africa
in November 2012. The report revealed wide gaps
in project preparation for private sector projects, for
transformative regional projects and for early stage
PPPs. It stressed that PPFs could be more relevant
Tunnels of Funds
Overview of the Assessment of
Project Preparation Facilities for
Infrastructure in Africa
ICA
The statue Cosentino
Learn eles verastetxes en Arque
Assessment of Project Preparation Facilities
for Infrastructure in Africa
©2012 African Development Bank
and effective if coordinated through a "tunnel
of funds" approach, involving greater sharing
of information and more co-operative behavior
based on demonstrated success factors and best
practices. The ICA held a workshop in 2013 to
launch a project preparation network. Consistent
with recommendations of the HLP on Infrastructure
and the ICA report, the African Development Bank
(AfDB) is launching 'Africa 50' fund. The Africa 50
Fund aims to help close the continent's infrastructure
gaps by delivering total infrastructure projects
amounting to US$100 billion, financed from
both private and public sources - pension funds,
sovereign wealth funds, government contributions
and global capital markets. The Bank will be one of
the stakeholders. The mobilized funds will be used
for both preparation of bankable projects and their
implementation.
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