World Bank to "scale up" infrastructure investments
07 August 2008
The World Bank Group has announced an action plan to "significantly scale up" infrastructure support to developing countries in their growth and poverty reduction efforts.
The Sustainable Infrastructure Action Plan (SIAP), to be implemented over the next three years, will help countries improve the "reach and quality" of infrastructure investments through increased financial and analytical support.
The value of World Bank Group financing and advisory services in the energy, transport, water, and information and communications technologies sectors is expected to reach US$ 59 to 72 billion in fiscal years 2008-2011, compared with US$ 41 billion over the previous four-year period.
Until the end of Fiscal Year 11, the World Bank Group estimates it will leverage its US$ 59 to 72 billion in investments to provide an additional US$ 109 to 149 billion through Official Development Assistance, as well as public and private sector investments.
Commenting on the announcement, Katherine Sierra, World Bank vice president for Sustainable Development, said, "Modern, cost-effective, reliable, and affordable infrastructure services are critical for sustainable development.
"Our client countries are asking us to do more to help bring these services to the almost 900 million people without access to safe water, the 1.6 billion people without electricity, the 2.5 billion people without sanitation services, and the estimated one billion people without easy access to an all-weather road.
"The Action Plan is a roadmap to guide our scaled up investments in infrastructure in a way that also supports environmental sustainability and social inclusion," she added.
