- Thursday, April 25, 2024
By: Radhakrishna N S
THE UK’s Indian-origin cabinet minister, Alok Sharma, announced a new commission, bringing together leading experts to turbo-charge quality infrastructure projects in developing countries.
The focus of the new panel launched on Wednesday (28) by the British international development secretary will help make investment in infrastructure in the world’s poorest nations more attractive to businesses and investors.
The International Development Infrastructure Commission will be made up of the UK and international business leaders, bringing the best of British expertise.
The panel will make recommendations to improve the planning, delivery, and financing of infrastructure projects in developing countries.
Mobilising private sector funding in infrastructure is essential to help plug the annual £2 trillion ($2.5 trillion) gap that the poorest countries need to meet the global goals.
Sharma said: “An extra $2.5 trillion is needed every year to end poverty in developing countries and the UK must mobilise private sector investment to overcome this challenge.
“Alongside the lifesaving work of the UK aid, we need to boost infrastructure projects that form the backbone of economic growth.
“This commission will aim to turbo-charge investment in green, sustainable infrastructure, leading to more jobs, better access to basic services and opportunities for businesses, creating the UK’s future trading partners.”
The commission is devised as a group of infrastructure leaders from the UK, Africa, and Asia, who will advise Sharma on how to increase the UK’s role in promoting inclusive growth while meeting environmental commitments.
The panel will help facilitate private sector support to build more sustainable and resilient cities and improve access to clean energy and water.
