Priorities of the German G7 Presidency Paving the way for forward-looking infrastructure investments for sustainable development
Sustainable infrastructure policy is a development goal. There is an enormous need for investment in emerging economies and developing countries, and it is absolutely essential that we work together with our partners in order to support the development of socially, economically and environmentally sustainable infrastructure worldwide.
In order for the achievement of these internationally agreed goals to be possible, substantial financial resources will be needed. With a view to mobilising this level of funding, at their summit in Carbis Bay in 2021 the G7 heads of state and government launched the Partnership for Infrastructure and Investment (PII), promising to make fundamental changes in infrastructure financing. The German government is developing this Partnership further within the G7 and has designated the BMZ as lead ministry for this task.
The multilateral development banks and national financing institutions will have a special role to play in the further implementation of this initiative. Private contributors are also to be encouraged to scale up their financing for infrastructure projects, because public investments alone will not close the financing gap. An advisory body made up of representatives of multilateral development banks and national financing institutions has therefore been set up. It will support the G7 in answering the question of how to better mobilise private capital for sustainable infrastructure investment.
Recording G7 Dialogue Forum
Leveraging Private Capital for Sustainable Infrastructure Development
As part of the German G7 Presidency, the BMZ hosted a dialogue forum in Berlin on 4 May 2022 with the participation of State Secretary Jörg Kukies (Federal Chancellery) and State Secretary Jochen Flasbarth (BMZ).
The event "Leveraging Private Capital for Sustainable Infrastructure Development" brought together high-level representatives from the G7 countries, multilateral and national development banks, the private sector, associations and partner countries such as India, Indonesia, Senegal and South Africa.
Experiences and proposals for mobilising private capital and expertise for infrastructure were discussed with the aim of developing a way for the G7 to jointly bring about a change towards sustainable infrastructure financing.