As Asia and the Pacific comes out of the crisis with significantly larger public debts, their infrastructure investments will need to be efficient, affordable, and sustainable.
Out of crisis comes opportunity is a common refrain and perhaps there is no better time than now to preview what follows on the Covid-19 relief and recovery support. Infrastructure development has been a cornerstone of Asia and the Pacific’s successful growth and development strategy. It has served to strengthen income per capita, improve livelihoods and lower poverty through investment led growth. In parallel, it has supported the Sustainable Development Goals, recognizing the crucial link between infrastructure development and service delivery.
|With post-pandemic re-opening of economies, Asia’s infrastructure projects are getting back on track. Photo: Yancy Min.|
High quality infrastructure is critical to continue to deliver on these gains. The Quality of Infrastructure Investment (QII) was central to the deliberations of the G20 Finance Ministers and Central Bank Governors, which endorsed the new G20 Principles for QII at their meeting in Fukuoka, Japan in 2019.
Bruno Carrasco is Chief of Governance Thematic Group, Sustainable Development and Climate Change Department, ADB. Hanif Rahemtulla is Senior Public Management Specialist, ADB