According to the group, global infrastructure needs to 2030 are estimated to be $57trl for both public sector and private sector investors in the developing markets and there has been a lack of well-prepared projects to fulfil these needs.
To address this gap and following early stage development, a new online cloud based project development tool for project sponsors the International Infrastructure Support System (IISS), is being launched with the support of major global development banks and key private sector entities to attract and increase investment into infrastructure.
The tool, is an online, secure, scaleable, multi-user preparation platform/service developed with the support of Capgemini. IISS is accessible to public and private sector ensuring a high quality, consistent and systematic approach to early stage project development.
Following successful first stage testing, including analysis and support from PwC, pilot projects are now being undertaken to ensure the robustness of the system in Latin America, Africa, Central Europe and Asia. These are being undertaken by SIF together with the appropriate regional development banks and with the assistance of the World Economic Forum.
Laurence Carter, Senior Director for PPPs in the World Bank Group, said: “The International Infrastructure Support System is an important initiative that has the potential to help increase the supply of commercially viable, sustainable infrastructure investments in emerging markets.”