Asia’s gross domestic product (GDP) can rise by as much as 2.5 percent over 10 years by improving financing options for infrastructure projects.
Singapore’s Minister for Trade and Industry, Lim Hng Kiang, was speaking at the World Bank Singapore Infrastructure Finance Summit at the Intercontinental Hotel yesterday. He said more bankable projects must be created alongside better matching of these projects with institutional investors.
"Efforts must be made to enhance the bankability of Asian infrastructure projects, or we will lose the opportunity to bring in private sector capital, and the onus will fall on governments to provide the funding required," Lim noted.
The Minister also revealed plans to create a talent pool that will focus on the infrastructure finance asset class. He said that later this year the Singapore Economic Development Board will debut the Asia Leaders Programme in Infrastructure Excellence (ALPINE) to train mid-level executives from both governments and companies in the infrastructure value chain.
An internship programme focusing on infrastructure will also be launched in partnership with the National University of Singapore.
The Summit, now in its fifth year, was organised by the World Bank Group, the Singapore Ministry of Finance, the Monetary Authority of Singapore and the Financial Times, in association with the World Bank – ASEAN Infrastructure Finance Network with support from the Australian Government.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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