Dr Yakunin spoke as part of a panel on “Filling the Infrastructure Financing Gap – Innovative Tools to Assist Urbanization” at the T20 Summit in Tokyo. He spoke alongside Nicolas J.A. Buchoud, President of The Grand Paris Alliance; Yasuyuki Sawada, Chief Economist and Director General of the Asian Development Bank; and Joseph Eichenberger, Managing Director and Chief Evaluator at the EBRD. The session was moderated by Naoyuki Yoshino, Dean of the Asian Development Bank Institute.
Dr Yakunin discussed the development of infrastructure as an important factor in achieving sustainable economic growth, and in establishing the steady and efficient growth of social well-being indicators over the long run. He discussed the need to create a global network of regional and national hubs for Infrastructure Development, based on cross-institutional coordination. These hubs would work to support the G20 member states, multilateral institutions, businesses, civil society, and local communities in the field of cross border infrastructure development.
DOC continues to work within the framework of Task Force 4: Economic Effects of Infrastructure Investment and its Financing. This task force aims to propose ways of developing quality infrastructure investments which consider financial, climate, and urban planning challenges. This year the policy was discussed in the T20 Secretariat and key recommendations were included in the final document, which was passed to Japanese Prime Minister Abe Shinzo.
By addressing the challenges of the inherent complexity of quality infrastructure investments, mobilization of long-term finance at reasonable costs, and reformation of existing urban management systems amongst other, DOC and the task