The Global Infrastructure Hub has urged Multilateral Development Banks to become "joined-up" in their approach to promoting new infrastructure in emerging countries.
Speaking at the Asian Infrastructure Investment Bank's 2017 Annual Meeting, the Hub's Chief Operating Officer Mark Moseley said MDBs should be working collaboratively to ensure they are "not acting at cross-purposes with other donors".
He also called for MDBs to work together in the area of project preparation.
"The shortage of properly prepared projects is the greatest impediment to attracting private investment in infrastructure - and the project preparation facilities are key to solving that problem," he said.
"But this solution will never come to pass if all of the various project preparation facilities are not talking to one another and working closely with each other."
Mr Moseley also said that “we should not insist that countries in emerging markets fully develop their legal, regulatory and institutional frameworks prior to embarking on their first private-sector infrastructure project. Instead, we should encourage such countries to experiment with a few pilot projects, on a ‘learn by doing’ basis”.
The GI Hub last year produced a report for the G20 on MDB Internal Incentives for Crowding-in Private Investment in Infrastructure, aimed at providing key advice on how MDBs can work better to “crowd-in” the trillions of dollars held in private investment to fund much-needed public infrastructure.
