The World Bank and Singapore have launched a regional infrastructure finance center of excellence to help Asian governments tap private capital for infrastructure schemes.
The center will support technical assistance and capacity building, consultancy and feasibility studies, marketing and promotion, and research to help regional governments develop commercially viable infrastructure projects.
“The IFCOE is a timely initiative by the World Bank and Singapore to help unlock private sector investment in Asian infrastructure. It also reflects the growing partnership between Singapore and the World Bank, and our shared interest in supporting the region’s development,” said Singapore Minister for Finance Tharman Shanmugaratnam. “Singapore looks forward to continued partnership with the World Bank in the years ahead, building on the strong foundations that we are laying.”