The chief of the International Monetary Fund (IMF) mission to Peru, Alejandro Santos, today pointed out that the development of infrastructure projects will be crucial for the country’s economic growth.
“It is important a number of projects that have already been assessed be implemented, which is critical to the nation's economic growth,” he told Andina news agency.
"Peru faces a substantial infrastructure gap that needs to be closed; there is a huge need to upgrade infrastructure and we have the resources and potential to do so," he added.
Santos said he agreed with World Bank Group President Jim Yong Kim, who on Wednesday hinted that public-private partnerships will help tackle the infrastructure deficit, which is one of the fundamental bottlenecks to boosting job creation and reducing poverty.
In this regard, Santos informed that infrastructure projects under evaluation will be implemented hand-in-hand with the private sector, "and that is crucial in order to maintain the economic growth.”
It should be noted the World Bank Group has recently launched the New Global Infrastructure Facility (GIF), that has the potential to unlock billions of dollars for infrastructure in the developing world.
Heads of some of the world’s largest asset management and private equity firms, pension and insurance funds, and commercial banks are today joining multilateral development institutions and donor nations to work as partners in this new initiative.
(END) AQR/AQR/RMB
Published: 10/10/2014