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The crisis arising from COVID-19 came on top of weakening economic prospects in many emerging economies. Aside from its toll on lives and wellbeing, the crisis reduced incomes while increasing government debt, unemployment, inequality, and poverty levels. It also exposed structural issues, including the vulnerability of households and firms to health and economic shocks.
While still dealing with the immediate impacts, governments must also explore how best to stimulate longer-term economic growth and increase employment while achieving greener, resilient, and inclusive development (GRID).
Infrastructure investment can be a fundamental part of the solution.
Climate considerations, resilience, and inclusivity must be a part of the design of future infrastructure investment programs. Better infrastructure governance can also promote strong decision-making and service delivery.
The Quality Infrastructure Investment (QII) Principles, approved by the G20 in 2019, provide a framework for approaching infrastructure investment in line with GRID.
