The Global Infrastructure Facility is a/an

(a)

ASEAN initiative to upgrade infrastructure in Asia and financed by credit from the Asian Development Bank.

(b)

World Bank collaboration that facilitates the preparation and structuring of complex infrastructure Public-Private Partnerships (PPPs) to enable mobilization of private sector and institutional investor capital.

(c)

Collaboration among the major banks of the world working with the OECD and focused on expanding the set of infrastructure projects that have the potential to mobilize private investment.

(d)

UNCTAD funded initiative that seeks to finance and facilitate infrastructure development in the world.

Answer:

(b)

Explanation

• The World Bank (WB) has launched the GIF to specifically cater to the infrastructure needs of the emerging economies and developing countries. • The GIF will channel money towards bankable infrastructure project in such countries. • GIF also places importance on sustainable development. Its key focus will be on climate friendly infrastructure investments and projects that will boost trade. • Key Objectives : 1. Mobilizing the private sector: Concentrating on financing and implementation modalities that draw together the comparative advantages of the public and private sectors to expand investment and improve infrastructure services. 2. Collaborating for best results: Mobilizing partners’ technical and financial resources in an innovative and flexible way to achieve greater leverage and address the complex infrastructure financing challenges that are beyond the resources of any individual partner.