World Bank Launches Global Infrastructure Facility (GIF)
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.
The GIF will collaborate with other international and multilateral agencies which provide loans and financial assistance to countries across the globe. It will also help these agencies with its expertise in financing, supervising and implementing projects. Another areas where GIF could provide assistance it ensuring that all regulatory, environmental and social safeguards are met with while investing in large scale infrastructure projects. GIF will also work with private entities like asset management companies, private equity firms, pensions and insurance funds and commercial banks to tap into multiple sources of funding.