Remarks by Angel Gurría
Buenos Aires, Argentina - 21 July 2018
(As prepared for delivery)
Ministers, Central Bank Governors,
I want to congratulate the Argentinian Presidency for developing the Roadmap to Infrastructure as an Asset Class. The OECD strongly supports this important initiative and has actively contributed to its development over the past months.
As part of its support, the OECD, together with the World Bank, has compiled a Stocktake of Tools and Instruments Related to Infrastructure as an Asset Class. The Stocktake maps out existing international tools, standards, and instruments that provide a common skillset for policy making and for projects on the ground.
To establish infrastructure as an asset class, data and performance benchmarks are crucial. The OECD joined forces with major MDBs, the Global Infrastructure Hub, other IOs and private sector partners to establish the so-called Infrastructure Data Initiative. This initiative, for which the OECD also acts as the Secretariat, aims at identifying data gaps that hinder investment in infrastructure, improve performance reporting and benchmarking for infrastructure projects. I would like to encourage all G20 members to fully support this initiative.
The OECD will also support the proposed agenda on quality infrastructure under the upcoming 2019 Japanese G20 Presidency. This topic will be a central part of a new horizontal OECD project on sustainable infrastructure, bringing together 17 OECD directorates and agencies. As a first step under this project, the OECD will deliver by 2019 to OECD and G20 members a set of integrated and multidisciplinary international guidelines for action to promote quality infrastructure.
Finally, the OECD is also happy to have delivered to you today the G20/OECD Effective Approaches for Implementing the G20/OECD High-Level Principles on SME Financing. Access to finance is a major challenge that SMEs face. The effective approaches can help governments design and implement policies to overcome this challenge.