Ambassador Akram advocates sustainable infrastructure investments

Pakistan has emphasized the importance of developing infrastructure connectivity to enhance global resilience and support sustainable development, particularly in developing nations. Ambassador Munir Akram, co-chair of the Group of Friends of Sustainable Infrastructure Investment, highlighted the need for a significant shift towards sustainable infrastructure in various sectors such as energy, transport, housing, communications, and production to achieve the Sustainable Development Goals (SDGs) by 2030 and address climate objectives.

Ambassador Akram pointed out the insufficient public and private investments in sustainable infrastructure, especially in developing countries, where financial resources are limited. He stressed the necessity of mobilizing more concessional finance to reduce risks, enhance credit quality, and attract private investments. According to UNCTAD, there is an annual infrastructure funding gap of $2.5 trillion, with a substantial portion in developing nations. The envoy also highlighted the estimated financing needs for clean energy, emphasizing the importance of increasing investments in renewable energy projects.

To address these challenges, Pakistan proposed the establishment of a public-private entity under UN guidance to assist developing countries in formulating viable infrastructure projects that can attract investments. This entity would facilitate collaboration among stakeholders, develop regulatory frameworks, and implement de-risking measures to encourage private investments in developing nations.

In conclusion, Pakistan's call for enhanced infrastructure connectivity and sustainable investments underscores the critical role of sustainable development in achieving global goals and building resilience in the face of challenges.