Q. 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
Notes:

Explanation:

  • The Global Infrastructure Facility (GIF) is a partnership among governments, multilateral development banks, private sector investors, and financiers. It is designed to provide a new way to collaborate on preparing, structuring, and implementing complex projects that no single institution could handle on its own.
  • The comprehensive project support provided by the GIF draws on the combined expertise of its technical and advisory partners.
  • This group, which includes commercial banks and institutional investors, ensures that well-structured and bankable infrastructure projects are brought to market in a way that sustainably meet the needs of governments and service users. Funding partners provide financial contributions to the GIF.
  • The GIF partnership is overseen by a Governing Council that supervises strategic programming and funds management as well as the development of operational policies and procedures. It also holds the GIF’s management accountable for delivering on objectives and principles.
  • The Governing Council comprises representatives of funding and technical partners and representatives of emerging markets and developing economies, and is co-chaired by the World Bank Group and a Funding Partner.

Source: ForumIAS

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