Majority of developing countries do not have the public resources to finance infrastructure: Munir Akram

NEW YORK, April 21 (SABAH): At the United Nations, Pakistan has called for development of infrastructure connectivity to fortify global resilience and promote sustainable development, especially in developing countries.

The call was made by Pakistan’s Permanent Representative to the United Nations, Munir Akram in his capacity as co-chair of the Group of Friends of Sustainable Infrastructure Investment, while delivering a statement during the UN General Assembly’s Sustainability Week in New York.

Munir Akram said the achievement of the 17 Sustainable Development Goals by 2030 and our climate goals require a major transition to sustainable infrastructure in energy, transport, housing, communications and industrial and agricultural production and consumption.

The Pakistani envoy said majority of developing countries do not have the public resources to finance infrastructure nor are they able to secure sufficient private investment.

He called for mobilizing significantly larger concessional finance enhance credit quality and incentivize private infrastructure investment in the developing countries.