Meeting on infrastructure investment in Latin America co-organized with SEGIB

(Madrid, May 28, 2012).- The Business Meeting: Public-private partnerships to accelerate infrastructure development, held today in Madrid co-organized by the Ibero-American General Secretariat (Segib) and CAF - bank development of Latin America � was attended by senior representatiives of the public and private infrastructure sectors in Ibero-America.

CAF President Enrique García stressed the need to increase investment in infrastructure in Latin America as one of the key factors for development and integration."The region invests less than 3 percent of its GDP in infrastructure, while China, for example, invests 10 per cent, and the average of advanced countries is between 5 and 6 percent. Latin America needs to double its infrastructure investment if it wants to narrow the gap with the developed world and achieve the growth needed to offer a better quality of life to its people," he said.

García added, "the public and private sectors need to follow this path together by forming strategic partnerships which is a crucial first step for stimulating the growth we need."

The event, which was one of the preparatory meetings for the Ibero-American Summit to be held in November in Cadiz, was addressed by Prince of Asturias Felipe de Borbon, Ibero-American Secretary General Enrique V. Iglesias, Spanish Secretary of State for Infrastructure Rafael Catalá, and Spanish Development Minister Ana Pastor.

Other speakers were Luis Alberto Moreno, president of the Inter-American Development Bank; María Emma Mejía, UNASUR secretary general; and Miriam Belchior, Brazilian Planning Minister, among others.

To generate knowledge on the theme of the event, CAF has prepared the IDeAL series (Infrastructure for Development of Latin America), a publication that provides a strategic assessment of the infrastructure of the countries of the region with the aim of presenting a proposed agenda for the coming years which gives an integrated view of sustainable development, integration, social inclusion and improved quality of life of Latin Americans. The study covers the sectors of transportation in all modes, electricity, telecommunications, finance, natural gas, drinking water and sanitation.