Side Event on “Financing the Resilient and Sustainable Infrastructure: Role of Public-Private Partnerships (PPPs)”
Ministry of Environment, Forest and Climate Change, Government of India along with the Coalition for Disaster Resilient Infrastructure (CDRI) organised a side event under the Adaptation Pillar of the Quad Climate Working Group (QCWG) on “Financing the Resilient and Sustainable Infrastructure: Role of Public-Private Partnerships (PPPs)” on 4th December 2023 at the India Pavilion, on the sidelines of the UNFCCC COP 28 at Dubai.
The panel engaged in a discussion on the potential of Public-Private Partnerships (PPPs) as a means of financing resilient and sustainable infrastructure projects. This discourse involved a detailed examination of both challenges and opportunities associated with leveraging PPPs for the financing of infrastructure projects with a focus on resilience and sustainability.
The panel was represented by all Quad countries in person by Ms. Cate Rogers, Assistant Secretary, DFAT (Australia); Ms. Ayuko Kobayakawa, Director of International Climate Change Adaptation Planning, Ministry of the Environment (Japan); Ms. Rajasree Ray, Economic Advisor, Ministry of Environment, Forest & Climate Change (India); Ms. Jacqueline Musiitwa, Senior Climate Finance Advisor, USAID; and Mr. Darshan Patel, Managing Director, US International Development Finance Corporation (USA).The session was moderated by Ms. Alpana Saha, Lead Partnership Specialist at CDRI.
The side event served as a vital platform for sharing impactful cases of PPPs in adapting and enhancing the resilience of infrastructure throughout the Indo-Pacific region. Emphasizing the pivotal role of collaboration among Development Finance Institutions (DFIs), governmental bodies, and private entities in the concerted effort to scale up resilience, the panel underscored the essential requirement for bankable projects. Such projects not only bring confidence in financial markets but also address challenges related to insurance, risk-sharing, and data availability, especially in the face of uncertainties associated with climate risks, through the strategic implementation of climate screening.
In conclusion, the panel highlighted an escalating need for heightened awareness and capacity building among all stakeholders. Additionally, they emphasized the instrumental role played by knowledge-sharing platforms, partnerships, and technical assistance programs in effectively addressing the multifaceted challenges discussed during the event.