Spend better, not more, on infrastructure, says World Bank

Interview with Jorge Familiar, vice-president for Latin America and the Caribbean at the World Bank Insufficient infrastructure remains one of the main impediments to Latin America’s economic growth and development. Estimates put the infrastructure gap at $180 billion a year. However, at present the region devotes just 3 percent of GDP to infrastructure, compared to 4-8 percent elsewhere in the developing world. However, highlighting a recent report from the World Bank, Jorge Familiar, vice-president for Latin America and the Caribbean at the World Bank tells Latin Trade that the region can make a great deal of progress by prioritizing specific projects. “Instead of simply identifying the value of the gap, the region needs to ask what services need to be fulfilled, identify the priorities, and embark on […]