Strategy for Australia's Investments in Economic Infrastructure
Summary of publication
The Minister for Foreign Affairs has approved the Strategy for Australia Aid Investments in Economic Infrastructure. This Strategy prioritises investment in infrastructure as part of the strategic target of the Government's commitment to scale-up the aid for trade portfolio. It covers transport, energy, large–scale water and sanitation, and ICT infrastructure investments and provides guidance to support the Government's development, economic diplomacy and trade priorities. The Strategy identifies the following key priorities:
- mobilise the private sector to finance and deliver infrastructure to meet the needs of the region;
- improve access to infrastructure services to facilitate private sector and human development and promote women's participation and empowerment; and
- promote infrastructure to enhance trade and connectivity throughout the region.
Implementing the Strategy will involve working with partner governments on physical infrastructure construction and maintenance, as well as strengthening the policy and regulatory environment for efficient and inclusive infrastructure investment. We will:
- facilitate greater private investment in infrastructure by helping partner governments to get the policy and regulatory settings right, and by promoting public-private partnerships (PPPs)
- invest in infrastructure that enables private sector and human development, such as transport infrastructure and water systems
- expand access to reliable energy–vital for businesses and for communities
- unlock transformational information and communication technologies to expand access to banking services, market information, and commercial opportunities
- work with multilateral organisations that have significant expertise in innovative solutions to deliver enabling infrastructure
- work through international fora, such as Asia-Pacific Economic Cooperation (APEC), Association of Southeast Asian Nations (ASEAN) and the G20, to address systemic barriers to investment in infrastructure.