Nearly a fifth of the $94 trillion in global infrastructure investment needed by 2040 risks being unfunded if current spending trends continue, the G20-backed Global Infrastructure Hub said on Tuesday.
To close the spending gap, annual infrastructure spending needs to rise to 3.5 percent from 3 percent of global gross domestic product, the GIH said in a report.
The report details how much each country needs to spend on infrastructure to 2040, which sectors need it the most and how they far they are from meeting these needs based on current spending trends.
“We believe this information will be key to governments, and indeed those organizations that fund, plan and build infrastructure projects into the future – and providing sustainable cities with social and economic benefits for all,” GIH Chief Executive Chris Heathcote said.
The GIH, set up by the G20 in 2014, aims to help to increase opportunities for