Husni calls on multilateral bodies to consolidate expertise, resources
Published on: Thursday, October 23, 2014
KUALA LUMPUR: Multilateral organisations such as the World Bank, Asian Development Bank and the proposed Asian Infrastructure Investment Bank should explore ways to consolidate their expertise and resources instead of just providing funds, Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah said. He said this would enhance the efficiency and effectiveness of the implementation of initiatives to meet global infrastructure needs. Sharing Malaysia's experience, he said Malaysia's infrastructure development was significantly aided by the strengthening of the capital markets and the role of development financial institutions such as Bank Pembangunan Malaysia Berhad.
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"Malaysia has also implemented various private finance initiatives through public-private partnership to facilitate infrastructure investments and economic growth," he said in a statement over his remarks at the 21st Apec Finance Ministers' Meeting (APEC FMM) in Beijing, Wednesday. Husni said there was a real need for massive infrastructure investments in the region as it played a vital role in unleashing economic growth potential, promoting connectivity, and reducing the cost of trade, investment and people mobility. On the creation of the ASEAN Infrastructure Fund (AIF), he said it would help reduce the funding gap for infrastructure investments in the region. "The proposed AIF is progressing well and it will soon enhance its funding structure to include investments from the private sector," Husni, who leads the Malaysian delegation to the two-day Apec FMM, said.
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