Pacific Alliance to create infrastructure fund

By Thomas Allen07 August 2018

Pacific Alliance

From left to right: Juan Manuel Santos, president of Colombia; Martin Vizcarra, president of Peru; Pena Nieto, president of Mexico; and Sebastian Pinera, president of Chile, at the XIII Summit of the Pacific Alliance

The Pacific Alliant – comprising Mexico, Colombia, Peru and Chile – has agreed to set up an infrastructure investment fund.

Intended to improve connectivity in the region, the fund will receive investments both from private entities and from institutions from within the bloc and globally. These include the Inter-American Development Bank (IDB) and the Development Bank of Latin America (CAF), according to Chile’s finance minister Rodrigo Valdés.

Martín Vizcarra, president pro tempore of the alliance, said that the primary objective now is to decide what structure the fund will have. It remains to be established how investors will be matched to projects, the type of corporate governance the fund will have, and each Pacific Alliance country’s share in it.

Speaking at the XIII Summit of the Pacific Alliance, Vizcarra said, “This fund will attract private investment to reduce our infrastructure gap and boost competitiveness.”

Authorities have estimated that the initiative could mobilise more than US$100 billion.

MAGAZINE
NEWSLETTER
Delivered directly to your inbox, World Construction Week Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Longer Reads
Post-pandemic demand leads to long delivery times
Government stimulus measures following the global pandemic have led to a surge in demand for construction equipment
Industry interview: Sany builds towards a sustainable future
Industry interview: Sany takes steps towards building a sustainable future
Opinion: Connected construction
Ian Barnes of Sitech UK & Ireland, offers advice on building a connected construction site
CONNECT WITH THE TEAM
Andy Brown Editor, International Construction Tel: +44 (0) 1892 786 224 E-mail: andy.brown@khl.com
Simon Kelly Sales Manager Tel: +44 (0) 1892 786 223 E-mail: simon.kelly@khl.com
CONNECT WITH SOCIAL MEDIA