B20 Taskforce on Investments and Infrastructure recommendations

B20 Taskforce on Investments and Infrastructure recommendations

B20 Taskforce on Investments and Infrastructure recommendations could
attract up to $1 trillion to the sector
Saint Petersburg, June 20, 2013 – The Business 20 (B20) Taskforce on
Investments and Infrastructure held its final session on Wednesday, June 20, at the
B20 Summit at the St. Petersburg International Economic Forum. The Taskforce’s
proposals, which were included in the final package of B20 recommendations to
the G20 heads of the states, were approved at the meeting. During the St.
Petersburg Forum, business representatives are to present the set of
recommendations to Vladimir Putin, President of the Russian Federation, which
will be reviewed by G20 leaders at the Summit in Strelna in September of this
year.
The measures proposed by the Taskforce are designed to stimulate investment in
infrastructure projects and focus on three main areas:
 Identification and removal of barriers to the free movement of capital.
Objectives: to increase cross-border investment activity; provide investors with
equal access to investments across all the countries.
 Stimulating private investment in infrastructure projects and other real
economy assets across all countries: creation of a $200 million G20 Project
Preparation Fund.
Objectives: to increase the number of affordable structured infrastructure
projects; develop new financial guarantees and reduce project financing costs.
 Increase productivity of investments in infrastructure and green energy
projects by encouraging the application and development of international best
practices: building an infrastructure research network, including the
establishment of a Competence Center in Moscow; development of a set of
public-private partnerships; formation of an expert group on energy.
Objectives: to increase capital efficiency; create savings of up to $1 trillion a
year on investments in infrastructure.
Ksenia Yudaeva, Chief of the Presidential Experts’ Directorate of the Russian
Federation, the Russian G20 Sherpa said:
"Stimulating investment for economic and employment growth, including through
infrastructure projects, is one of the main priorities of Russia's G20 presidency.
The recommendations of the Taskforce on “Investments and Infrastructure” offer
viable solutions to restoring pre-crisis investment levels and maintaining rapid
growth for infrastructure investments over the long-term. We have worked with
experts of the highest quality whose work alongside the Russian and foreign cochairmen of the Taskforce has been outstanding.”
Kirill Dmitriev, CEO of Russian Direct Investment Fund (RDIF), Chairman of
the B20 Taskforce on “Investment and Infrastructure” commented:
"The key objective of our recommendations is to create the optimal conditions for
global economic growth by promoting investment, especially in infrastructure.
Approximately $60 trillion of global investments into infrastructure will be
required in the run up to 2030. This represents more than the value of all the
existing infrastructure today. The introduction of international best practices in
infrastructure development would save up to $1 trillion per year, enabling world
GDP to grow by at least 3% if these savings were re-invested."
Marcus Wallenberg, Chairman of Skandinaviska Enskilda Banken, Chairman of
the G20 Advisory Group at the International Chamber of Commerce said:
“Open cross-border investment is an essential contributor to growth, development
and jobs. G20 leaders should advance an international investment agenda by
agreeing on a set of recommendations governing a high-standard G20 multilateral
investment framework to be endorsed by all G20 governments. The 2012
International Chamber of Commerce (ICC) Guidelines for International
Investment should be used as a template for such a framework.”
Martin Stanley, Global Head of Macquarie Infrastructure and Real Assets stated:
"Infrastructure development and renewal is critical to stimulating economic
growth, but there is a growing gap between the demand for infrastructure and
Governments’ ability to pay for it. The B20 Task Force is to be commended for its
work on addressing this gap, encouraging new funding models and global
standards for best practice in regulation and public to private processes. Such
steps would help to create investor confidence and to attract a growing pool of
long-term capital to where it is needed most.”
The Taskforce meeting was attended by the representatives of major investment
banks, global sovereign and pension funds, leading transnational companies,
international financial organizations and consultancies. Among them:
 Dany Truell, Chief Investment Officer at Wellcome Trust;
 Natalia Khanjenkova, Managing Director, EBRD;
 Hans-Paul Bürkner, Chairman, The Boston Consulting Group (BCG);
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Steven Kandarian, Chairman of the Board, President and CEO, Metlife;
Richard Goyder, Chief Executive Officer, Wesfarmers
Hamish Tyrwhitt, Chief Executive Officer, Leighton Holdings
Vivek Kudva, Managing Director India and CEEMEA, Franklin
Templeton Asset Management
 Antonio Brufau, Chairman & CEO, Repsol
 Dick Cashin, Managing Partner, One Equity Partners
 Alex de Valukhoff, Country CEO, Lafarge Russia
The Russian Direct Investment Fund (RDIF) was established in June 2011 to
make equity investments primarily in the Russian Federation. RDIF’s
management company is a 100 per cent subsidiary of Vnesheconombank. In each
investment it makes, RDIF is mandated to secure co-investment that as a
minimum matches its commitment, thus acting as a catalyst for direct investment
into the Russian economy. Further information at www.rdif.ru
Contact person for more information:
Maria Medvedeva,
Press Secretary of RDIF
Mobile phone: +7 964 726 1773
E-mail: [email protected]
Hudson Sandler
Andrew Hayes/Maria Ignatova/Elena Kuza/Charlie Barker
Tel: +44 (0) 20 7796 4133