SINGAPORE, June 1, 2020-Infrastructure Asia (Infra Asia), Singapore Management University (SMU) and the World Bank Group (WBG) have partnered to design and develop a capacity building program for senior and mid-level regional government officials in the infrastructure sector. The program was launched at a virtual signing ceremony on June 1, 2020, graced by Ms. Indranee Rajah, Minister in the Prime Minister's Office and Second Minister for Finance and Education.
The program combines the strengths of each partner - Infra Asia's connections with players in the regional infrastructure ecosystems, SMU's industry collaborative networks, and the WBG's global development expertise. Called 'Growing Infrastructure - Enabling & Structuring for Private Sector Participation in Finance and Innovation,' the program aims to raise participants' awareness of available solutions to support sustainable and resilient infrastructure development for the region's long term economic growth. Participants would also be equipped with the knowledge and skills to create a regulatory environment that is friendly toward private sector involvement in infrastructure.
The first run of this program is expected to focus on clean energy1, a sector that has proven to be resilient amidst the COVID-19 pandemic. COVID-19 has also led to a greater interest amongst regional policymakers in sustainable infrastructure, including clean energy. Many international financial sources also remain available and have expressed interest to support clean energy projects.
'Given that the regional infrastructure funding gap can be closed by mobilizing private capital, it is important that governments create a regulatory environment friendly to private sector involvement. Through our continued efforts with valued partners, we hope to support Asia's infrastructure development and at the same time spread the word about Singapore-based solutions,' said Mr. Seth Tan, Executive Director, Infrastructure Asia.
Together with Infra Asia, the WBG has looked into different models of how such a knowledge gap can be bridged. This program, tailored to the needs of the region, was initiated by combining the WBG's experience on capacity building programs and expertise in private sector financing and structuring, and Infra Asia's deep knowledge of the region. The WBG will also bring its collective development knowledge and deep understanding of the most pressing challenges and constraints facing clients globally to bear on the content and structure of the program.
'The challenges posed by the COVID-19 pandemic reinforce the imperative of investing in well-designed infrastructure for sustained economic growth, with a unique opportunity to do so with greater sustainability and resilience. The World Bank Group is delighted to be a strategic partner in this critically important program to harness Asia's collective expertise with collaboration between private players, governments and multilateral banks,' said Ms. Jyoti Shukla, Director, World Bank Singapore.
SMU will serve as the academic partner delivering the program, anchored by faculty members from its schools of Business, Economics and Information Systems. The program will be designed as an interactive and collaborative program comprising real-life case studies, site visits as well as fireside chats with international thought leaders.
'By developing deeper expertise and skillsets of leaders within the sector, we aim to make a meaningful impact in Singapore and beyond. These senior executives will also be equipped with new knowledge to tackle unforeseen challenges and imagine a better world in which to live, work and thrive,' said SMU President, Professor Lily Kong.
To register your interest in the course, click here.
1 Clean energy projects such as renewables face less disruption with shorter supply chains and modular components.
For media queries, please contact:
Foo Xiao Xuan (Ms.)
Corporate Communications, Enterprise Singapore
DID: (65)(6433 4400)
Rebecca Fan (Ms.)
Lead, Infrastructure Asia
DID: (65) 9853 2664
World Bank Group
Daniel Levine (Mr.)
Senior Country Officer, World Bank Singapore
DID: (65) 6501 3659
Anna Ng (Ms.)
Country Officer, IFC Singapore
DID: (65) 6501 3775
Singapore Management University
Valerie Won (Ms.)
Assistant Director, Office of Corporate Communications and Marketing
DID: (65) 6828 0020 Mobile: (65) 9734 2969
About Infrastructure Asia
Infrastructure Asia aims to support Asia's social and economic growth through infrastructure development. Infrastructure Asia was established by Enterprise Singapore and Monetary Authority of Singapore to support infrastructure financing and development in the region. It does so through early project scoping, best practice sharing and brokering, harnessing Singapore's best-in-class infrastructure ecosystem (international developers, engineering and professional services, along with financial institutions and multilateral development entities). It also works with global players in the regional infrastructure ecosystem and leverages the collective capabilities and networks of various government agencies to catalyse more trade and investments into infrastructure in the region.
About Singapore Management University
A premier university in Asia, the Singapore Management University (SMU) is internationally recognised for its world-class research and distinguished teaching. Established in 2000, SMU's mission is to generate leading-edge research with global impact and to produce broad-based, creative and entrepreneurial leaders for the knowledge-based economy. SMU's education is known for its highly interactive, collaborative and project-based approach to learning
Home to over 10,000 students across undergraduate, postgraduate professional and post-graduate research programmes, SMU, is comprised of six schools: School of Accountancy, Lee Kong Chian School of Business, School of Economics, School of Information Systems, School of Law, and School of Social Sciences. SMU offers a wide range of bachelors', masters' and PhD degree programmes in the disciplinary areas associated with the six schools, as well as in multidisciplinary combinations of these areas.
SMU emphasises rigorous, high-impact, multi- and interdisciplinary research that addresses Asian issues of global relevance. SMU faculty members collaborate with leading international researchers and universities around the world, as well as with partners in the business community and public sector. SMU's city campus is a modern facility located in the heart of downtown Singapore, fostering strategic linkages with business, government and the wider community. www.smu.edu.sg
About the World Bank Group, Singapore Office
The World Bank Group (WBG) Singapore Office is the largest office co-locating the World Bank, IFC and MIGA ('One World Bank Group') with 202 staff across the World Bank, IFC and MIGA.
The Hub's value proposition stems from its comparative advantage in accomplishing operational efficiency, innovation from collaboration and leveraging Singapore's experience and expertise. The potential innovation that can come from collaboration among infrastructure and urban-related units and across WBG divisions when collocated under a single structure, as well as the Hub's potential to showcase Singapore's efficiency and attractiveness as a center of operations for the East Asia Region and beyond is key to the office's value add. Moreover, Singapore's unique and 'within memory' experience and role as a center of financial markets, infrastructure and urban-related technologies and solutions provide G2G experience sharing opportunities.
The Singapore Hub reflects the complementary roles of the various WBG institutions to connect financial resources, knowledge, and innovative solutions to the needs of the countries in Asia and beyond. Business units work with the public sector in the region to develop legal and regulatory frameworks, undertake key policy reforms, and engage with the public sector, private sector, and academic institutions maximize their impact and reach, both as a financier and as a source of knowledge, expertise, and innovation that can yield transformative solutions.
Also published on Infrastructure Asia's website.