Does Latin America have the infrastructure it needs or deserves given its income level? The answer is no.
Latin America has the second lowest rates in infrastructure investment as a share of GDP among developing regions - less than 3 percent compared to 4-8 percent elsewhere. So how do we overcome this?
For a long time, the Infrastructure narrative suggested that if a region underperforms on infrastructure, it has to spend more. However, in recent years, many Multilateral Development Banks (MDBs) and other multilateral institutions like UNECE and the IMF have advocated that the focus should be on the service gap, rather than on a notional, and largely hypothetical, investment gap. To the question of, “how much is needed?” the response should be: “for what?”
In this event, we will debate a paradigm shift: how to transition from “spending more” to “spending better”. We will highlight a path that helps the region move from structures to services and improve infrastructure for all.