MEMORANDUM OF HEAD OF DEPARTMENT AND EXECUTIVE AGENCY
SUBJECT: Partnerships for Global Infrastructure and Investment
With the powers conferred upon me as President under the Constitution and laws of the United States of America, and to establish the policies and approach of my Administration to implement the Partnership for Global Infrastructure and Investment (PGII), hereby ordered as follows:
Part 1. Policy. Infrastructure is very important to encourage productivity and people’s prosperity. When done well, infrastructure connects workers to good jobs; enable the business to grow and develop; facilitate the delivery of vital services; create opportunities for all segments of society, including the underserved; move goods to the market; enables rapid information sharing and communication; protect communities from the effects of climate change and public health crises or other emergencies; and support global relations between countries. Infrastructure comes in all shapes and sizes, from large-scale energy systems that drive inclusive economies, to local healthcare networks that contribute to global health security, to innovative infrastructure developed through investment from financial institutions and small and medium-sized enterprises. sized company. My Administration is making urgent once-in-a-generation investments in domestic infrastructure that will create jobs, help tackle the climate crisis, and help the Nation recover from the coronavirus disease 2019 (COVID-19) pandemic –– and a similar focus is needed around the world.
Internationally, infrastructure has long been underfunded, with an estimated need of more than $40 trillion in developing countries –– a need that will only increase with the climate crisis and population growth. Many low- and middle-income countries do not have adequate access to high-quality financing that meets their long-term infrastructure investment needs. Too often, financing options lack transparency, fuel corruption and poor governance, and create an unsustainable debt burden, often leading to projects that exploit, rather than empower, workers; exacerbating challenges faced by vulnerable populations, such as forced displacement; destroying natural resources and the environment; threaten economic stability; undermine gender equality and human rights; and a lack of focus on cybersecurity best practices — failures that can contribute to vulnerable information and communication technology networks.
The lack of investment in infrastructure is not only financial, but also technical. Delivering high-quality infrastructure in low- and middle-income countries should include helping to build and enhance the necessary institutional and policy frameworks, regulatory environment, and human capacities to ensure sustainable service delivery to communities; define strong engineering, environmental, social, governance, and labor standards; and drafting projects to attract private investment. Through the PGII, the United States and like-minded partners will emphasize high-standard and quality investments in resilient infrastructure that will promote job creation, protection against corruption, ensure respect for workers’ organizations and collective bargaining as permitted by national law or similar mechanisms. , support inclusive economic recovery, address environmental degradation risks, promote strong cybersecurity, promote skills transfer, and protect America’s economic prosperity and national security. PGII will also promote value-based infrastructure development that is transparent and sustainable — financially, environmentally and socially — to produce better outcomes for host countries and communities.
There is bipartisan support for international infrastructure development. Congress passed the Better Utilation of Investments Leading to Development Act of 2018 (BUILD Act) (Division F Public Act 115-254, 132 Stat. 3485) with bipartisan support to mobilize private sector dollars to support economic development in low-income countries and medium. middle-income countries, which could include support for projects to build infrastructure, create first-time access to electricity, start businesses, and create jobs. The BUILD Act instituted United States commitments to private sector-funded development by establishing the United States International Development Finance Corporation (DFC), authorizing higher exposure limits for DFCs than the previous exposure limits for Foreign Private Investment Companies, and providing new tools for engage entrepreneurs and investors to help low- and middle-income countries access private resources to generate economic growth. These investments help ensure that our partners are stronger, create opportunities for people around the world, and reduce the need for future United States foreign aid.
In the same spirit, in 2018 Congress passed the AGOA and MCA Modernization Act (Public Law 115-167, 132 Stat. 1276), which authorizes the Millennium Challenge Corporation (MCC) to make concurrent regional agreements under certain conditions, which may include investment in local infrastructure. This new authority builds on MCC’s record of delivering complex infrastructure projects that result in the provision of vital services to communities and sustainable inclusive economic growth. In addition, recognizing the need for access to high-quality, fair, and transparent financing for United States exporters and foreign buyers, Congress also reauthorized the Export-Import Bank of the United States (EXIM) for 7 years in 2019. Exim’s authorization law It also takes steps to advance America’s leadership in transformational exports, which could include support for goods and services needed for open, secure, reliable, and interoperable information and communications technology.
The United States and its partners have a long history of providing high-quality financing and technical support for infrastructure projects around the world. However, the lack of a comprehensive approach to coordinating infrastructure investments with like-minded partners often leads to inefficiencies and missed opportunities for coordinated investments to yield at scale. Greater flexibility, speed, and resources, combined with expanded internal coordination within the United States Government, will provide opportunities for the United States Government and United States companies to better meet the infrastructure needs of low- and middle-income countries around the world. world. At the same time, better coordination with the G7 and other like-minded partners will increase efficiencies and encourage new financing to advance a shared vision of value-driven, high-quality and sustainable infrastructure around the world.
Four main priorities related to infrastructure will be critical to strong development in the coming decades: climate and energy security, digital connectivity, health and health security, and gender equality and equity. Economic prosperity and competitiveness will be largely driven by how well countries leverage their digital and technological sectors and the transition to clean energy to provide their people with environmentally sustainable and widely shared inclusive growth. Countries will not only need new and reinstalled infrastructure, secure clean energy supply chains, and secure access to essential minerals and metals to facilitate energy access and the transition to clean energy, but will also require significant investment in infrastructure to make society more resilient to various threats. , from pandemics to bad cyber actors, to the increasing effects of climate change. Furthermore, the COVID-19 pandemic has highlighted the unequal infrastructure needs of developing countries and is disproportionately affecting low- and middle-income countries and regions, particularly with regard to the health sector. In developing countries, the pandemic has also hindered the economic participation of women and underserved members of society and has reversed decades of progress towards poverty reduction, with global extreme poverty rising for the first time in more than 20 years due to COVID 19. The pandemic has highlighted the need for expansion. high-quality investment and financing to strengthen health systems to combat current pandemics and prepare for future health crises.
Hence, the United States’ policy to catalyze international infrastructure financing and development is through the PGII, which is designed to offer low- and middle-income countries a comprehensive, transparent, and value-driven financing option for infrastructure development to advance climate and energy. security, digital connectivity, health and health security, and gender equality and equity priorities. PGII will mobilize public and private resources to meet key infrastructure needs, while increasing America’s competitiveness in international infrastructure development and creating good jobs at home and abroad. In this effort, the United States is working in close partnership with the G7 and other like-minded partners toward infrastructure financing and infrastructure development that is sustainable, clean, resilient, inclusive, and transparent, and adheres to high standards.
Second. 2. Approach. To meet the enormous infrastructure needs of developing countries, a new approach to international infrastructure development that emphasizes high standard of investment is needed. To meet these challenges and take advantage of these opportunities, PGII must:
(a) partner with low- and middle-income countries to finance infrastructure across key sectors that advance four key priorities critical to sustainable inclusive growth: climate and energy security, digital connectivity, health and health security, and gender equality and equity ;
(b) promote timely project implementation through consultation and partnership with host country and local stakeholders to meet their priority needs and opportunities, balancing short-term and long-term priorities;
(c) pursue the dual goal of advancing prosperity and addressing global challenges, including the climate crisis, through the development of clean and climate-resilient infrastructure that promotes job creation, accelerates clean energy innovation, and supports inclusive economic recovery;
(d) supporting the policy and institutional reforms that are key to creating the conditions and capacities for good projects and lasting results and for attracting private finance;
(e) enhance the competitiveness of the United States by supporting businesses, including small and medium-sized enterprises in developing infrastructure and technology abroad, thereby creating jobs and economic growth at home;
(f) promote transparency, accountability and performance metrics to enable assessment of whether investments and projects are delivering results and are responsive to country needs, are financially sound, and meet high standards;
(g) mobilizing private capital from both the US private sector and the private sector in partner countries;
(h) establishing relationships with international financial institutions, including multilateral development banks (MDBs), to mobilize capital;
(i) focusing on projects that can attract complementary private sector financing and catalyze additional market activity to multiply positive impacts on the economy and society; (j) coordinating bilateral and multilateral development financing sources to maximize the ability to meet infrastructure needs and facilitate the implementation of high standards for infrastructure investment;
(k) uphold high standards for infrastructure investment and procurement, protect against bribery and other forms of corruption, better address climate and environmental degradation risks, promote skills transfer, generate good jobs, reduce risks to vulnerable populations, and promote long-term economic and social benefits for the economy and society; and
(l) aligning the G7 and other like-minded partners to coordinate our respective approaches, investment criteria, expertise and resources in infrastructure to advance a shared vision and better meet the needs of low- and middle-income countries and regions.
Second. 3. Execution. (a) A whole-of-government approach is needed to meet the challenges of international infrastructure development, with executive departments and agencies (agencies) working with like-minded partners. The Special Presidential Coordinator for the Partnership for Global Infrastructure and Investment is responsible for overseeing government-wide implementation of this effort and serves as the central node for United States coordination among the G7, as well as with other like-minded partners. , the private sector, and other external actors. While certain lines of effort and initiatives may each have a lead agency, such as on sourcing critical minerals or identifying trusted 5G and 6G vendors, whole-of-government policy should be handled through the Coordinator.
(b) Agencies should, in accordance with applicable law and available allocations, prioritize support for PGII and make strategic investments across PGII’s top priorities namely climate and energy security, digital connectivity, health and health security, and gender equality and equity.
(c) PGII will be implemented through the following main implementation efforts:
(i) The Assistant to the President for National Security Affairs (APNSA), through the inter-agency process identified in National Security Memorandum 2 dated February 4, 2021 (National Security Council System Update) (NSM-2), must submit a report to the President within 180 days from the date of this memorandum. The report will include recommendations on actions by the United States Government to increase the competitiveness of the United States in international infrastructure development, and to improve coordination of international infrastructure development across relevant agencies.
(ii) The Secretary of State, Secretary of the Treasury, Secretary of the Interior, Secretary of Commerce, Secretary of Labor, Secretary of Health and Human Services, Secretary of Transportation, Secretary of Energy, Administrator of the United States Agency for International Development (USAID), and other relevant agency heads should prioritize programs that are consistent with the policies and approaches described in sections 1 and 2 of this memorandum to support the timely delivery of international infrastructure development, particularly across the PGII region. four main priorities, which are appropriate and in accordance with their respective authorities. The Chief Executive Officer (CEO) of MCC, CEO of DFC, President of EXIM, Director of the Trade and Development Agency (TDA), and heads of other relevant independent agencies are encouraged to follow the same efforts, as appropriate and in accordance with their respective powers.
(iii) The Secretary of State will direct the Head of Mission to use all appropriate tools and to develop coordination mechanisms –– including through the Embassy Agreement Team –– to address the strategic infrastructure needs of the host country in the four main priority areas of the PGII.
(iv) ’s. priority infrastructure for PGII and refer promising opportunities to relevant institutions for consideration, based on the strength and authority of each institution.
(v) The Secretary of State, through the Special Presidential Coordinator and in consultation with the heads of other relevant agencies, will coordinate diplomatic engagements to expand the PGII beyond the G7 to provide greater resources and partnership opportunities.
(vi) The Secretary of State, through the Special Coordinator of the President and in consultation with the Secretary of Finance, Secretary of Commerce, Secretary of Labor, Secretary of Health and Human Services, Secretary of Transportation, Environmental Protection Agency Administrator, USAID Administrator, CEO of MCC, and CEO of DFC, will lead interagency efforts related to international coordination of infrastructure development standards and metrics, including labor and environment, and certification mechanisms, including through the Blue Dot Network .
(vii) The Secretary of Commerce, in consultation with the Small Business Administration Administrator, EXIM President, TDA Director, and Special Presidential Coordinator, will develop and implement strategies to enhance United States competitiveness and promote the use of United States equipment and services in international infrastructure development.
(viii) The Secretary of the Treasury, in consultation with the Secretary of State, CEO of MCC, CEO of DFC, and Special Presidential Coordinator, will develop and implement strategies to catalyze private sector investment and support low- and middle-income countries in PGII’s four key priority areas.
(ix) will, in consultation with the Secretary of State, Ministry of Trade, Ministry of Health and Human Services, USAID Administrator, and Special Presidential Coordinator, develop a plan to engage MDBs to encourage high quality infrastructure investment and increased private capital mobilization for countries low- and middle-income earners, and will coordinate with like-minded partners in the implementation of the plan. The CEO of DFC, in consultation with the Secretary of State, Secretary of Finance, USAID Administrator, and Special Coordinator of the President, is encouraged to develop plans to increase engagement with national and international development finance institutions to enhance capital mobilization.
(x) The Ministry of Transport, in consultation with the heads of other relevant agencies, will develop and implement strategies to promote high quality, sustainable and resilient transport infrastructure in low and middle income countries, including through the rollout of comprehensive tools for national partners, subnational, and multilateral emphasizing best practice in planning, finance, project implementation, safety and maintenance.
(xi) APNSA, through the inter-agency process identified in NSM-2 and in coordination with the Director of the Office of Management and Budget, should identify potential legislative and administrative actions that could enhance United States development capabilities and economic assistance, financial development, and export credit tools. to meet international infrastructure development needs.
(xii) APNSA, through the inter-agency process identified in NSM-2, will lead a biennial review to monitor progress, metrics, and results from PGII’s investments and projects; identify strategic opportunities in PGII’s four main priorities; and ensuring that the implementation of the PGII is consistent with, and supports, the broader United States national security and economic goals and values, including by supporting US companies in international infrastructure development.
Second. 4. Definition. For the purposes of this memorandum, “agency” means any United States authority that is an “institution” under 44 U.S.C. 3502(1), other than those deemed to be independent regulatory bodies, as defined in 44 U.S.C. 3502(5). “Body” also means any component of the Executive Office of the President.
Second. 5. General Provisions. (a) Nothing in this memorandum shall be construed to impair or influence:
(i) the powers conferred by law on a department or executive body, or its leadership; or
(ii) the functions of the Director of the Office of Management and Budget relating to budgetary, administrative or legislative proposals.
(b) This Memorandum shall be enforced in accordance with applicable law and subject to allocation availability.
(c) This Memorandum is not intended to, and does not, create any right or benefit, substantive or procedural, that is legally enforceable or equivalent by any party against the United States, its departments, agencies or entities, their officers, employees, or agent, or other person.
(d) The Minister of Foreign Affairs is authorized and directed to publish this memorandum in the Federal Register.
JOSEPH R. BIDEN JR.
Global Information Infrastructure (GII) can be defined as a seamless interactive communication network deployed on a worldwide level to provide infrastructure for new services and activities based on the strategic use of all types of information.
What does Global Infrastructure Partners do?
Global Infrastructure Partners (GIP) is a leading global independent infrastructure fund manager. We target businesses and infrastructure assets in the energy, transportation, digital, water and waste sectors where we believe our expertise and relationships provide a competitive advantage.
What is global infrastructure? April 15, 2015. Read also : World Refugee Day 2022 – US State Department. The Global Infrastructure Facility (GIF) is a global open platform that facilitates the preparation and structuring of complex infrastructure public-private partnerships (PPPs) to enable capital mobilization of institutional and private sector investors.
Who owns global infrastructure?
GIP was founded in 2006 as a joint venture between Credit Suisse and General Electric. It is owned and managed by affiliates of both companies. What is a D&B ESG Rating?
Is Global infrastructure Partners private equity?
In 2015, GIP Credit was established to make non-equity investments, with the ability to transact at several entry points in the capital structure. Read also : ‘Very scary’: Email reveals US alarm about China-Solomons pact. GIP credits target energy, transportation, digital, water/waste and industrial or other projects with infrastructure-like characteristics.
What are the global infrastructure components of AWS?
The components are:
- Availability Zones (AZ) Read also : Avery Dennison’s new site launches a new high-tech, production system.
- Area.
- Edge Location.
- Regional Edge Cache.
Which AWS global infrastructure components does Amazon CloudFront use? 6) B – To deliver content to users with lower latency, Amazon CloudFront uses a global network of points of presence (regional edge cache and edge locations) around the world.
What are the global services in AWS?
AWS offers a broad range of global cloud-based products including compute, storage, databases, analytics, networking, machine learning and AI, mobile, developer tools, IoT, security, enterprise applications, and more.
What does global infrastructure include?
| Type | Partnership |
|---|---|
| Website | www.global-infra.com |
When was GIP founded?
Global Equity Fund Our infrastructure equity fund has been the cornerstone of GIP’s business since its inception in 2006, and currently represents ~$59 billion of the Company’s assets under management.
What is global infrastructure? The Global Infrastructure Facility (GIF), a G20 initiative, is a global collaboration platform that integrates efforts to increase private investment in sustainable and quality infrastructure projects in developing countries and emerging markets.
What is infrastructure private equity?
Private Equity Infrastructure – This term refers to investing in the equity of infrastructure assets to gain ownership and control. There are dedicated infra PE companies, but many retirees, major banks, SWFs and other entities also make “equity investments in infrastructure.”
