bodyType

customContents

entityId

printArticlePageQuery

filter

article

body

urlAlias

articleSectionsContent

articleSeoArticle

articleSourceHeaderArticle

contentSchemaRenderContent

contentSubHeadlineContent

contentHeadlineContent

mainImagePrintArticleArticle

authorBlockPrintArticleArticle

contentSponsorTagContent

articlePianoPaywallContent

scmpYoutubeContent

hooksTrackPageViewArticle

query printArticlePageQuery(
  $entityId: String!
  $customContents: [CustomContentInput]
  $bodyType: BodyFormatTypeEnum
) {
  article(filter: {entityId: $entityId}) {
    entityId
    body(customContents: $customContents, type: $bodyType) {
      json
    }
    urlAlias
    ...articleSectionsContent
    ...articleSeoArticle_3o8td4
    ...articleSourceHeaderArticle
    ...contentSchemaRenderContent
    ...contentSubHeadlineContent
    ...contentHeadlineContent
    ...mainImagePrintArticleArticle
    ...authorBlockPrintArticleArticle
    ...contentSponsorTagContent
    ...articlePianoPaywallContent
    ...scmpYoutubeContent
    ...hooksTrackPageViewArticle
    id
  }
}

fragment articlePianoPaywallContent on Content {
  __isContent: __typename
  ...hooksPaywallPromiseContent
}

fragment articleSectionsContent on Content {
  __isContent: __typename
  sections {
    value {
      ...helpersCheckIfNewsSectionInFirstIndexSection
      ...entityLink
      name
      id
    }
  }
}

fragment articleSeoArticle_3o8td4 on Article {
  ...hooksArticleSeoArticle
  ...helpersCheckIsPostiesArticle
  ...helpersGetArticleTypeArticle
  entityId
  publishedDate
  updatedDate
  summary {
    text
  }
  subHeadline {
    text
  }
  body(customContents: $customContents, type: $bodyType) {
    text
  }
  keywords
  sections {
    value {
      name
      id
    }
  }
  topics {
    name
    entityId
    id
  }
  urlAlias
  authors {
    name
    id
  }
  images {
    style(filter: {style: "768x768"}) {
      url
    }
  }
  readingTime
}

fragment articleSourceHeaderArticle on Article {
  urlAlias
  ...entityLink
}

fragment authorBlockPrintArticleArticle on Article {
  ...defaultArticleDateContent
  ...authorNamesArticle
}

fragment authorNameAuthor on Author {
  ...entityLink
  name
  entityUuid
}

fragment authorNamesArticle on Article {
  authorLocations
  authors {
    entityId
    location
    ...authorNameAuthor
    id
  }
}

fragment blockquoteQuoteContent on Content {
  __isContent: __typename
  ...contentShareWidgetContent
}

fragment checkersCheckContentContainsStarlingImageContent on Content {
  __isContent: __typename
  topics {
    entityId
    id
  }
}

fragment contentHeadlineContent on Content {
  __isContent: __typename
  headline
  socialHeadline
  ...contentHeadlineTagContent
  ...helpersUseContentSponsorContent
}

fragment contentHeadlineTagContent on Content {
  __isContent: __typename
  ...hooksContentHeadlineTagContent
}

fragment contentNewsletterWidgetContent on Content {
  __isContent: __typename
  topics {
    relatedNewsletters {
      ...helpersMassageToNewsletterItemNewsletter
      id
    }
    id
  }
  sections {
    value {
      relatedNewsletters {
        ...helpersMassageToNewsletterItemNewsletter
        id
      }
      id
    }
  }
  ... on Article {
    relatedNewsletters {
      ...helpersMassageToNewsletterItemNewsletter
      id
    }
  }
}

fragment contentSchemaRenderContent on Content {
  __isContent: __typename
  ...blockquoteQuoteContent
  ...hooksInlinePlusWidgetContent
  ...imageContent
  ...inlineWidgetContent
  ...photoGalleryWidgetContent
  ...scmpYoutubeContent
}

fragment contentShareWidgetContent on Content {
  __isContent: __typename
  entityId
  urlAlias
  shortUrl
  socialHeadline
  headline
}

fragment contentSponsorTagContent on Content {
  __isContent: __typename
  ...helpersUseContentSponsorContent
}

fragment contentSubHeadlineContent on Content {
  __isContent: __typename
  subHeadline {
    json
  }
  summary {
    json
  }
  ...contentSchemaRenderContent
}

fragment defaultArticleDateContent on Content {
  __isContent: __typename
  ...hooksArticleDateUtilsContent
}

fragment entityLink on BaseWithApplicationAndUrlAlias {
  __isBaseWithApplicationAndUrlAlias: __typename
  __typename
  entityId
  entityUuid
  urlAlias
  urlRedirect {
    toUrl
    id
  }
  application {
    entityId
    id
  }
  ... on Section {
    fullSectionPath {
      entityId
      id
    }
    parentSection
  }
  ...helpersAppBarVariantBase
  ...helpersApplicationBase
  ...helpersCheckIsPlusArticle
  ...helpersStyleSectionContent
}

fragment helpersAppBarVariantBase on BaseWithApplicationAndUrlAlias {
  __isBaseWithApplicationAndUrlAlias: __typename
  ...helpersCheckIsLiveArticle
  ...helpersCheckIsPlusPage
  ...helpersCheckIsPostiesArticle
  ...helpersCheckIsPostiesPage
  ...helpersCheckIsPostMagazineArticle
  ...helpersCheckIsStyleArticle
  ...helpersSectionContent
  ...helpersStyleSectionContent
}

fragment helpersApplicationBase on BaseWithApplicationAndUrlAlias {
  __isBaseWithApplicationAndUrlAlias: __typename
  ...helpersCheckIsPostiesArticle
  ...helpersCheckIsPostiesPage
  ...helpersCheckIsPlusPage
}

fragment helpersCheckIfNewsSectionInFirstIndexSection on Section {
  name
}

fragment helpersCheckIsAmpEnabledArticle on Article {
  entityId
  types {
    value {
      entityId
      id
    }
  }
  sections {
    value {
      entityId
      id
    }
  }
  disableOffPlatformContent
  sponsorType
  published
  ...helpersCheckIsPlusArticle
  ...helpersCheckIsPostiesArticle
}

fragment helpersCheckIsLiveArticle on Article {
  flattenTypeIds
  liveArticle {
    status
    id
  }
}

fragment helpersCheckIsMainTopicContent on Content {
  __isContent: __typename
  topics {
    entityId
    id
  }
}

fragment helpersCheckIsPlusArticle on Content {
  __isContent: __typename
  ... on Article {
    paywallTypes {
      entityUuid
      id
    }
  }
}

fragment helpersCheckIsPlusPage on Page {
  urlAlias
}

fragment helpersCheckIsPostMagazineArticle on Article {
  sections {
    value {
      entityId
      id
    }
  }
}

fragment helpersCheckIsPostiesArticle on Article {
  sections {
    value {
      entityId
      id
    }
  }
}

fragment helpersCheckIsPostiesPage on Page {
  urlAlias
}

fragment helpersCheckIsStyleArticle on Content {
  __isContent: __typename
  sections {
    value {
      entityId
      id
    }
  }
}

fragment helpersGetArticleTypeArticle on Content {
  __isContent: __typename
  ... on Article {
    types {
      value {
        entityId
        id
      }
    }
  }
}

fragment helpersMassageToNewsletterItemNewsletter on Newsletter {
  entityId
  name
  alternativeName
  description {
    text
  }
  summary {
    text
  }
  homepageDescription {
    text
  }
}

fragment helpersSanitizeArticleTypeEntityIdsArticle on Article {
  types {
    value {
      entityId
      id
    }
  }
}

fragment helpersSanitizeAuthorTypesArticle on Article {
  authors {
    types
    id
  }
}

fragment helpersSanitizedAuthorEntityIdsArticle on Article {
  authors {
    entityId
    id
  }
}

fragment helpersSectionContent on Section {
  fullSectionPath {
    entityId
    id
  }
}

fragment helpersStyleSectionContent on Section {
  fullSectionPath {
    entityId
    id
  }
}

fragment helpersUseContentSponsorContent on Content {
  __isContent: __typename
  topics {
    entityId
    sponsor {
      ...sponsorTagSponsor
      name
      type
      id
    }
    id
  }
  ... on Article {
    sponsorType
  }
  ...helpersCheckIsMainTopicContent
}

fragment hooksArticleDateUtilsContent on Content {
  __isContent: __typename
  createdDate
  publishedDate
  updatedDate
}

fragment hooksArticleSeoArticle on Article {
  ...helpersCheckIsPostiesArticle
  ...helpersCheckIsPostMagazineArticle
  ...helpersCheckIsStyleArticle
  ...hooksContentHeadlineTagContent
  ...helpersCheckIsAmpEnabledArticle
  entityId
  headline
  socialHeadline
  types {
    value {
      entityId
      id
    }
  }
  authors {
    entityId
    id
  }
  images {
    generic_og: style(filter: {style: "og_image_scmp_generic"}) {
      url
    }
    styles(filter: {styles: ["og_image_posties_article", "og_postmag", "og_image_style", "og_image_scmp_analysis", "og_image_scmp_explainer", "og_image_scmp_editorial", "og_image_scmp_fact_check", "og_image_scmp_debate", "og_image_scmp_live", "og_image_scmp_obituary", "og_image_scmp_opinion", "og_image_scmp_review", "og_image_scmp_series", "og_image_scmp_generic"]}) {
      url
      style
    }
    type
  }
  urlAlias
}

fragment hooksContentHeadlineTagContent on Content {
  __isContent: __typename
  __typename
  ... on Article {
    types {
      value {
        name
        entityId
        description {
          text
        }
        id
      }
    }
    ...helpersCheckIsStyleArticle
  }
  flag
  sections {
    value {
      name
      id
    }
  }
  ...hooksContentHelperContent
}

fragment hooksContentHelperContent on Content {
  __isContent: __typename
  ...helpersSanitizeArticleTypeEntityIdsArticle
  ...helpersSanitizeAuthorTypesArticle
  ...helpersSanitizedAuthorEntityIdsArticle
  flag
}

fragment hooksInlinePlusWidgetContent on Content {
  __isContent: __typename
  topics {
    entityId
    id
  }
}

fragment hooksPaywallPromiseContent on Content {
  __isContent: __typename
  entityId
  ...helpersCheckIsPostiesArticle
}

fragment hooksTrackPageViewArticle on Article {
  entityId
  publishedDate
  headline
  sections {
    value {
      name
      id
    }
  }
  urlAlias
  authors {
    name
    id
  }
  entityUuid
}

fragment imageContent on Content {
  __isContent: __typename
  headline
  ...checkersCheckContentContainsStarlingImageContent
}

fragment inlineWidgetContent on Content {
  __isContent: __typename
  ...contentNewsletterWidgetContent
}

fragment mainImagePrintArticleArticle on Article {
  images {
    title
    url
    isSlideshow
    size_652x446: style(filter: {style: "652x446"}) {
      url
    }
  }
}

fragment photoGalleryDialogContent on Content {
  __isContent: __typename
  __typename
  ...contentShareWidgetContent
}

fragment photoGalleryWidgetContent on Content {
  __isContent: __typename
  ...photoGalleryDialogContent
}

fragment scmpYoutubeContent on Content {
  __isContent: __typename
  entityId
  urlAlias
  publishedDate
}

fragment sponsorTagSponsor on Sponsor {
  name
  type
  images {
    url
  }
}


sections

types

disableOffPlatformContent

sponsorType

published

headline

socialHeadline

authors

images

publishedDate

updatedDate

summary

subHeadline

keywords

topics

readingTime

authorLocations

entityUuid

Riccardo Puliti

The global crises we are facing have brought us to a pivotal moment in development that demands our immediate, urgent attention.
Climate change, Covid-19 and war in Europe have created a perfect storm that threatens economic development. Moreover, the knock-on effects on the global economy – in the form of mounting fiscal pressures, public debt, interest rates, inflation and country risk for investors – have created an environment that makes development finance especially challenging.
Meanwhile, millions of people worldwide, especially in developing countries, live without the benefits of infrastructure and vital services, which limit their economic opportunities and quality of life. These facts are not up for debate.
We are only eight years from 2030, but a clear path to achieving the 17 sustainable development goals remains elusive. Infrastructure cannot be separated from climate action – it is the biggest contributor to emissions but also a sector that offers some of the greatest opportunities for decarbonisation. There is no quick fix. Instead, the global community needs a coherent, long-term strategy to develop more infrastructure of better quality.
What can be done? Above all else, develop consensus among governments, the private sector and the global community on four key actions: make every dollar count, establish a supportive, enabling environment backed up by political commitments, create investment opportunities, and embrace the imperative of joint action.
These actions are critical and mutually reinforcing. They represent the building blocks for increasing private investment in infrastructure and laying the foundations for post-crises recovery.


There is more to infrastructure than building one asset after another. To make sure every dollar counts, we must first agree on what infrastructure must deliver to meet development goals. At the World Bank, we have high expectations: infrastructure must offer sustainability, quality and long-term solutions that benefit everyone.
Infrastructure must be climate-resilient while minimising greenhouse gas emissions. Infrastructure governance should be open, transparent and robust. Perhaps most importantly, it should be efficient: every dollar invested in infrastructure counts at every stage of the project life cycle.
Second, we must strengthen the enabling environment and secure political commitments. Essential policy reforms must be enacted before any commercial bank, institutional investor or other entity gets involved with financing.
Many countries need support to put these elements in place, because they require time, political will and technical expertise that may be lacking at home. Without these, the ability of countries to systematically scale up private participation in infrastructure will remain limited.
Moreover, their ability to undertake high-quality public investment will also be prejudiced. The World Bank and other development institutions must continue working with governments to support policy and sector reforms, build institutional capacity and improve the investment climate.


Third, we need to focus on creating pipelines of bankable, resilient, high-quality infrastructure projects that attract investors. The capital needed to make a difference is largely available; the real challenge is mobilising it.
Even in the best of times, the high cost of infrastructure exceeds what governments can reasonably afford – they must take action to optimise limited public spending envelopes and create conditions to leverage additional private investment. Since 2000, the private sector has, on average, supported some US$80 billion worth of infrastructure projects each year.
This may appear sizeable, but only amounts to 10-15 per cent of infrastructure investment in low and middle-income countries. At the same time, public investment in infrastructure in low and middle-income countries has itself been declining to no more than 1.2 per cent of gross domestic product in 2020.
Multilateral development banks can lead battle against economic turbulence
Meeting international development goals requires a step change in both public and private financing. According to World Bank research, around 4.5 per cent of the GDP of low and middle-income countries on average will be necessary to meet the global demand for infrastructure into 2030. This comes to about US$1.5 trillion – nearly the GDP of Mexico – every year until 2030. It is a crevasse of epic proportions.
Finally, there is a need for collective action to bolster infrastructure investment in developing countries. There is global momentum: The G20, G7, multilateral development banks, developing country governments and private sector have made this a priority and are working to make this a reality.


Indonesia is one country where a sustained programme of interventions to support the scale-up of private capital mobilisation is leading to change. The World Bank has been working with Indonesia on a comprehensive set of advisory, structuring and financial solutions to unlock considerable pools of private capital for sustainable and quality infrastructure development.
Examples of this support include upstream policy support for key state-owned enterprises, analytical advice for implementing private investment and energy transition reforms, public-private partnership framework development, preparation of fit-for-purpose financing instruments and bankable projects, and pilots for private capital mobilisation. One highlight of this programme is a US$465 million geothermal project, which brought together six separate partners to execute.
None of this progress comes easily or quickly. It begins with countries charting their own paths and establishing their own priorities. It is they that must signal the need to make changes and own the desire to do so. Only then can we at the World Bank, together with our global partners, deploy resources to support countries in securing access to new and additional sources of finance.
Success is within reach, but there are no short cuts. We can achieve a great deal, but only with hard work and global collaboration.
Riccardo Puliti is the World Bank vice-president for infrastructure


How developing nations can get the infrastructure they need

Thousands of Muslims return home on an overcrowded train, after attending the final prayer of Bishwa Ijtema, the world’s second-largest Muslim gathering after the Haj, in Tongi, outskirts of Dhaka, Bangladesh, on January 12, 2020. Photo: Reuters

Opinion

Comment

Economy

Global Economy

News

World


There is no shortcut to efficient, climate-resilient infrastructure projects that attract investors, and pathways include country reforms and global cooperation
But countries must first chart their own paths and signal for change; only then can the World Bank step in to help secure financing



There is no shortcut to efficient, climate-resilient infrastructure projects that attract investors. Countries must first chart their paths and signal for change; only then can the World Bank help secure financing.


Climate change

Infrastructure in Asia

World Bank Group

Infrastructure

Investing

Business of climate change

Climate change diplomacy

Environment

Banking & finance

Indonesia

Expresses the views, ideas and conclusions of the author. (Eg. Enough of Crazy Rich Asians, think of crazy poor Hongkongers.)


Opinion | How developing nations can get the infrastructure they need

There is no shortcut to efficient, climate-resilient infrastructure projects that attract investors, and pathways include country reforms and global cooperation But countries must first chart their own paths and signal for change; only then can the World Bank step in to help secure financing

There is no shortcut to efficient, climate-resilient infrastructure projects that attract investors, and pathways include country reforms and global cooperation

But countries must first chart their own paths and signal for change; only then can the World Bank step in to help secure financing