Key Projects of Tuvalu
Owing to the relative small size of the islands of Tuvalu, the private sector in the country is negligible. The demand for infrastructure in the Asia–Pacific region remains strong as countries plan to be competitive and accommodate the growing population. The magnitude of investment needed is enormous and funding the multitude of projects required in emerging markets is an important challenge for governments and the financial sector. In its ‘Seamless Asia’ study, the Asian Development Bank, for example, estimated that the region’s member countries will need to invest US$8 trillion in the ten-year period to 2020.
The recognition that funding requirements of this scale cannot be raised entirely from public budgets is encouraging governments to utilise the private sector’s ability to contribute to the provision, operation and maintenance of infrastructure. However, the process of forging co-operation and developing partnerships between public and private sectors is subject to the establishment of adequate regulatory, legislative and governance measures as well as clear understanding of the roles of all entities under the partnership.
To review the ongoing process taking place in member countries and share experiences in the establishment of public–private partnerships, the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) has held a high–level Expert Group Meeting on 14 April 2010 in Jakarta, Indonesia, and two years later on 11 and 12 November 2012 in Tehran, Islamic Republic of Iran.