Bridge in Chongqing, China. Investment in infrastructure is essential to achieve the Sustainable Development Goals Sustainable Development Goals
High-quality and reliable infrastructure, including regional and cross-border infrastructure, is needed in the areas of trade and commerce, transport, communications, energy, and to protect the population from natural disasters. The President of the General Assembly, Dennis Francis, said this when opening a discussion on the relationship between infrastructure and sustainable development as part of UN Sustainable Development Week.
He said the recent bridge collapse in Baltimore, USA, demonstrated how damage to critical infrastructure can have far-reaching economic consequences, particularly through disruptions to national – and global – supply chains.
The President of the General Assembly emphasized that in recent years the world has been facing new turmoil – not only due to wars and conflicts, but also due to extreme weather conditions and disasters. “It is therefore critical to establish a coherent framework for assessing the impacts of climate events and prioritizing adaptation to them,” he said.
Persisting gaps are exacerbating global inequality, disproportionately affecting the most vulnerable countries such as small islands and least developed states, Francis added. In landlocked developing countries, the World Bank estimates that transport costs are 50 percent higher than average, making them less competitive in global markets than landlocked countries.
The Chairman of the General Assembly, under whose auspices the Sustainable Development Week events are taking place, emphasized that improving infrastructure sustainability requires investment, calling on dialogue participants to discuss innovative financing mechanisms and cooperation with international financial institutions and the private sector.
Read also: