World Bank Infrastructure: FIDIC CEO calls for better collaboration

FIDIC chief executive Dr Nelson Ogunshakin has called for much better collaboration between investors, developers and consulting engineering professionals throughout the project life cycle, while speaking at the World Bank Global Infrastructure Facility (GIF) advisory council meeting in Singapore this week.

Ogunshakin told a high-profile audience of government representatives, multilateral development banks, private sector investors and financiers that working together to achieve better project development definition will secure an “enabling environment that will improve preparation and investment feasibility, transaction design and implementation and post-transaction and financing stages of projects”.

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Ogunshakin also highlighted the need for wider utilisation of standardised procurement contractual process and greater standardisation on financing documentations.

FIDIC is an advisory partner the World Bank of GIF, which is a partnership among governments, multilateral development banks, private sector investors, and financiers which provides a new way to collaborate on preparing, structuring, and implementing complex project and collectiverly, the GIF Partners have in excess of $1.2 trillion of infrastructure asset under management.