Infrastructure changes lives. Reliable and safe infrastructure in the form of roads, schools and hospitals is vital to not only prosperity but basic survival. From the G20 to the SDGs, the global community is focusing on increasing investment in infrastructure.
The value of global construction output is expected to increase by $8 trillion to reach $17.5 trillion per annum by 2030. However, international institutions estimate that 10% to 30% of investment in infrastructure is lost through corruption. As the leading international infrastructure transparency initiative, our experience at CoST suggests that a similar amount could also be wasted through mismanagement and inefficiency. We therefore do not just need investment in infrastructure, we need better value from infrastructure investment and CoST can help!
CoST is a game-changer in the sector; a practical tools-based solution delivering cross border collective action against corruption in infrastructure. With a panel of expert representatives drawn from government, industry and civil society, we will work together to explore innovative approaches to tackling corruption in infrastructure and share positive experiences on how CoST is changing lives in Latin America.
The session will also officially congratulate and welcome Panama as the most recent country to become a member of CoST and discuss how they can take action on the ground to change the rules of the game in infrastructure. For a taster of our work in the region, check out this short video highlighting how CoST Guatemala saved US$5 million on an infrastructure project! For updates and live Tweeting from the session, make sure to follow @CoSTransparency!