Infrastructure is central to every country’s pursuit of economic growth, well-being, and sustainable development. A critical aspect of robust infrastructure governance is ensuring countries have the tools and capacities to assess whether infrastructure proposals can deliver value-for-money. This is of the highest importance in the Latin American region given i) fiscal constraints, ii) persistent inequalities, and iii) high exposure to natural and climate disasters. These conditions then call to make the most of the limited resources for infrastructure investment and to ground such decisions in evidence. Indeed, thoughtful and evidence-based appraisal and selection supports long-term objectives such as economic resilience, environmental sustainability, and social equity and represent a bridge between such high-level policy priorities and investment projects. Furthermore, embedding evidence-based project selection and prioritisation in decision-making ensures accountability and breeds trust as infrastructure authorities can justify their investment decisions. This session will discuss how Latin American countries can leverage infrastructure appraisal and selection methodologies to tackle persistent gaps and maximise the benefits from public investments, while mitigating risks. Likewise, it will discuss the enablers and experiences in using such methodologies and creating capacities to deliver value-for-money.
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