Singapore’s DBS Group will partner the World Bank in an infrastructure creating initiative. Some of the world’s largest banks and asset management firms are part of this initiative, which is expected to offer funds for infrastructure in the developing world. DBS said in a statement that it joined the World Bank’s Global Infrastructure Facility (GIF) as an advisory partner, and will provide input on project preparation, optimal approaches to financial structuring and the design and use of risk instruments. The GIF’s stated objective is to catalyse and mobilise private sector investment in infrastructure projects. The facility was officially launched in Washington, as part of the IMF/World Bank 2014 meetings. DBS CEO Piyush Gupta represented the bank at a signing ceremony held at the World Bank headquarters.
