Connecting infrastructure with capital

As Argentina’s G20 Central Bank Deputy, I designed the priorities of the 2018 presidency’s Finance Track in collaboration with the Ministry of Finance. The G20 brings major economies together; central banks and finance ministries participate in its Finance Track. My work focused on connecting infrastructure with institutional capital.

A useful project can still be difficult to finance. Preparation, contract terms, information and risk allocation differ across projects. Pension funds, insurers and other institutional investors need a way to assess those differences before committing money over the long periods that infrastructure requires.

In my article for the central bank, I explain proposals for common documentation, better information, a broader investor base and secondary market liquidity. These are practical conditions for connecting projects with institutional capital.

The 2018 Roadmap to Infrastructure as an Asset Class organized work on standardization, project preparation, data and risk allocation. It is a collective G20 output, and a concrete document through which to understand the agenda.

The same financing question matters in energy and technology: how can parties with different obligations make compatible commitments? Technical usefulness, by itself, does not settle who bears a risk or how an investment is funded.

That experience informs my entrepreneurial work today, especially where an industrial undertaking needs durable coordination among customers, suppliers and capital.