G-20 global infrastructure hub set to be based in Sydney

Sydney

A GLOBAL infrastructure hub proposed by G-20 nations to help strengthen economic growth will be based in Sydney and funded by Australia, a report said on Monday.

The Group of 20 of the world's biggest developed and emerging economies agreed in September that a Global Infrastructure Initiative to share information about matching investors with projects will be established, but details were sketchy.

Prime Minister Tony Abbott told The Australian newspaper that the agency would not involve a new "international bureaucracy" but instead would act as a clearin…