Coordination crucial for infrastructure investment to work

London

MAKING infrastructure spending work more effectively as a tool for regeneration and growth is an important global task. To achieve this aim, world governments need to demonstrate more joined-up thinking and action.

Imaginative steps must be taken, especially from governments providing development aid, to allow taxpayers' money to stretch further into boosting beneficial investment in ventures ranging from ports and railroads to energy and education. Imagination and discipline are needed. One measure could be to form an international coalition of public authorities occupying different positions on the infrastructure value chain.

Infrastructure is the word of our times. Donald Trump's election campaign emphasised the US investment gap in this field - although the president has done little so far to try to plug it. The issue extends around the world. Rarely has one technocratic…