Nordic ministers discussed infrastructure financing
Infrastructure financing is undergoing a fundamental change, where relying on public budgetary resources alone is not a sustainable option. It is important to find new financial instruments and practices to enable efficient infrastructure development on a long-term basis.
Such new instruments were explored in the seminar "Rethinking Infrastructure Financing in the Nordics".
The participants included the Finnish Minister of Transport and Communications Anne Berner, Norwegian Minister of Transport and Communications Ketil Solvik-Olsen, Icelandic Minister of Transport and Local Government and Nordic Cooperation Sigurdur Ingi Jóhannsson, and Director-General Ola Nordlander from the Swedish Ministry of Enterprise and Innovation.
"A well-functioning and up-to-date infrastructure is a prerequisite for competitiveness. Any delays or failures in the projects may cause substantial economic and social costs. It is most natural for us to work together to find the best practices," says Minister of Transport and Communications of Finland Anne Berner.
"Infrastructures in the Nordic countries have a lot in common. Being able to share our ideas and solutions is important to maximize the possibilities and utility from future projects. Getting the most out of the funds we invest in infrastructure is the key to building a transport system that fits future needs," says Ketil Solvik-Olsen, Minister of Transport and Communications of Norway.
"It is very important not only to discuss the investment itself but also how to finance operation and maintenance. I am looking forward to learn about the views and experiences of the other Nordic Countries. Communications and transport are merging and the future is interesting," says Sigurdur Ingi Jóhannsson, Minister of Transport and Local Government and Nordic Cooperation, Iceland.
Discussion about the financial instruments continues among the Nordic countries. There are significant benefits to be gained in infrastructure financing especially from transboundary investments and coordinated transport policies.
Director, Senior Adviser, Sabina Lindström, tel. +358 40 527 6103