Infrastructure services are significantdeterminants of economic development, social welfare, trade,and public health. As such, they typically feature stronglyin national development plans. While governments may receivemany infrastructure project proposals, however, resourcesare often insufficient to finance the full set of proposalsin the short term. Leading up to 2020, an estimated US$836billion - 1 trillion will be required each year to meetgrowth targets worldwide (Ruiz-Nunez and Wei, 2014; WorldBank). Global estimates of infrastructure investmentsrequired to support economic growth and human developmentlie in the range of US$65-70 trillion by 2030 (OECD, 2006),while the estimated pool of available funds is limited toapproximately US$45 trillion (B20, 2014). The past twentyyears have also seen a shift towards decentralizedinfrastructure planning. Many subnational governments,regional entities, and sector agencies have been delegatedresponsibility for infrastructure planning promote localresponsiveness, but responsibility for allocating fundsoften remains with a centralized finance agency (CFA). Whileconstituencies may propose numerous projects, governmentsoften have insufficient financial resources to implement thefull suite of proposals. This report presents the IPFmethodology and results of the pilot application to a selectset of transport and water and sanitation projects inPanama. The report first gives background information oninfrastructure prioritization in Panama, then follows with adescription of the IPF in technical and implementationterms. Next, we present the results of the pilot and closewith recommendations for implementing IPF to a wider set of projects.
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