Baku: The world is confronted with a significant $49 trillion gap in infrastructure investment financing, as highlighted by Eyp Vural Aydin, Chairman of the Istanbul Public-Private Partnership Center of Excellence (Istanbul PPPCOE). This revelation was made during the 'Cross-Border Infrastructure Public-Private Partnerships (PPP) for Regional Connectivity' panel discussion at the Islamic Development Bank (IsDB) Group Annual Meetings in Baku, reports APA.

According to Azeri-Press News Agency, Aydin pointed out that global trade has seen a substantial increase over the past 25 years, more than tripling from $10 trillion at the start of the millennium to approximately $30 trillion today. However, this growth in trade has not been paralleled by infrastructure investments, which remain insufficient.

Aydin emphasized the strategic significance of cross-border infrastructure projects for ensuring security in energy, water, data, and food sectors. He cited the recent crisis in the Strait of Hormuz as a stark reminder of the importance of global integration and the need for alternative supply routes, noting that disruptions in supply chains directly affect countries' energy security.

He further highlighted the necessity of fostering an environment of trust to bridge the existing financing gap in infrastructure. Aydin advocated for strengthening trust among nations and establishing long-term cooperation mechanisms as crucial steps toward this goal.

Looking ahead, Aydin predicted the emergence of a broader partnership model. He envisaged a future where not only public-private partnerships but also public-private-people partnerships will be vital. He stressed the importance of collaboration among governments, businesses, and society to achieve sustainable development.