G20 recognises Sydney as infrastructure hot-spot
A decision by the world’s leading nations to establish a Global Infrastructure Hub in Sydney is a vote of confidence in Australia’s global city, NSW Premier Mike Baird said today.
“Anyone who glances around the Sydney skyline, littered with moving cranes, already knows we are in the midst of an infrastructure boom,” Mr Baird said.
“The Global Hub, which is expected to unlock an additional $2 trillion in global infrastructure capacity to 2030, will further cement the city’s reputation as the world’s infrastructure capital.”
G20 leaders agreed on Sunday to establish the Hub in Sydney, in order to increase global investment in infrastructure.
The Hub will coordinate the infrastructure plans and activities of governments, the private sector, banks and other organisations.
It will be funded by the Australian Government and other G20 members, with additional support from non-member countries and other organisations.
“By situating the Global Infrastructure Hub in Sydney, the G20 has recognised how much expertise is already located here as we push ahead with gigantic projects such as Barangaroo, the North West Rail Link and WestConnex,” Mr Baird said.
“If we receive a mandate next March for Rebuilding NSW, there will be a further injection of $20 billion into our program, delivering visionary, congestion-busting projects such as Sydney Rapid Transit."