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The COVID-19 pandemic challenges our society’s resilience. The sheer magnitude of the crisis was, in most cases, beyond our society’s capacity to cope. Along with tragic losses of human life, the economic and social impacts of the pandemic could last for an extended period, decades in some countries. Since the onset of the pandemic, we have witnessed various policy and societal responses to the crisis and seen multiple dimensions of the resilience of people and societies. It is crucial to deepen the discussions about how we can restructure our social and economic systems to build resilience against future shocks and protect people, including the furthest behind. An important dimension of this conversation is how to mobilize investment in infrastructure, which is among the most effective device to support the transformations we need. The scope of infrastructure investment needs to be drastically increased as part of the global recovery.

The salient fact is that many developing countries lack hard infrastructure in transport, water and sanitation, energy, ICT, roads and urban systems, which need urgent attention in the global recovery strategy. Investment in soft, social infrastructure must also be increased for resilience building. The vast majority of developing countries do not have the public resources to finance infrastructure investments, nor the capacity to borrow at the low interest rates available to the advanced economies. They will have to find ways to mobilize expanded external financing, including private finance. The international community's resolve for achieving the SDGs requires new efforts and a review of mechanisms to mobilize resources for supporting investment in infrastructure, including social infrastructure, in developing countries.

Proposed guiding questions:

• How can we restructure our social and economic systems to build resilience against future shock?
• What areas of infrastructure investment should be prioritised in the context of the global recovery drive?
• What are the crucial policy measures for mobilizing resources for sustainable infrastructure?
• In what areas are international cooperation and coordination needed the most to build resilience through infrastructure investment and to match resources and needs?
• What kind of reforms, systems and transformations are needed to mobilize resources for sustainable infrastructure investment in developing countries?

Chair:

• H.E. Mr. Munir Akram, President of Economic and Social Council

Interactive panel discussion

Moderator:

• Mr. Atif Kubursi, Professor emeritus, McMaster University, Canada

Panellists/Resource Persons:

• Ms. Isabelle Durant, Acting Secretary-General of UNCTAD
• Ms. Vera Songwe, Executive Secretary of ECA
• Mr. Erik Berglof, Chief Economist of Asian Infrastructure investment Bank (AIIB)
• Mr. Gavin Power, Executive Vice President and Chief of sustainable development and international affairs, PIMCO

Lead discussants:

• Ms. Mami Mizutori, Special Representative of the Secretary-General for Disaster Risk Reduction and Head of the United Nations Office for Disaster Risk Reduction (Ä¢¹½´«Ã½)
• Mr. Francesco La Camera, Director General of IRENA
• Mr. Yannick Glemarec, Executive Director of the Green Climate Fund
• Ms. Ruramiso Mashumba, Director and Founder of Mnandi Africa, Zimbabwe (Business & Industry Major Group)

Respondents:

• H.E. Mr. Eamon Ryan, Minister for Transport and Minister for the Environment, Climate and Communications of Ireland
• Mr. Andre Zhu, Senior Vice President of Global Affairs and General Counsel, Pinduoduo, China

Time:

15:00 - 17:00 (New York Time)