While the annual growth rate of real gross fixed capital formation was around 3.5% in the two decades between 1990 and 2010, in the last decade it has been only 0.7%, ECLAC said.

Total investment as a percentage of Gross Domestic Product (GDP) in Latin America and the Caribbean was 17.6%, which shows a decreasing trend and is the lowest among different groups of countries.

He also explained that in order to advance in the construction of resilient, inclusive and sustainable infrastructure, it is urgent to increase investment and financing; strengthen the production of information for decision-making; promote innovation to improve water management and investments in renewable energies; improve the resilience of infrastructure; and promote green infrastructure.

There is also a need to strengthen the State and institutions related to planning; promote public-private partnerships to finance projects in line with the Sustainable Development Goals (SDGs); promote governance models, depending on the sector, with public and private participation/cooperation; and plan for the long term (foresight).

Translated by: A.M