GIF is the new global
service launched by the World Bank on 9 October 2014 which aims at mobilising
the private sector to help tackle the massive infrastructure deficit facing
It was launched by
World Bank President Jim Yong Kim at Washington D.C.
This facility basically
aims to ensure that billions of dollars are channelised to develop world-class
infrastructure in emerging markets like India and developing economies.
GIF, the World Bank plans to work with regional banks and financial entities
like Asian Development Bank (ADB), the New Development Bank (NDB) of BRICS countries
and the proposed Asian Infrastructure Investment Bank (AIIB).