The cost of not investing in strategic infrastructure may not only pose challenge to ease of doing business, but also Nigeria and other economies classified as low and middle-income countries of potential savings estimated at $4.2 trillion.
The report laid out a framework for understanding the ability of infrastructure system and how it functions to meet users’ needs during and after a natural hazard, which Nigeria and other commodity dependent economies are hugely exposed to. The World Bank Group President, David Malpass, said: “Resilient infrastructure is not about roads or bridges or power plants alone. It is about the people, the households and the communities for whom this quality infrastructure is a lifeline to better health, better education and better livelihoods.
The Senior Director, Climate Change, World Bank, John Roome, added: “For infrastructure investors- whether governments, development banks or the private sector, it is clear that investing in resilient infrastructure is both sound and profitable. It is not about spending more, but about spending better.
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