The state oflocal infrastructure investment in EuropeEIB Municipalities Survey 2020

Abstract

The confluence of COVID-19 and the twin climate and digital transition has put public investment back on the policy agenda, with enhanced local investment important.In the context of ultra-low interest rates and stagnating productivity, the value of public investment that enhances growth is widely recognised. Growth-enhancing public investment is central to policy makers response to the asymmetric effects of the pandemic and the new needs generated by the twin digital and green transitions and related social and distributional challenges. Commensurate with the important role that local infrastructure investment has to play in implementing this, it is on the G20 agenda.