Publication: Financial Protection of Critical Infrastructure Services
Date
2021-03
ISSN
Published
2021-03
Author(s)
World Bank
Abstract
This report uses the term critical
infrastructure to refer to all the aspects required to
deliver the critical services (e.g., transport, health care,
energy). Six sectors are widely classified as being
critical: energy, transport, water, information and
communications technologies, health care, and finance. Some
economies include education and critical economic and
manufacturing sectors within their definitions. The focus of
this report is on the financial protection of critical
infrastructure services. This focus complements existing,
well-documented evidence and frameworks, including evidence
collated by the World Bank30, about the operational and
physical protection and the resilience of critical
infrastructure assets, and about best practice in
incorporating resilience within PPPs in infrastructure. The
financial aspects of resilience of critical infrastructure
services are not widely discussed in the existing
literature, yet this is a critical component of overall
resilience. A 2014 publication by the Organization for
Economic Co-operation and Development (OECD) titled
Recommendations on Managing Critical Risks emphasized the
role of financial preparedness in managing critical
infrastructure risks to protect public finances and the
fiscal position of a country. The 2018 and 2019 APEC Joint
Ministerial Statements explicitly highlight the importance
of quality and resilience, of the infrastructure’s strengths
against climate and disasters, and of the role of financial
protection in this context.
Citation
“World Bank. 2021. Financial Protection of Critical Infrastructure Services. © World Bank, Washington, DC. http://openknowledge.worldbank.org/handle/10986/36902 License: CC BY 3.0 IGO.”