The Special Meeting of Governors of the Inter-American Development Bank (IDB) was held on March 24, 2018, in Mendoza, Argentina. One of the people in attendance for this important meeting was businessman Felipe Montoro Jens. He is internationally recognized as an expert on public infrastructure projects and PPPs or Public-Private Partnerships. PPPs are agreements between private companies and government to get public works projects completed. PPPs are used for a range of projects such as roads, schools, sanitation, internet, and more. Learn more on ideamensch about Montoro Jens
Felipe Montoro Jens says that some of the high-ranking officials at this meeting were Brazil’s Minister of Planning, Development and Management Argentina’s Finance Minister, Spain’s Secretary of State for Economy and Business Support, and the chairman of the Bank’s Board of Governors. There was some disagreement among these officials about the best practices for using PPPs. Some argued that private companies need financial guarantees in order to participate in these types of agreements while others didn’t think that was the right road to go down.
One thing that Felipe Montoro Jens said there was general agreement on was that the Industry 4.0 revolution is coming and Latin America needs to be prepared for it. There will need to be significant investments in public works projects in this region of the world will participate in this revolution or be left in its wake. There is competition between meeting the needs of the present such as more and better roads as well as sanitation projects competing against what will be needed down the road to take part in the fourth industrial revolution.
Top government officials in Brazil reported that they are already using the best practices in regards to PPPs reported Felipe Montoro Jens. They also said that both their actions and their guidelines meet what IDB’s regulations are. They indicated that they were getting prepared to participate in the next industrial revolution.