The IMF’s Public Investment Management Assessment (PIMA)

Public Investment Management Assessment (PIMA) is a comprehensive framework to assess infrastructure governance practices for countries at all levels of economic development. PIMA evaluates 15 institutions involved in the three key stages of the public investment cycle: the planning of sustainable investment across the public sector, the allocation of investment to the right sectors and projects, and the implementation of investment projects to deliver productive and durable public assets.

Institutions are assessed on both institutional strength (the organization, policies, rules, and procedures on paper) and effectiveness (the degree to which the intended purpose is being achieved in practice or there is a clear useful impact).

PIMA also covers a qualitative assessment of three cross-cutting factors that often impact the overall effectiveness of public investment management: the legal and regulatory framework, staff capacity, and IT systems.

Additional information here.

Other standards

Blue Dot Network (BDN)

In 2019, the United States, Australia, and Japan established the Blue Dot Network (BDN) to tackle the global $3.5 trillion investment gap. The BDN will establish a globally-recognized seal of quality for major infrastructure projects.

G20 Principles for Quality Infrastructure Investment

A set of voluntary, non-binding principles designed to reflect the G20’s common aspiration for quality infrastructure investment.

G7 Charlevoix Commitment on Innovative Financing for Development

In 2018, the G7 (Group of Seven) adopted the Charlevoix Commitment on Innovative Financing for Development to respond to tremendous need for development financing to facilitate resource mobilization for sustainable development.

OECD Compendium of Good Practices for Quality Infrastructure Investment

OECD Policy Framework for Investment

The OECD Policy Framework for Investment (PFI) looks at 12 different policy areas affecting investments.

The Equator Principles

The Equator Principles (EP) are intended to serve as a common baseline and risk management framework for financial institutions to identify, assess, and manage environmental and social risks when financing large-scale infrastructure and industrial projects.