G20 mulls converting its global infra hub into a multilateral body

Currently, the GIH's work is limited to acting as a knowledge sharing hub, to produce data and insights that inform policy and infrastructure delivery

The G-20 is considering converting its Global Infrastructure Hub into a multi-lateral institution on the lines of the Financial Stability Board. If the plan goes through, it will be the second instance of a G-20 initiative being turned into a full-fledged organisation after the FSB.

“This is a decision that will require consensus among G-20 members. But the plan is to turn GIH into a body similar to FSB,” a G-20 official aware of the deliberations told Business Standard. The new infra-focused body will be a non-treaty based organisation.

Unlike most multilateral financial institutions such as the International Monetary Fund