London’s role in project management to dominat “for decades to come”
London will remain the centre of infrastructure finance and project management "for decades to come", a new report by the City of London Corporation claims.
Launched today by Lord Mayor Charles Bowman at a Commonwealth Business Forum discussion on Infrastructure Investment at the Mansion House, the report claims that far from Brexit dampening the capital's growth in this field, London is poised to play a bigger role.
This is because of wider geo-political issues, such as rapidly growing populations, and because governments around the world are facing significant budgetary constraints, which means they will increasingly look to the private sector for financing solutions.
The report highlights the annual investment gap of more than $1 trillion globally, and the number of institutional investors in infrastructure, which has increased by more than 116 per cent in the last five years.
London is currently responsible for 25 per cent of the EMEA infrastructure loan market from more than 36 per cent of European assets under management based here in the UK – worth more than £8.1 trillion.
Bowman said: “This research really highlights why infrastructure finance is one of the Citys key strengths.
“The financing of projects around the world through London is the logical step for many companies because of our unprecedented cluster of professional services – underpinned by our rigorous focus on the rule of law – that makes the City a one-stop-shop for global businesses.
“It is reports like this that make me hugely confident for the Citys future even after we exit the European Union – we will continue to serve as the worlds centre for infrastructure finance for decades to come."