Globeleq participates in UN conference
Steve Pearlman, Globeleq Executive Vice President for the Americas, participated in the April 24 high-level meeting of the Economic and Social Council (ECOSOC) of the United Nations in New York. As part of a discussion of how to creatively attract financing to infrastructure projects in the emerging markets, Mr. Pearlman mentioned the success that Globeleq has had in attracting local investment from pension funds. “Electricity, like most infrastructure projects, is not a multi-national business. It is a multi-local business.” He continued, “As such, we find that local participation in our generating businesses through both debt and equity financing allows the alignment of interest necessary to attract international capital.”
The regular ECOSOC meetings with the Bretton Woods institutions (the World Bank and the International Monetary Fund), the World Trade Organization and the United Nations Conference on Trade and Development focus on the implementation of and support for development strategies, including the Millennium Development Goals. A few private-sector representatives were invited to attend this year’s meetings as observers.
