It has been just over a year since the COVID-19 pandemic hit American shores in every way possible. Just like other industries, US infrastructure also has been damaged as covered by previous articles in this blog. It goes without saying that there would be deficits in revenue, major projects’ progress being halted or cancelled completely as well as struggles in approving budgets for new projects.
So what are some possible solutions for this? “DFIs can, for example, assist governments in diagnosing risks early to mitigate the virus’ impacts on project portfolios through expert support, training, and tools. Projects in pipeline should be re-reviewed often in this changing environment and projects under construction or in operation should be reexamined for any contractual remedies available to mitigate the effect of potential delay and funding needs. Where governments lack the expertise and resources to take this on, DFIs can step in to help” (Worldbank).
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