Finally, supply-side constraints to additional private financing include strict pension investment rules and regulatory restrictions such as Basel III and Solvency II, which require more capital allocation for infrastructure (Woetzel et al., In line with this diagnosis, multilateral development banks are stepping in, by establishing joint investment platforms in which they provide technical expertise, capacity-building and financing instruments to increase the supply of “bankable” projects (G20, 2011, UNCTAD, 2018). In many parts of the world, infrastructure investment has declined since the global crisis (Woetzel et al.,