The Global Infrastructure Facility is a/an | UPSC Prelims 2017 PYQ with Answer

ASEAN initiative to upgrade infrastructure in Asia and financed by credit from the Asian Development Bank.
World Bank collaboration that facilitates the preparation and structuring of complex infrastructure Public-Private Partnerships (PPPs) to enable mobilization of private sector and institutional investor capital.
Collaboration among the major banks of the world working with the OECD and infrastructure projects that have the potential to mobilize private investment.
UNCTAD funded initiative that seeks to finance and facilitate infrastructure development in the World.

Answer

World Bank collaboration that facilitates the preparation and structuring of complex infrastructure Public-Private Partnerships (PPPs) to enable mobilization of private sector and institutional investor capital.

(a) Incorrect. The Global Infrastructure Facility (GIF) is not an ASEAN initiative and is not an ADB credit mechanism; it is housed at the World Bank Group.
(b) Correct. GIF is a World Bank-led global partnership that helps governments prepare and structure complex infrastructure PPPs to attract private and institutional investment.
(c) Incorrect. It is not a collaboration among major banks of the world with the OECD in the manner stated; the description does not match GIF’s institutional setup.
(d) Incorrect. GIF is not a UNCTAD-funded initiative and does not directly finance global infrastructure in the way stated.

Therefore, the correct answer is (b).