In order to better support marine operators and other stakeholders, the World Bank and the International Association of Ports and Harbors (IAPH) have developed a collaborative action plan. The organizations detailed future infrastructure concerns and revealed their next measures to address them in a study recently released under the title “Closing the Gaps.” IAPH and the World Bank accepted the “irrefutable fact” that many ports were unprepared for the significant changes in demand experienced since the commencement of the Covid-19 outbreak because of long-term underinvestment. Delaying investments to solve the three challenges of decarbonization, digitalization, and disruption has contributed to the supply chain crisis, creating a “Great Entanglement” of interconnected and interdependent issues among logistics players.
The World Bank will update its Port Reform Toolkit among other initiatives to promote increased infrastructure investment
The research suggests that “port authorities have the ability to stimulate data sharing and the possible convergence of port stakeholders’ interests to minimize inefficiencies and increase supply chain fluidity” as one area of investment needed to address supply chain concerns. A first follow-up product from the report, according to IAPH Managing Director Patrick Verhoeven, is a manual based on the experiences of ports that have effectively incorporated innovation into their business models. A new set of safety-related port bunkering and terminal tools for zero-carbon fuels as well as a guide for ports wanting to build a structured approach to resilience are additional outputs that are anticipated in the upcoming months.
The World Bank will update its Port Reform Toolkit among other initiatives to promote increased infrastructure investment. The toolkit seeks to offer practitioners and politicians efficient decision support in order to carry out long-lasting and thoughtful reforms of public institutions that deliver and oversee port services in developing nations. The new toolkit will also include contributions from IAPH. Following the launch of an online resource by UNCTAD in September 2022 with the goal of enhancing resilience throughout the maritime supply chain, the report and collaborative action plan were produced.