​The world is hungry for infrastructure investment. In 2014, the IMF declared 'the time is right for an infrastructure push'. Yet the development community has been here before. There have been earlier periods of infrastructure enthusiasm, with the white elephants to show for it, but precious little growth.

How can governments avoid the mistakes of the past? What institutions and processes are needed to invest in infrastructure, and to invest well? The 2015 CAPE conference paper discusses what it takes to invest in infrastructure, and to invest well.