INITIATIVE IIRSA

Under the umbrella of IIRSA, South America has, for the first time, acted as a single, integrated unit, the most significant results being the creation of IIRSA Project Portfolio in the transport, energy and communications sectors.

The original structuring of IIRSA Project Portfolio took place in 2004 and was subject to successive updates as a result of improved territorial planning within the framework of the Initiative. In 2004, IIRSA defined a portfolio made up of 335 infrastructure projects accounting for an estimated investment of more than US$37,424.8 million.

In 2010, as the first work stage of IIRSA was coming to an end, one last update process was undertaken within the framework of IIRSA through meetings of the GTEs on every Hub. The resulting portfolio included 524 projects, accounting for an investment estimated at US$96,119.2 million (IIRSA Project Portfolio, 2010).

COSIPLAN PROJECT PORTFOLIO

In June 2011, the city of Bogotá hosted a series of GTE meetings on the nine Hubs at which the Portfolio update process was conducted for the first time under the COSIPLAN. The countries updated the information on their projects in the Database, and identified the projects to be included or excluded as well as those that they deemed worth discussing.

In addition, based on the updated Portfolio, the countries identified their priority projects on a preliminary basis through a domestic dialogue and consensus process in order to create an Integration Priority Project Agenda (API). For this purpose, national and subnational development plans, sectoral policies and strategies, bilateral agreements and/or investment priorities were taken into account.

This update exercise resulted in a portfolio made up of 531 projects with an investment estimated at US$116,120.6 million.

EVOLUTION OF THE PROJECT PORTFOLIO