The Swiss State Secretariat for Economic Affairs (SECO) confirms funding for SOURCE integrations in 4 countries, as well as to support re platforming and developing new functionalities. This significant support will not only guarantee the development and improvement of the platform but also pave the way for a promising future for SOURCE.
SECO will fund SOURCE integrations in 4 countries, Georgia, Kyrgyzstan, Ghana, and the 2nd phase of Uzbekistan. SECO’s support will allow SIF to work with the respective governments in identifying, mapping and digitalising each country’s infrastructure project processes and framework into SOURCE, as well as possible project assessment methodologies.
In addition, the work will focus on the task of institutionalising the use of SOURCE to enable the long-term use of the platform. Moreover, SIF will collaborate with the governments of Georgia, Uzbekistan and Kyrgyzstan to connect and integrate SOURCE with their existing digital systems and software.
SECO will also fund the development of an insurance functionality for project risk assessment in SOURCE. In alignment with the role of SOURCE as the delivery software of best practices, this functionality aims to leverage expertise of the insurance industry. Similar to how SOURCE digitalised and streamlined international standards and methodologies such as FAST-Infra, Blue Dot Network, QII (Quality Infrastructure Investment) and PIERS by UNECE, this new insurance module will enable project owners, funders and investors to understand the risks throughout the lifecycle of an infrastructure project. A dedicated project risk assessment and insurance module will be developed within SOURCE, incorporating a risk assessment methodology as part of the project preparation process, offering risk management and financing services by the insurance industry.
Furthermore, SECO will support the re-platforming of SOURCE, which will migrate the current on-premises technology to a cloud-native solution still under the United Nations servers and jurisdiction. This re-platforming will improve the platform’s performance, scalability, and user experience. It will also improve interoperability with complementary systems and facilitate a more efficient process for integrating SOURCE in countries.
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