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New Needs for Technical Assistance : Responding to the Effects of the Financial Crisis on Private Participation in Infrastructure

Leigland, James; Russell, Henry
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Português
Relevância na Pesquisa
56.54%
In developing countries the global financial crisis is leading to serious difficulties for infrastructure projects with private participation. In some cases governments are responding by simplifying their project approval processes or by substituting public for private financing. Even if markets recover quickly, these responses could pose significant risks. Containing those risks and dealing with the effects of the financial crisis calls for specialized technical assistance in assessing contingent liabilities, maintaining existing assets, assisting projects in distress, and maintaining a project pipeline.

Strategy and Business Plan for the Pakistan Infrastructure Project Financing Facility : Infrastructure Financing Market Update

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Português
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46.75%
The report presented a detailed assessment of the infrastructure Public Private Partnership (PPP) financing market in Pakistan, including key financing gaps as existent in 2007. This note builds on the report by presenting an update of the state of the Pakistan infrastructure financing market as on date, and in particular, by analyzing the implications of the global financial crisis and the changes in the macroeconomic environment in Pakistan. This note is structured as follows: section two provides background information on the Pakistan economy; section three summarizes the key effects of international financial shocks and domestic political issues on the Pakistan economy; section four summarizes the progress on the infrastructure enabling environment; section five provides a summary update of the demand for infrastructure finance; section six presents recent developments in the supply of infrastructure finance; and section seven sets out the key conclusions.

Financing for Development Post-2015

World Bank Group
Fonte: Washington, DC Publicador: Washington, DC
Português
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46.75%
This paper is a contribution to United Nation (UN)-led efforts to articulate a post-2015 development framework, building on the Millennium Declaration and Millennium Development Goals (MDGs). It focuses on the challenge of financing development goals and complements the extensive work conducted by the United Nations1 and other institutions, including the World Bank Group. The paper is structured as follows. Section one outlines elements of what it will take to achieve development outcomes, the importance of a global development cooperation framework, the role of targeted, evidence-based policies and sound institutions; and the mobilization of resources for global public goods. Section two focuses on how best to support developing countries in mobilizing domestic resources for development, by boosting taxation capacity, harnessing natural resource revenue, improving expenditure efficiency, and curbing illicit financial flows. Section three examines issues of aid effectiveness and considers ways for development actors to provide better and smarter aid. Section four discusses trends in private financial flows to developing countries and the growing mismatch between available financing and investment needs. It then turns to strategies for mobilizing financing for long-term infrastructure. Finally...

Launching Public Private Partnerships for Highways in Transition Economies

Queiroz, Cesar
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Português
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56.73%
In many countries the private sector has been involved in financing infrastructure through concessions under a public-private partnership (PPP) program. PPP schemes, however, are somewhat underutilized in transition economies, where the potential financing gaps are significant and growing, and there seems to be an enormous potential for more private sector involvement in the financing and operation of highway assets in these countries. Institutions such as the World Bank can contribute to enhance private financing of road infrastructure through greater use of their guarantee power, in addition to supporting, when required, the public sector contribution to the construction cost of a PPP project through loans. Partial risk guarantees are particularly relevant in the context of seeking more private involvement in the financing of road infrastructure. This paper reviews potential applications of partial risk guarantees, the required legal framework (for example, concession law) for attracting private capital for PPP schemes...

Financing Mechanisms for Addressing Remediation of Site Contamination

World Bank Group
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Português
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46.74%
Industrial and commercial facilities provide great economic benefit to communities throughout the world. Unfortunately, many industries use or have used practices and materials which have proven toxic to the environment and to those who live and work near contaminated sites. The definition and degree of contamination varies at national and regional levels of government, but leaders throughout the world now recognize the hazard that contaminated industrial and service sites present to the wellbeing of their communities and seek innovative ways to finance the remediation of these challenging sites. Industrial contamination can have a severe, direct impact on adjacent communities. The cleanup and redevelopment of a so-called brownfield can improve a community s economy, provide an opportunity for habitat restoration, and create public space. Cleanup and redevelopment of brownfields can be an effective economic development strategy, with benefits seen in two timeframes. First, there is an immediate and one-time capital expenditure for cleanup activities...

The Long and Winding Path to Private Financing and Regulation of Toll Roads

Estache, Antonio; Romero, Manuel; Strong, John
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Português
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56.73%
Road transport has long been the dominant form of transport for freight and passenger movement throughout the world. Because most road projects require investments with long amortization periods and because many projects do not generate enough demand to become self-financing through some type of user fee or toll, the road sector remains in the hands of the public sector to a much greater extent than other transport activities. But governments throughout the world, including those of many poor African and South Asian countries, are commercializing their operations to cut costs, improve user orientation, and increase sector-specific revenue. There seems to be demand for toll roads in specific settings, but the problems met by many of this "first generation" of road concessions-from Mexico to Thailand-have given toll projects a bad reputation. Many mistakes were made, and tolling is obviously not the best solution for every road. Most of the alternatives aim at improving efficiency (lowering costs). But there are many ways of getting the private sector involved in toll roads, thus reducing public sector financing requirements for the sector. Understanding the context in which toll roads are viable is essential both for their initial success and for effective long-run regulation. The authors provide a broad overview of issues at stake from the viewpoint of both privatization teams and regulators responsible for supervising contractual commitments of private operators and the government...

Private Sector Involvement in Road Financing

Brocklebank, Peter
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Português
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46.71%
Achieving private sector involvement in financing, provision and management of roads requires specialized legal and institutional frameworks, public sector expertise, advisor support and sustained political commitment. In many African States, there is little experience of private sector involvement in the road sector but there is encouragement to promote such involvement from development partners. Increased private sector involvement in public sector procurement has been for many years an important aspect of the infrastructure investment policy of development partners, such as the World Bank and the African Development Bank. Public Private Partnerships (PPPs) are one of a number of initiatives being pursued within Africa, in relation to road sector reforms. In particular, the road sector reforms under the Road Management Initiative (RMI), launched in 1988 by the SSATP and the World Bank, in collaboration with other development partners have sought to improve road service delivery by reforming public sector institutions and legislation through clearly defined responsibility...

Investment Financing in the Wake of the Crisis

Chelsky, Jeff; Morel, Claire; Kabir, Mabruk
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Brief
Português
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46.72%
Sustained growth in emerging markets and developing economies requires long-term, reliable capital to finance productive investment, including in basic infrastructure. However, the availability and composition of long-term financing is constrained, partly due to fragile market conditions and cyclical weaknesses in parts of the global economy, as well as longer-term trends. This has had a particularly negative impact on developing economies that do not have reliable access to international bond markets and on sectors that have traditionally relied on bank lending (such as infrastructure). At the same time, fiscal space has been eroded by the crisis, and the direct lending capacity of Multilateral Development Banks (MDBs) remains constrained. This heightens the importance of the catalytic role of the official sector in mobilizing long-term financing from the private sector by drawing on its ability to reduce and share risk. This note explores some of the ways in which MDBs are equipped to serve this purpose.

The U.K. Treasury Infrastructure Finance Unit; Supporting PPP Financing During the Global Liquidity Crisis

Farquharson, Ed; Encinas, Javier
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Brief; Publications & Research :: Brief; Publications & Research
Português
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46.7%
2008 and 2009 were challenging years to raise finance for public-private partnerships (PPP) and private finance initiative (PFI) schemes in the United Kingdom (UK). After some analysis, it was decided to focus on addressing the underlying problem of liquidity and to provide a solution that will encourage banks to resume their long-term financing of projects. In March 2009, the treasury created the infrastructure finance unit (TIFU) with the objective of lending to PFI projects on the same terms as commercial lenders in the event that insufficient private sector lending was available. This was successful in helping to inject confidence back into the market, as witnessed by the fact that projects have continued to be financed since the onset of the credit crisis. Recently, Her Majesty (HM) treasury announced that it will bring together of TIFU, the program and project delivery team of partnerships UK, and the treasury PPP policy unit into a single entity, infrastructure UK (IUK), which will focus on the next stage of U.K. infrastructure development.

Attracting Investors to African Public-Private Partnerships : A Project Preparation Guide; Promotion des partenariats public-prive africains aupres des investisseurs : guide de preparation de projets

Infrastructure Consortium for Africa; Public-Private Infrastructure Advisory Facility
Fonte: World Bank Publicador: World Bank
Tipo: Publications & Research :: Publication; Publications & Research :: Publication
Português
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56.63%
What transforms a Public-Private Partnership (PPP) project from a desirable project on a government 'wish list' to an attractive investment opportunity in the eyes of a potential private sector partner? This guide seeks to enhance the chances of developing effective partnerships between the public and the private sectors by addressing one of the main obstacles to the effective delivery of PPP projects: having the right information on the right project for the right partners at the right time. This guide starts with a review of the meaning of the term PPP, which can be difficult to define (chapter two). This is followed by a look at the foundation blocks for engaging with the private sector (chapter three), an assessment of the issues relevant to project selection (chapter four), and a review of the actions involved in preparing projects for market, including how the process should be managed (chapter five). The particular issue of managing advisers is examined in chapter six, while chapter seven looks at how the public sector should interact with the private sector during the project selection and preparation phases...

Local Sources of Financing for Infrastructure in Africa : A Cross-Country Analysis

Irving, Jacqueline; Manroth, Astrid
Fonte: Banco Mundial Publicador: Banco Mundial
Tipo: Publications & Research :: Policy Research Working Paper
Português
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46.68%
With the exception of South Africa, local financial markets in sub-Saharan Africa remain underdeveloped and small, with a particular dearth of financing with maturity terms commensurate with the medium- to long-term horizons of infrastructure projects. But as financial market reforms gather momentum, there is growing awareness of the need to tap local and regional sources. Drawing on a comprehensive new database constructed for the purpose of this research, the paper assesses the actual and potential role of local financial systems for 24 African countries in financing infrastructure. The paper concludes that further development and more appropriate regulation of local institutional investors would help them realize their potential as financing sources, for which they are better suited than local banks because their liabilities would better match the longer terms of infrastructure projects. There are clear signs of positive change: private pension providers are emerging in Africa, there is a shift from defined benefit toward defined contribution plans...

Private Solutions for Infrastructure in Honduras : A Country Framework Report

Public–Private Infrastructure Advisory Facility
Fonte: Washington, DC: World Bank Publicador: Washington, DC: World Bank
Tipo: Publications & Research :: Publication; Publications & Research :: Publication
Português
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66.62%
This document is designed to promote the development of infrastructure services in Honduras, with the aim of improving the country's competitiveness and contributing to poverty reduction. Its central argument is that Honduras needs a significant increase in private investment in infrastructure services, which should take place in a more competitive environment, and be subject to an adequate legal and regulatory framework. The study details the progress to date in Honduran infrastructure sectors, identifying the principal problems that exist and outlining a strategy for their solution. It proposes a general set of principles that should guide the provision of infrastructure services. In addition, it recommends specific policies for each sector. The document's scope includes the following services: transportation, water and sanitation, electricity, and telecommunications. Part 1 presents an overview of general themes related to the development of infrastructure services and to private participation in all the sub-sectors. Part 2 presents an analysis of the current situation of the four infrastructure services covered in this study. One of the major recommendations is the need to establish participative and transparent planning...

Fostering the Development of Greenfield Mining-related Transport Infrastructure through Project Financing

International Finance Corporation; Public-Private Infrastructure Advisory Facility
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Publication; Publications & Research :: Working Paper
Português
Relevância na Pesquisa
46.76%
The purpose of this study is to serve as a guide on developing Greenfield transport infrastructure (rail and port) primarily used to support mining operations ('mining-related infrastructure'), through Public-Private Partnership (PPP) schemes and on a project finance basis. The focus is on key financing issues and considerations, as well as recommendations for governments and private-sector participants, specifically in the context of sub-Saharan Africa and similar regions. Over the past decade, the rapid economic growth in newly industrialized markets has fueled a strong demand for various commodities (such as iron, coal, bauxite and copper), with significant impact on their prices. The last ten years have seen an unprecedented rise in the price of mineral commodities worldwide. From the mid-2000s through the early 2010s, the world's largest mining companies embarked in the planning of numerous and often very large mining projects to satisfy what was seen as an ever growing double digit demand for minerals (iron ore...

Toward Better Infrastructure : Conditions, Constraints, and Opportunities in Financing Public-Private Partnerships in Select African Countries

Shendy, Riham; Kaplan, Zachary; Mousley, Peter
Fonte: World Bank Publicador: World Bank
Tipo: Publications & Research :: Publication; Publications & Research :: Publication
Português
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46.73%
Examining innovative ways to address Africa's infrastructure deficit is at the heart of this analysis. Africa's infrastructure stock and quality is among the least developed in the world, a challenge that significantly hinders economic development. The study is structured around the most inhibiting constraints to developing PPPs, as shared by all six countries. Section one provides a brief background of the infrastructure needs in the sample countries and outlines the current scope of Public-Private Partnership (PPP) transactions; section two examines the sources of financing for PPPs domestic and foreign with a particular focus on domestic sources; section three explores the supporting legislative, regulatory, and institutional environment for PPPs; section four addresses issues connected with the importance of developing a sound pipeline of PPP projects; and section five tackles the importance of managing the increased government fiscal commitments that are commonly coupled with PPPs. Section six outlines medium-term options for PPP financing. Finally...

Local Financing of Water Utilities : Challenges and Opportunities - The Case of Peru

World Bank
Fonte: World Bank Publicador: World Bank
Tipo: Economic & Sector Work :: Energy Study
Português
Relevância na Pesquisa
56.64%
This report identifies opportunities and challenges for local financing of water utilities in Peru and suggests recommendations for removing barriers and creating incentives for scaling-up local financing to local water utilities. It was developed with an understanding that meeting the Millennium Development Goals (MDGs) in water and sanitation in Peru will require scaling up local financing for the sector and that efficiency and effectiveness can be enhanced by greater involvement of local institutional investors and other parties. This joint study exposes many of the barriers to local private financing facing the urban water supply and sewerage (WS&S) sector in Peru. In short, the majority of local water utilities cannot meet credit rating and governance standards required to access private financing. Consequently, loans from financial markets are rare. These findings are probably not specific to Peru. Accordingly, there is great value for central governments to undertake similarly detailed studies to identify the obstacles preventing access to local financing unique to their country's WS&S sector.

Beyond Aid : New Sources and Innovative Mechanisms for Financing Development in Sub-Saharan Africa

Ratha, Dilip; Mohapatra, Sanket; Plaza, Sonia
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
Português
Relevância na Pesquisa
46.7%
Given Sub-Saharan Africa's enormous resource needs for growth, poverty reduction, and other Millennium Development Goals, the development community has little choice but to continue to explore new sources of financing, innovative private-to-private sector solutions, and public-private partnerships to mobilize additional international financing. The paper suggests several new instruments for improving access to capital. An analysis of country creditworthiness suggests that many countries in the region may be more creditworthy than previously believed. Establishing sovereign rating benchmarks and credit enhancement through guarantee instruments provided by multilateral aid agencies would facilitate market access. Creative financial structuring, such as the International Financing Facility for Immunization, would help front-load aid commitments, although these may not result in additional financing in the long run. Preliminary estimates suggest that Sub-Saharan African countries can potentially raise USD 1-3 billion by reducing the cost of international migrant remittances...

Health Care in Sri Lanka : What Can the Private Health Sector Offer?

Govindaraj, Ramesh; Navaratne, Kumari; Cavagnero, Eleonora; Seshadri, Shreelata Rao
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Working Paper; Publications & Research
Português
Relevância na Pesquisa
46.71%
This review represents an attempt to bridge the significant knowledge gaps on the private health sector in Sri Lanka, and foster a dialogue on opportunities for collaboration between the government and the private sector. It accomplishes this through a systematic collection and analysis of primary and secondary data on the provision, financing, and regulation of health care services. On health service delivery, the review finds that the private sector: includes a range of providers; focuses primarily on curative and outpatient services rather than preventive services; is heavily dependent on the public sector for its supply of human resources; and is concentrated in urban areas. The quality of health care services in Sri Lanka in both the private and public sectors, while better than in most developing countries, still lags behind those in more advanced countries. There is also little systematic dialogue and collaboration between the public and private sectors. On financing, the review finds that private health expenditure is more than half of total health expenditure...

Private Sector Participation in Light Rail-Light Metro Transit Initiatives

Mandri-Perrott, Cledan; Menzies, Iain
Fonte: World Bank Publicador: World Bank
Tipo: Publications & Research :: Publication; Publications & Research :: Publication
Português
Relevância na Pesquisa
56.66%
This book aims to help governments and public authorities to establish effective light rail-light metro transit (LRMT) systems, and focuses on use of Public-Private Participation (PPP) arrangements. Rather than identify a single approach, authors present options and discuss practical issues related to preparing and implementing new LRMT PPP schemes. The approach is focused on providing information that can be used to make informed decisions, adapted to local policy and objectives. The material presented is intended as a practical guide to developing LRMT PPPs in both developed and developing countries. This work endeavors to provide answers to readers' questions regarding how to successfully incorporate private sector participation in LRMT with a lesser emphasis on why LRMT and the private sector may be beneficial. The primary focus of this text is guiding the reader from design through to project implementation. It starts from the premise that underlying transport policy decisions will have already been made and that LRMT has already been identified as the appropriate transport solution. The authors have included some limited discussion of policy and technical issues where these directly impact the LRMT PPP approach. The approach is presented in nine sections...

Green Infrastructure Finance : A Public-Private Partnership Approach to Climate Finance

Baietti, Aldo
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Working Paper
Português
Relevância na Pesquisa
46.68%
In June 2012, the Green Infrastructure Finance Framework Report was published to address the constraints in financing green infrastructure and to develop a new approach to accelerate investments in low-emission technologies. The approach includes a financing and advisory interface, which clarifies the principles and concepts of the shared financing roles recommended by the methodology. The Framework attempts to bring clean investments towards a more familiar financing environment and to distance them from the charged political debate that has adversely affected the progress in international climate change discussions for over a decade. The detrimental effect of climate change is growing, yet clean investments are still grossly insufficient making it necessary to rethink the approach to greening the global energy mix. The need for some level of concessional financing or outright subsidy support is widely understood but the approach must be equitable, non-political and deliver a sufficient level of support. The concept of anchoring regulation in a country's existing public-private partnership (PPP) framework to focus on creating the right policy environment will greatly facilitate mainstream implementation and reduce costs. This aspect of the framework is widely understood by many developing country governments and can be easily replicated not only in East Asia...

Review of Risk Mitigation Instruments for Infrastructure Financing and Recent Trends and Developments

Matsukawa, Tomoko; Habeck, Odo
Fonte: Washington, DC: World Bank Publicador: Washington, DC: World Bank
Tipo: Publications & Research :: Publication; Publications & Research :: Publication
Português
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46.73%
The objective of the Review of Risk Mitigation Instruments for Infrastructure Financing and Recent Trends and Developments is to provide a concise yet comprehensive guide as well as reference information for practitioners of infrastructure financing, including private sector financiers and developing country officials. The work is also intended as a reference for institutions offering (or developing) risk mitigation instruments, allowing them to learn from each other's recent practices. The book is organized into five chapters with the following objectives: Chapter 1 Type of Risk Mitigation Instruments: increases awareness of the different types and nature of risk mitigation instruments currently available for private financiers. Chapter 2 Recent Trends in Risk Mitigation: highlights areas in risk mitigation for developing country infrastructure financing receiving recent attention. Chapter 3 Characteristics of Providers and Compatibility: summarizes the characteristics of multilateral, bilateral, and private providers of risk mitigation instruments and the compatibility of those instruments. Chapter 4 Innovative Application of Risk Mitigation Instruments: presents recent developments and innovative applications of risk mitigation instruments through case transactions. Chapter 5 Challenges Ahead: summarizes areas that pose challenges to the use of risk mitigation instruments as catalysts of infrastructure development. The focus of this book is on the multilateral development banks and agencies (that is...