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

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

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 de...

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Bibliographic Details
Main Authors:	Shendy, Riham, Kaplan, Zachary, Mousley, Peter
Format:	Publication
Language:	English
Published:	World Bank 2012
Subjects:	ACCOUNTING ALTERNATIVE ASSET ALTERNATIVE INVESTMENTS ASSET CLASS ASSET CLASSES ASSET MANAGEMENT ASSET-LIABILITY MISMATCH BALANCE SHEET BALANCE SHEETS BANK CREDIT BANK LENDING BANK LOANS BANKING SECTOR BOND BOND HOLDERS BOND ISSUANCE BOND ISSUANCES BOND MARKETS BOND RATING BONDS BORROWER BOURSE CAPACITY BUILDING CAPITAL INVESTMENT CAPITAL MARKET CAPITAL MARKET DEVELOPMENT CAPITAL MARKETS CAPITAL MOVEMENTS CAPITAL REQUIREMENTS CASH FLOWS CENTRAL BANK CENTRAL BANKS COMMERCIAL BANKS COMPETITIVE BIDDING CORPORATE BOND CORPORATE BOND MARKET CORPORATE BONDS COUNTRY RISK COUPON COUPON RATE CREDIT AGENCY CREDIT ENHANCEMENT CREDIT GUARANTEE CREDIT LINES CREDIT RATING CREDIT RATING AGENCY CREDIT RATINGS CREDIT RISK CREDITOR CURRENCY DEBT FINANCING DEPOSIT DEPOSIT MONEY BANKS DEVELOPING COUNTRIES DEVELOPMENT BANK DIRECT INVESTMENT DIRECT INVESTMENTS DUE DILIGENCE ECONOMIC DEVELOPMENT ENABLING ENVIRONMENT EQUITY FUNDS EQUITY MARKETS EXPENDITURES FINANCIAL CRISIS FINANCIAL RISKS FINANCING REQUIREMENTS FIXED INCOME FIXED INTEREST FIXED INTEREST RATE FOREIGN BANKS FOREIGN CURRENCY FOREIGN EXCHANGE FOREIGN EXCHANGE RISK FOREIGN FINANCING FUND MANAGERS GOVERNMENT BOND GOVERNMENT BOND MARKET GOVERNMENT BONDS GOVERNMENT BUDGET GOVERNMENT GRANTS GOVERNMENT SECURITIES GOVERNMENT SUBSIDIES GOVERNMENT SUPPORT GRACE PERIODS GROUP BORROWER GUARANTEE FUND GUARANTEE PRODUCTS HOLDINGS ILLIQUIDITY IMMOVABLE PROPERTY INFLATION INFRASTRUCTURE BOND INFRASTRUCTURE BONDS INFRASTRUCTURE CONCESSION INFRASTRUCTURE DEVELOPMENT INFRASTRUCTURE FINANCE INFRASTRUCTURE FINANCING INFRASTRUCTURE INVESTMENT INFRASTRUCTURE INVESTMENTS INSTITUTIONAL INVESTORS INSURANCE INSURANCE CORPORATION INSURANCE INDUSTRIES INSURANCE INDUSTRY INSURANCE MARKET INSURANCE POLICIES INTERNATIONAL BANK INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL INSTITUTIONS INTERNATIONAL FINANCIAL STATISTICS INTERNATIONAL INSURANCE INVESTING INVESTMENT ASSET INVESTMENT BANK INVESTMENT CORPORATION INVESTMENT FUND INVESTMENT GUIDELINES INVESTMENT PROCESS INVESTMENT REGULATIONS ISSUANCE ISSUANCE OF BONDS LENDING LIMIT LIABILITY LIFE INSURANCE LIFE INSURANCE COMPANIES LIFE INSURANCE POLICIES LOAN LOAN EXPOSURE LOCAL BANKS LOCAL CURRENCY LOCAL DEBT LOCAL FINANCIAL MARKETS LOCAL MARKET LOCAL MARKETS LONG TERM DEBT LONG-TERM COST LONG-TERM DEBT LONG-TERM DEBT MARKET LONG-TERM FINANCE LONG-TERM INVESTMENT LONG-TERM LOANS LONG-TERM RESOURCE LONG-TERM RESOURCES LONG-TERM YIELDS MARKET CONSTRAINTS MARKET FAILURES MARKET MAKER MATURITIES MATURITY MEZZANINE DEBT MONETARY FUND MONEY MARKET MONEY MARKET INSTRUMENTS MORAL HAZARD MORTGAGE MUNICIPAL BONDS MUTUAL FUNDS NATIONAL INVESTMENT PARTIAL CREDIT PARTIAL RISK PENSION PENSION ASSETS PENSION FUND PENSION FUND ASSET PENSION FUND INVESTMENT PENSION FUND INVESTMENTS PENSION FUNDS PENSION SYSTEMS PENSIONS POLITICAL RISK POLITICAL RISKS PORTFOLIO POTENTIAL INVESTOR PRINCIPAL REPAYMENTS PRIVATE CREDIT PRIVATE EQUITY PRIVATE FINANCE PRIVATE FINANCING PRIVATE INVESTMENT PRIVATE INVESTORS PRIVATE PARTIES PUBLIC FUNDS PUBLIC INVESTMENT RECOURSE FINANCING REGULATORY AUTHORITY REGULATORY BARRIERS REGULATORY FRAMEWORK RESERVE RESERVE BANK RETURN RETURNS RISK DIVERSIFICATION RISK MANAGEMENT RISK MEASUREMENT RISK PREMIUMS RISK PROFILE RISK SHARING SECONDARY BOND MARKETS SECURITIES SECURITY STRUCTURES SHORT-TERM DEPOSITS SOVEREIGN DEBT SOVEREIGN LENDING SOVEREIGN RATING STOCK EXCHANGE STOCK EXCHANGES STOCKS SUBORDINATED DEBT TAX TELECOMMUNICATIONS TOTAL DEBT TRANSACTION TRANSFER RISKS TRANSITION ECONOMIES TRANSPARENCY TREASURY WITHDRAWAL WITHDRAWAL OF FUNDS YIELD CURVE
Online Access:	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333038_20110725014313 http://hdl.handle.net/10986/2331

Description
Summary:	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, section seven puts forth policy recommendations intended to assist in overcoming the challenges in building private sector confidence in the Sub-Saharan Africa (SSA) infrastructure market in order to attract greater levels of financing for private sector investment in core infrastructure services through PPPs.