Financing and Risk Mitigation
Article
基础建设项目主要融资机制
政府资助政府可以选择资助项目中部分或者全部投资活动，并且可以通过私营方引进专家、提升效率。这就是设计一建造一运营项目中的通常做法，在此类项目中，运营商一次性收取施工至完工阶段的全部款项，之后收取项目运营以及维护的运营费用。或者在其它情况中，政府选择按照传统采购的方式将土木工程分包出去，然后再引进社会运营商提供运营、维护等服务。即使政府希望私营方能够完成融资，…
Article
国际金融机构提供的担保和风险保险产品
国际金融机构（IFI）提供的风险缓解产品是担保（如风险担保和信用担保）和风险保险（如政治风险保险）。担保和风险保险产品可以弥补政府方在政府和社会资本合作（PPP）项目中未能履行特定义务所造成的损失。IFI风险缓解产品可以缓解私人投资者所承担的重大的政府履约风险，是提高PPP基础建设工程银行可融资性的有用工具。返回风险缓解机制以了解有关该主题的一般信息。…
Article
Managing PPP risks with a new guide on guarantees
Authored by: Victoria Rigby Delmon with Jenny ChaoThis article has also been cross-published on the World Bank PPP Blog. Click here to view.Just two years ago, Ghana was experiencing unstable…
Article
PPP融资
政府考虑PPP模式的主要动机之一正是因为其能够为公共基础建设和服务需求带来新的融资资源。本章将就项目融资进行简要介绍。更多内容请见延伸阅读和资源部分。项目融资很多时候遵循市场趋势的灵活变化，其中一些趋势的变化在本章中将暂不讨论。基础建设项目的主要融资机制发展中国家基础建设项目中的投资者融资渠道 [英文]项目融资-重要概念处理项目融资交易时的重要事项 [英文]…
Article
Guarantee and Risk Insurance Products Provided by International Financial Institutions
Visit the section on Risk Mitigation Mechanisms for general information on the topic.Links to Guarantee and Risk Insurance ProductsWorld Bank GroupWorld Bank Group Guarantees MatrixWorld Bank…
Article
Government Guarantees
Valuing LiabilitiesGovernments need to assess the type of support provided to a project. Direct liabilities can be easily assessed and budgeted as and when the relevant liabilities fall due. For…
Article
Risk Mitigation Mechanisms
Hedging and Futures ContractsSome financial risks can be shared through financial instruments known as derivatives, futures contracts or hedging. For example, exposure to foreign exchange risk can be…
Article
Risk Allocation
Risk Allocation in Public Private PartnershipsA number of key risks must be identified, allocated, and managed to ensure successful financing and implementation of a PPP project. These risks will…
Article
Key Issues in Developing Project Financed Transactions
Certainty of Revenue StreamAs noted above, the project is unlikely to generate revenue until the operations period and so it is going to be key to lenders and other investors that the revenue stream…
Article
Project Finance – Key Concepts
Typical Project Finance StructureThe typical project financing structure (simplified for these purposes) for a build, operate and transfer (BOT) project is shown below. The key elements of the…
Article
Intercreditor Arrangements
Equity ContributionsProject sponsors are the investors in the project company that are likely to be providing expertise and some of the services to the project company (such as construction or…
Article
Financial Intermediaries
The section looks at the typical main investors into infrastructure projects.Commercial banks (local/ international)Commercial banks are important investors in infrastructure projects, particularly…
Article
Government Objectives: Benefits and Risks of PPPs
Potential Benefits of Public Private PartnershipsThe financial crisis of 2008 onwards brought about renewed interest in PPP in both developed and developing countries. Facing constraints on public…
Article
Tariff Setting and Funding Constraints
The operator and any other investors or lenders will want to ensure the stability of income from the PPP project and, where relevant, the expected return on capital and new investment.If the income…