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Timor-Leste

PPIAF’s recipe for enabling PPP finance: Good infrastructure governance

Jemima Sy's picture


It takes a lot to do a first Public-Private Partnership (PPP) well. In the past 12 months, we witnessed the successful financial close of two landmark PPPs: the Tibar Bay Port PPP—a first for Timor-Leste, one of the youngest countries in the world—and the Kigali Bulk Water project in Rwanda, considered the first water build-operate-transfer project in Sub-Saharan Africa.

To make these projects happen, deal teams, sponsors, and financiers did outstanding work in difficult environments. The Public-Private Infrastructure Advisory Facility (PPIAF) also earned some bragging rights and a share of the battle scars along with these actors.

Creating markets in Timor-Leste through a landmark port PPP

Christopher Bleakley's picture



As recently as 2006, Timor-Leste was in crisis. Only a few years into independence, the country was torn by riots and political turmoil. Not surprisingly, its business climate was one of the region’s worst.

But Timor-Leste’s fortunes have changed dramatically. Income from oil, coupled with greater stability and a long-term economic plan, led the World Bank to describe the country’s social and economic development as remarkable. Nonetheless, Timor-Leste remains a fragile state, and with oil accounting for 80 percent of GDP, it is the world’s second most oil-dependent nation.