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December 2017

Year-in-Review: 12 top blogs of 2017

Yelena Osipova-Stocker's picture

2017 was a busy year in the world of infrastructure and public-private partnerships at the World Bank Group: from new knowledge products and tools, to innovations and success stories in places ranging from Peru and Ukraine, to Jordan, Pakistan, and Fiji. As we look at our top content that resonated most with you, our blog readers, we can categorize these posts into three broad categories:

2018: Are we ready to commit to building resilient infrastructure?

David Baxter's picture


Photo: Michiel van Nimwegen | Flickr Creative Commons

Just ahead of this year’s anniversary of the Indian Ocean tsunami of 2004, I visited the Tsunami Honganji Vihara site in Sri Lanka where upwards of 2,000 people died when their train was destroyed by the force of the waves. Shortly after my visit, Sri Lanka was faced with an unusually large tropical cyclone that pummeled the capital of Colombo, and caused extensive flooding, power failures and infrastructure damage. And, a few thousand miles away, Bali’s highest volcano, Mount Agung, was threatening to erupt, causing considerable anxiety in Colombo that it could trigger another tsunami event of the same magnitude of the 2004 disaster.
 
Upon my return to the United States I learned of the raging wildfires in California causing massive damages.
 
This year’s seemingly never-ending adverse weather events, exacerbated by climate change, along with adverse natural events such as earthquakes, are negatively impacting critical infrastructure globally. Some might describe 2017 as a global “annus horribilis” for adverse “force majeure” events.

Maximizing concessional resources with guarantees—a perspective on sovereigns and sub-nationals

Sebnem Erol Madan's picture


Photo: Debbie Hildreth Pisarcik | Flickr Creative Commons

Several years ago, after almost two decades at various investment banks, I joined the World Bank’s Financial Solutions team. I had always thought of the World Bank as the leading concessional lender to governments, the financial muscle behind large infrastructure projects, and the coveted supranational client of investment banks. I have since discovered the power of World Bank guarantees and how they can help borrowers maximize their World Bank country envelopes. Since joining, I have helped various clients raise over $2 billion in commercial finance. And all this with a fraction of World Bank exposure.

Farewell 2017; Hello to More and Better Infrastructure in 2018

Jordan Z. Schwartz's picture


Photo: auphoto / Shutterstock.com

As Washington, D.C.’s infrastructure braces for its first winter freeze and 2017 draws to a close, this feels like the right moment for a recap on what the year has brought us in terms of closing the infrastructure gap across emerging markets and developing economies; policy directions within and outside of the World Bank Group; new instruments, tools, and resources; and—the proof in the pudding—actual investment levels.

There may not be one blog that can capture all of those themes in detail, but here is a brief overview of what 2017 has meant and what is on the docket for 2018 and beyond.

David Lawrence – 10 Candid Career Questions with Infrastructure & PPP Professionals

David Lawrence's picture



Editor's Note: 
Welcome to the “10 Candid Career Questions” series, introducing you to the infrastructure and PPP professionals who do the deals, analyze the data, and strategize on the next big thing. Each of them followed a different path into infra and/or PPP practice, and this series offers an inside look at their backgrounds, motivations, and choices. Each blogger receives the same 15 questions and answers 10 or more that tell their career story candidly and without jargon. We believe you’ll be as surprised and inspired as we were.  For examples of other entries on the IPG blog, click here.

Getting to financial close on PPPs: Aligning transaction advisor payment terms with project success

Marc-André Roy's picture


Photo: Jakob Montrasio | Flickr Creative Commons

Getting to commercial close on a Public-Private Partnership (PPP) transaction is a major milestone. But the deal is far from done. Getting from commercial close to financial close involves satisfying a long list of PPP contract Conditions Precedent, the terms, and conditions of lenders, among other requirements. The process is tricky and involves a lot of heavy lifting, particularly in emerging markets where the market for PPPs and supporting institutional structures may not yet be robust. None of this is news.   

Yet too often, good PPPs are jeopardized by inadequate resourcing beyond achieving commercial close —especially in emerging markets. CPCS has experienced this firsthand as transaction advisors advising governments on PPP deals in developing economies.

From the Kenyan Debt Office to Washington: Sharpening skills in PPP fiscal risk management

Robert Osudi's picture



Robert Osudi is an economist at the Public Debt Management Office of the National Treasury of Kenya. In addition to working on debt policy, strategy, and risk management, his work in Kenya’s debt office focuses on analyzing fiscal risks, fiscal commitments, and contingent liabilities of Public-Private Partnership (PPP) pipeline projects. Robert is halfway through a four-month special assignment working with the Infrastructure, PPPs & Guarantees (IPG) Group at the World Bank Group as a PPP fiscal risk analyst under the auspices of the Global Secondment Program.
 
The secondment program offers an opportunity for selected officials of a member country, regional agency, development bank, international organization, academia, or private enterprise, to be appointed to the Bank for a specific period to enhance their skills, share knowledge, build strategic alliances, promote cultural exchange and diversification to contribute to the Bank’s work. Secondees are funded by the releasing organization.
 
We sat down with Robert to understand what he is learning during his on-the-job training in Washington and how he can apply that knowledge upon his return to Kenya.

Waste not, want not: PPPs lead to better waste management in Greece

Nikos Mantzoufas's picture


Photo: European Commission 

Greece has had a very poor track record in reducing the amount of waste going into landfills. One of the main reasons for this, other than the NIMBY (not-in-my-backyard) opposition to creating waste management facilities, was that for decades choosing the right technology was the apple of discord, causing disagreement and delaying advancement towards integrated waste management. In the last few years, however, three Public-Private Partnership (PPP) waste management projects have been initiated in Greece.

This past July, within two years of signing the PPP contract in 2015, the first project was inaugurated in Western Macedonia—without a day’s delay, any contract change, or cost overrun. The system will cut the amount of waste going to landfill, reuse material for commercially-viable products, boost the region’s growth prospects through job creation, and raise public awareness to prevent waste.