Items in this collection
PublicationPPI in Poor Countries : How to Increase Private Participation in Infrastructure Management and Investment(World Bank, Washington, DC, 2010-02) Leigland, JamesTo overcome huge shortfalls in access to infrastructure services, poor countries need much higher investment levels and more expertise to build, operate, and maintain infrastructure facilities. The private sector is one source for such resources, and projects involving private participation in infrastructure (PPI) have increasingly been used in developing countries. But PPI investment has been much lower in poor countries than in better-off developing countries-and has been more affected by the global financial crisis. How can PPI projects play a larger role in improving infrastructure service provision in these countries? PublicationAnother Lost Decade? Effects of the Financial Crisis on Project Finance for Infrastructure(World Bank, Washington, DC, 2009-06) Leigland, James; Russell, HenryRapid growth in project finance, driven by huge increases in liquidity, helped fuel the gains in private participation in infrastructure (PPI) in developing countries in the past decade. But when the financial crisis hit, the excess liquidity began to dry up as lenders backed away from practices that had helped generate it. The effects are already apparent in greater delays in financial closures, more cancellations, and higher financing costs for PPI projects. If full recovery of the project finance market takes much longer than expected, some of the measures that are now being adopted to avoid shutting down project pipelines might have unintended and very negative consequences. PublicationNew Needs for Technical Assistance : Responding to the Effects of the Financial Crisis on Private Participation in Infrastructure(World Bank, Washington, DC, 2009-06) Leigland, James; Russell, HenryIn 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. PublicationEnhancing the Creditworthiness of Municipal Bonds : Innovations from Mexico(World Bank, Washington, DC, 2008-08) Leigland, James; Mandri-Perrott, CledanIn 2001-03 the municipal bond market in Mexico was among the most active in the developing world. Government officials had found a way to dramatically enhance the creditworthiness of local government debt without using sovereign guarantees. The technique, adapted in part from private sector 'future flow' financing deals, enabled a state or local government to earn significantly higher credit ratings for bond issues than for its normal balance sheet debt. Many other developing countries have turned to Mexico as a source of innovation that may have application in their own markets. PublicationAre Brownfield Concessions Poised for a Comeback? New Signs of Life After a Decade in Decline(World Bank, Washington, DC, 2008-05) Leigland, JamesOnce expected to be the signature contract of private participation in infrastructure and for a time its fastest growing form, the brown field concession was hit hard by the Asian crisis and has never recovered. Because these contracts involve existing, usually dilapidated government assets, brown field concessions tackled the toughest infrastructure problems in the developing world. But the Asian crisis exposed the fragility of this mechanism, and its sudden unpopularity almost single-handedly crashed the developing world market for private participation in infrastructure. PublicationPort Reform in Nigeria : Upstream Policy Reforms Kick-Start One of the World's Largest Concession Programs(World Bank, Washington, DC, 2007-03) Leigland, James; Palsson, GylflOver a two-year period, beginning in late 2004, the Nigerian federal government implemented one of the most ambitious port concessioning programs ever attempted. The success of this program resulted from the government's vision and decisiveness, as well as the need to remedy massive shortcomings in the sector, which were sharply inhibiting economic development. But the program also benefited strongly from policy reform recommendations made by PPIAF-funded consultants in 2002. The role of these upstream policy and planning recommendations highlights the value of best practice steps for creating an enabling environment in which sustainable arrangements for the private participation in infrastructure can be concluded. PublicationReform, Private Capital Needed to Develop Infrastructure in Africa : Problems and Prospects for Private Participation(World Bank, Washington, DC, 2006-05) Leigland, James; Butterfield, WilliamIn Sub-Saharan Africa, the overwhelming need for infrastructure has motivated regional economic organizations to push for an ambitious agenda of private participation. But to begin solving Africa's infrastructure investment problems will also require broad institutional reform along with greater financial commitments by governments and donors. The private sector appears capable of supplying only a fraction of the estimated US$5-12 billion a year in additional infrastructure finance that Africa needs to meet its Millennium Development Goals for infrastructure. Meeting Africa's infrastructure development challenges will require substantial increases in government budgetary allocations and official development assistance. PublicationResponding to Surging Demand for PPIAF Assistance in Africa : A Response Combining Traditional and New Approaches(World Bank, Washington, DC, 2006-05) Leigland, JamesIn Africa. many now seem to agree that developing infrastructure is critical for reducing poverty and promoting sustained economic growth, that the private sector has an essential contribution to make in this effort, and that while expanding the private sector's participation in infrastructure is challenging under any circumstances, it is more difficult in Africa than anywhere else. This new view has led to a surge in demand for assistance from the Public-Private Infrastructure Advisory Facility (PPIAF), and PPIAF is responding through a strategy combining its traditional upstream work with a greater focus on innovative new approaches to private participation in infrastructure. PublicationIs the Public Sector Comparator Right for Developing Countries? Appraising Public-Private Projects in Infrastructure(World Bank, Washington, DC, 2006-04) Leigland, JamesAfrican officials have shown new interest in infrastructure projects involving private participation. But with so little experience with such projects, these officials often have limited knowledge about how best to assess their value for money. Some experts have suggested that developing countries use the method centering on the public sector comparator. But this method has come under criticism in some industrial countries. The debate about its use in the industrial world raises questions about whether it is appropriate in developing countries. This paper discusses: how the method works; what the problems are; what the U.K. reforms do; and what about developing countries.