Private Participation in Infrastructure Database

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This series reviews new private participation in infrastructure (PPI) projects.

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Private Activity in Infrastructure Remained at Peak Levels and Highly Selective in 2010

2011-08, Izaguirre, Ada Karina

In 2010, 231 infrastructure projects with private participation reached financial or contractual closing in 41 low and middle-income countries. Infrastructure projects implemented in 1990?2009 had additional commitments of US$82.5 billion, bringing total investment in 2010 to US$170 billion. Public Private Infrastructure (PPI) activity in 2010, however, was highly concentrated in just one country: India. This country, which has been a top recipient of PPI activity since 2006, implemented 95 new projects and attracted total investment of US$74.4 billion in 2010, doubling its level of activity from 2009.

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Assessment of the Impact of the Crisis on New PPI Projects : Update 5

2010-02, Izaguirre, Ada Karina

New private infrastructure activity in developing countries recovered selectively in the third quarter of 2009. This review of new PPI projects sheds some light on recent activity and on the short-term impact of the financial crisis. Projects reaching financial or contractual closure face more difficult financial market conditions. Local state-owned banks, as well as multilateral and bilateral agencies, continue to be key financiers, and infrastructure sponsors are looking for new sources of funding such as local financing. Projects continue to be delayed or, to a lesser extent, canceled. The rate of project closure varies across developing regions, with investment in the third quarter higher in South Asia, stable in Latin America and East Asia and Pacific, and lower in the other three. The rate also varies across country income groups, with investment in the third quarter higher in lower-middle-income countries, stable in upper-middle-income countries, and lower in low-income countries. Greenfield projects continue to show growth in investment (and debt raised), while concessions and divestitures show a decline. Developing countries continue to tender and award new PPI projects. In conclusion, PPI investments have recovered in only few economies. While these success stories have boosted the totals, the vast majority of developing countries remain severely affected by the crisis. If large projects (US$1 billion or more) were excluded, almost all developing regions would have seen investment decline in the first three quarters of 2009 compared with the same period of 2008. South Asia was the only exception, thanks to the high level of activity in India. Among sectors, energy is the only one where investment grew for all project sizes, thanks to the activity in new power plants. There is also evidence of new projects being postponed and canceled because of the financial crisis.

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Investment Commitments Remain at Peak Level in Europe and Central Asia While the Number of New Projects Declines

2009-12, Izaguirre, Ada Karina, Fitzgerald, Rossa

Private activity in infrastructure in Europe and Central Asia showed mixed results in 2008, according to just-released data from the Private Participation in Infrastructure Project database. Investment in new projects slowed sharply in the second half of the year with the full onset of the financial crisis. This slowdown led to a decline in the number of projects for the entire year. The region accounted for 30 percent of the year's total investment commitments in developing countries, the largest share among developing regions. In 2008, 36 infrastructure projects with private participation reached financial or contractual closure in 11 low- or middle-income countries in the region. These involve investment commitments (hereafter, investment) of US$20.3 billion. Infrastructure projects implemented in previous years had additional commitments of US$25.7 billion, bringing total investment in 2008 to US$45.9 billion. That represented an increase of 3 percent from the level reported in 2007 and a new peak for the region. Investment in projects implemented in previous years accounted for the increase, growing by 6 percent from the level in 2007.

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Investment Commitments and the Number of New Projects Decline in East Asia and Pacific

2009-12, Izaguirre, Ada Karina, Park, JangHo

Private activity in infrastructure in East Asia and Pacific slowed in 2008, according to just-released data from the Private Participation in Infrastructure Project database. Both investment commitments and the number of new projects declined, in both the first and second half of the year. New energy projects and existing telecommunications operators accounted for most the annual investment. The region attracted 10 percent of the year's total investment commitments in developing countries. In 2008, 78 infrastructure projects with private participation reached financial or contractual closure in 10 low- or middle-income countries of East Asia and Pacific. These projects involve investment commitments (hereafter, investment) of US$8.6 billion. Infrastructure projects implemented in previous years had additional commitments of US$6.8 billion, bringing total investment in 2008 to US$15.4 billion.

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Private Activity in Transport Slows Down in 2009, But Remains Concentrated in Road Projects

2010-09, Izaguirre, Ada Karina, Nicholas, Alexander

Private activity in transport declined for the third consecutive year in developing countries. Investments fell by 20 percent and the number of projects dropped by 19 percent in 2009 compared with 2008, according to recently released data from the Private Participation in Infrastructure Database. New private activity in transport was concentrated in road projects, and in a few large developing economies such as Brazil, India, and Mexico. In 2009, 50 transport projects with private participation reached financial or contractual closure in 20 low- and middle-income countries. These projects involved investment commitments of US$19.2 billion. Transport projects implemented in previous years received additional commitments of US$2.5 billion, bringing total investment in 2009 to US$21.7 billion. The private activity was concentrated in the first two quarters of 2009, which accounted for 75 percent of investment in new projects and 64 percent of new projects. Similar concentration occurred in 2008 before the full onset of the global financial crisis. The backlog of projects from the second half of 2008 and the easing of financial constraints in the first half of 2009 (compared with the second half of 2008) may partially explain the concentration of PPI activity in the first half of 2009. Preliminary data suggests that activity by investment and number of projects in the first quarter of 2010 was similar to that reported in the first quarter of 2009.

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Investment Commitments and the Number of New Projects Decline in the Middle East and North Africa

2009-12, Izaguirre, Ada Karina, Perard, Edouard

Private activity in infrastructure in the Middle East and North Africa declined sharply in 2008, according to just-released data from the Private Participation in Infrastructure Project database. Both investment commitments and the number of new projects declined, in both the first and second half of the year. Existing telecommunications operators accounted for most of the annual investment. The region's share of total investment commitments in developing countries in 2008 was less than 4 percent, down significantly from its 7.3 percent share in 2007. In 2008, 10 infrastructure projects with private participation reached financial or contractual closure in six low- or middle-income countries in the region. These involve investment commitments (hereafter, investment) of US$2.4 billion. Infrastructure projects implemented in previous years had additional commitments of US$3.6 billion, bringing total investment in 2008 to US$6 billion. This level represented a 49 percent drop from that in 2007 and was the lowest since 2003.

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Investment Commitments Reach a New Peak in South Asia While the Number of New Projects Declines

2009-12, Izaguirre, Ada Karina, Fitzgerald, Rossa

Private activity in infrastructure in South Asia showed mixed results in 2008, according to just-released data from the private participation in infrastructure project database. Investment commitments to infrastructure projects with private participation reached a new peak thanks to additional investment in existing telecommunications operators and new energy and transport projects that reached financial or contractual closure in the first half of the year. But investment in new projects slowed in the second half of the year with the full onset of the financial crisis. This slowdown led to a decline in the number of projects for the entire year. The region accounted for 22 percent of the year's total investment commitments in developing countries. In 2008, 36 infrastructure projects with private participation reached financial or contractual closure in three South Asian countries (Bangladesh, India, and Pakistan). These projects involve investment commitments of US$17.9 billion. Infrastructure projects implemented in previous years had additional commitments of US$15.4 billion, bringing total investment in 2008 to US$33.4 billion. That represented an increase of 12 percent from the level reported in 2007 and a new peak for the region. Both new and existing projects accounted for the increase. Investment in new projects increased by 8 percent from the level in 2007, while investment in existing projects rose by 18 percent.

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Private Activity in Water and Sewerage Declines for Second Consecutive Year

2010-06, Izaguirre, Ada Karina, Perard, Edouard

In 2009 seven low- or middle-income countries implemented 35 water projects with private participation involving investment of almost US$2 billion, according to just-released data from the Private Participation in Infrastructure (PPI) database. The number of new projects with private participation that reached financial or contractual closure in 2009 declined by 46 percent compared with 2008. Annual investment commitments fell by 31 percent compared with 2008.

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Investment Commitments Remain Stable in Latin America While the Number of New Projects Declines

2009-12, Izaguirre, Ada Karina, Jett, Alexander Nicholas

Private activity in infrastructure in Latin America and the Caribbean showed mixed results in 2008, according to just-released data from the Private Participation in Infrastructure Project database. Investment in new projects slowed in the second half of the year with the full onset of the financial crisis. This slowdown led to a decline in the number of projects for the entire year. The region accounted for 26 percent of the year's total investment commitments in developing countries, the second largest share among developing regions. In 2008, 41 infrastructure projects with private participation reached financial or contractual closure in eight low- or middle-income countries in the region. These projects involve investment commitments (hereafter, investment) of US$14.6 billion. Infrastructure projects implemented in previous years had additional commitments of US$25.7 billion, bringing total investment in 2008 to US$40.3 billion. That represented an increase of 2 percent from the level reported in 2007. Investment in existing projects, up 12 percent from the level in 2007, drove the increase.

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Investment Commitments Reach a New Peak in Sub-Saharan Africa While the Number of New Projects Declines

2009-12, Izaguirre, Ada Karina, Perard, Edouard

Private activity in infrastructure in Sub-Saharan Africa showed mixed results in 2008, according to just-released data from the private participation in infrastructure project database. While investment commitments to infrastructure projects with private participation reached a new peak, the number of projects reaching closure continued to decline. Existing telecommunications operators accounted for most regional investment as well as the growth in investment. The region accounted for almost 9 percent of the year's total investment commitments in developing countries. In 2008, 15 infrastructure projects with private participation reached financial or contractual closure in 10 low- or middle-income countries in the region. These involve investment commitments of US$2.7 billion. Infrastructure projects implemented in previous years had additional commitments of US$10.8 billion, bringing total investment in 2008 to US$13.5 billion. That total represented an increase of 10 percent from the level reported in 2007 and a new peak for the region. Investment in existing projects accounted for the increase, growing by 22 percent from the level in 2007. By contrast, investment in new projects fell by 22 percent.