Person:
Mandri-Perrott, Cledan

Infrastructure Finance and Public-Private Partnerships

Fields of Specialization

Public-Private Partnerships, Project Finance, Capital Markets, Asset Management

ORCID

0000-0001-7759-8395

Departments

Infrastructure Finance and Public-Private Partnerships

Last updated January 31, 2023

Biography

Cledan Mandri-Perrott is the Head of Infrastructure Finance and PPP, Singapore. He has been involved over the past 20 years in numerous infrastructure projects and has particularly experience in developing and implementing project finance transactions. Cledan combines an engineering, financial and legal background with sound commercial and legal expertise. Prior to joining the World Bank, he acted as transaction adviser to a number of infrastructure projects advising both Governments and Private clients. He has strong regulatory background and has designed and implemented regulatory policy frameworks. He has practical operational experience having managed a utility in Trinidad and Tobago. Furthermore, he has assisted a number of utilities in evaluating the potential benefits of privatization. He has gained a reputation as a pragmatic problem solver helping determine regulatory disputes and PPP contracts in distress through the development of innovative dispute resolution and mediation techniques between regulators and operators. He has authored operating and service agreements for the provision of basic infrastructure services. He has written extensively on issues of PPP and infrastructure and is a regular presenter and trainer on PPP related topics. A graduate in Civil Engineering, he also holds an MSc in Finance, an LLM in commercial and transaction law from the University of Dundee, and a PhD in Project Finance from the University of Groningen.

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Publication Search Results

Now showing 1 - 10 of 14

Enhancing the Creditworthiness of Municipal Bonds : Innovations from Mexico

(World Bank, Washington, DC, 2008-08) Leigland, James ; Mandri-Perrott, Cledan

In 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.
Private Sector Participation in Urban Rail : Getting the Structure Right

(World Bank, Washington, DC, 2010-04) Menzies, Iain ; Mandri-Perrott, Cledan

There is growing interest in using rail transit, trams, metros, light rail, to solve urban transportation problems, particularly road congestion and air pollution. In developing urban rail projects, a range of major cities around the world have turned to public-private partnership models, to leverage both public and private resources and expertise. Dissecting the successes and failures of public-private urban rail schemes, this note examines how policy makers can best deal with the main risks involved in designing, procuring, and implementing such schemes. It also draws lessons on best practice in developing and managing contractual arrangements that can help ensure their success and sustainability.
Strengthening Fiscal Transfers in Indonesia Using an Output-Based Approach

(World Bank, Washington, DC, 2011-01) Ellis, Peter ; Mandri-Perrott, Cledan ; Tineo, Luis

In 2010 the World Bank approved a US$220 million loan for a Local Government and Decentralization project in Indonesia. The project aims to improve the accountability and reporting of the central government's Specific Purpose Grants (DAK). Piloted in four infrastructure sub-sectors-irrigation, roads, sanitation, and water the project is the World Bank's first to apply innovative Output-Based Aid (OBA) design principles on a large scale to target improvements in inter-governmental fiscal transfers. Under the project, the DAK grants will work in a similar way to OBA subsidies, which reimburse service providers for independently verified, pre-agreed physical outputs. Up to 81 local governments in five provinces are eligible to take part in this project. This note presents an overview of the project objectives and design.
Output-Based Aid in India : Community Water Project in Andhra Pradesh

(World Bank, Washington, DC, 2008-10) Mandri-Perrott, Cledan

Providing safe drinking water to poor families in the coastal area of Andhra Pradesh is critical for the economic development of the region as well as to improve health and living conditions. A community water project supported by the Global Partnership on Output-Based Aid (GPOBA) is increasing innovation and efficiency in the sector through a community based public-private partnership model using cost-effective water purification technology. Enhancing the sustainability of pilot water projects in villages in Andhra Pradesh has been a key part of the project design. The scheme provides a performance based subsidy linked to the delivery of pre-agreed outputs which include three months of billed water services. The output-based approach requires that tariffs paid by users for consumption cover the costs of operation and maintenance, user-fee collection, and education and communication activities with key stakeholders and vulnerable groups such as young mothers, infants, and families living below the poverty line. Tariffs also cover loan repayment, thus helping to ensure the long-term sustainability of the services. The project has potential for replication in other villages in Andhra Pradesh and ultimately in other parts of India.
Output-Based Disbursements in Mexico : Transforming the Water Sector in Guanajuato

(World Bank, Washington, DC, 2008-09) Mandri-Perrott, Cledan ; Saltiel, Gustavo

A project in the Mexican state of Guanajuato shows how tying disbursements to specific outputs can provide incentives for effective implementation of a water sector strategy. The disbursements, from pooled government and World Bank loan funds, are made against connections to safe and reliable water service and improvements in utilities' efficiency and wastewater treatment. This scheme has shifted the focus from inputs to performance standards. And it has put the burden of good design on the state government, requiring it to develop a clear strategy for the sector and a system for measuring results. The scheme has proved to be effective in improving sector performance, ensuring accountability by municipal utilities, and supporting medium to long-term planning for better water and environmental management.
Connecting Colombia's Poor to Natural Gas Services : Lessons Learned from a Completed Output-Based Aid Project

(World Bank, Washington, DC, 2010-01) Mandri-Perrott, Cledan

The Global Partnership on Output-Based Aid (GPOBA) has recently completed a project that made 35,000 new natural gas connections to poor households in Colombia's Caribbean coastal region. This partnership between GPOBA and Fundacion Promigas (a charitable foundation established by Colombian gas distribution holding company, Promigas) has resulted in substantial benefits to Colombia's poor population. Because in-home natural gas connections provide a safer, more environmentally friendly, and less expensive substitute to previously used fuels, poor families are enjoying the long-term advantages from this program's one-time subsidies. This note explores the results of this program and draws lessons for future projects.
Output-Based Aid in Honduras : An OBA Facility for the Water and Sanitation Sector

(World Bank, Washington, DC, 2009-09) Mandri-Perrott, Cledan ; Schiffler, Manuel ; Silvia, Ana Aguilera

Honduras has achieved a reasonable level of access to water supply and sanitation, but gaps in coverage remain, especially in rural and peri-urban areas, and service quality for those with access is often poor. To help the Government of Honduras achieve universal coverage and improve service quality, the Global Partnership on Output-Based Aid (GPOBA) is funding a project to test the viability of an innovative output-based aid mechanism for financing water and sanitation services. Housed within the Honduran Social Investment Fund, this 'OBA Facility' the first such facility funded by GPOBA aims to improve access to water and sanitation services for about 15,000 low-income households, and to increase efficiency and transparency in sector investment funding. To be eligible for funding from the OBA Facility, projects must meet specific criteria and payments are made against verifiable results.
Output-Based Aid in Colombia : Connecting Poor Households to Natural Gas Service

(World Bank, Washington, DC, 2007-11) Mandri-Perrott, Cledan ; Patella, Dominic

Natural gas connections could bring substantial benefits to poor households in Colombia.compared with other fuels typically used for cooking, natural gas is safer, less expensive, and less environmentally damaging. But even though gas is more affordable, connection fees can put the cost of switching to this fuel out of reach for poor families. The situation in Colombia, with families unable to afford connection fees but able to pay monthly gas service bills, is well suited to the one-time use of output measurable outputs. The Global Partnership on Output-Based Aid (GPOBA) subsidy is designed to make each connection economically feasible while still requiring beneficiary families to make a substantial financial contribution. The project serves as a pilot program, demonstrating a model that regional gas distribution companies can replicate throughout Colombia to speed access to piped natural gas for poor households. By transferring performance risks to privately held regional distribution companies, GPOBA's output-based subsidy approach provides incentives for quality work and timely project completion. GPOBA's effort in Colombia is an example of how output-based aid can increase accountability and leverage the strengths of private firms to produce tangible results.
Prioritizing Infrastructure Investments in Panama: Pilot Application of the World Bank Infrastructure Prioritization Framework

(World Bank, Washington, DC, 2016-04) Marcelo, Darwin ; Mandri-Perrott, Cledan ; House, Schuyler

Infrastructure services are significant determinants of economic development, social welfare, trade, and public health. As such, they typically feature strongly in national development plans. While governments may receive many infrastructure project proposals, however, resources are often insufficient to finance the full set of proposals in the short term. Leading up to 2020, an estimated US$836 billion - 1 trillion will be required each year to meet growth targets worldwide (Ruiz-Nunez and Wei, 2014; World Bank). Global estimates of infrastructure investments required to support economic growth and human development lie in the range of US$65-70 trillion by 2030 (OECD, 2006), while the estimated pool of available funds is limited to approximately US$45 trillion (B20, 2014). The past twenty years have also seen a shift towards decentralized infrastructure planning. Many subnational governments, regional entities, and sector agencies have been delegated responsibility for infrastructure planning promote local responsiveness, but responsibility for allocating funds often remains with a centralized finance agency (CFA). While constituencies may propose numerous projects, governments often have insufficient financial resources to implement the full suite of proposals. This report presents the IPF methodology and results of the pilot application to a select set of transport and water and sanitation projects in Panama. The report first gives background information on infrastructure prioritization in Panama, then follows with a description of the IPF in technical and implementation terms. Next, we present the results of the pilot and close with recommendations for implementing IPF to a wider set of projects.
Prioritizing Infrastructure Investment: A Framework for Government Decision Making

(World Bank, Washington, DC, 2016-05) Marcelo, Darwin ; Mandri-Perrott, Cledan ; House, Schuyler ; Schwartz, Jordan

Governments must decide how to allocate limited resources for infrastructure development, particularly since financing gaps have been projected for the coming decades. Social cost-benefit analysis provides sound project appraisal and, when systematically applied, a basis for prioritization. In some instances, however, capacity and resource limitations make extensive economic analyses across all projects unfeasible in the immediate term. This paper responds to a need for expanding the available set of tools for project selection by proposing an alternative prioritization approach that is systematic and feasible within the current resource means of government. The Infrastructure Prioritization Framework is a multi-criteria decision support tool that considers project outcomes along two dimensions, social-environmental and financial-economic. When large sets of small- to medium-sized projects are proposed, resources are limited, and basic project appraisal data (but not full social cost-benefit analysis) are available, the Infrastructure Prioritization Framework can inform project selection by combining selection criteria into social-environmental and financial-economic indexes. These indexes are used to plot projects on a Cartesian plane, and the sector budget is imposed to create a project map for comparison along each dimension. The Infrastructure Prioritization Framework is structured to accommodate multiple policy objectives, attend to social and environmental factors, provide an intuitive platform for displaying results, and take advantage of available data while promoting capacity building and data collection for more sophisticated appraisal methods and selection frameworks. Decision criteria, weighting, and sensitivity analysis should be decided and made transparent in advance of selection, and analysis should be made publicly available and open to third-party review.