Shendy, RihamKaplan, ZacharyMousley, Peter2012-03-192012-03-192011-07-05978-0-8213-8781-8https://hdl.handle.net/10986/2331Examining innovative ways to address Africa's infrastructure deficit is at the heart of this analysis. Africa's infrastructure stock and quality is among the least developed in the world, a challenge that significantly hinders economic development. The study is structured around the most inhibiting constraints to developing PPPs, as shared by all six countries. Section one provides a brief background of the infrastructure needs in the sample countries and outlines the current scope of Public-Private Partnership (PPP) transactions; section two examines the sources of financing for PPPs domestic and foreign with a particular focus on domestic sources; section three explores the supporting legislative, regulatory, and institutional environment for PPPs; section four addresses issues connected with the importance of developing a sound pipeline of PPP projects; and section five tackles the importance of managing the increased government fiscal commitments that are commonly coupled with PPPs. Section six outlines medium-term options for PPP financing. Finally, section seven puts forth policy recommendations intended to assist in overcoming the challenges in building private sector confidence in the Sub-Saharan Africa (SSA) infrastructure market in order to attract greater levels of financing for private sector investment in core infrastructure services through PPPs.CC BY 3.0 IGOACCOUNTINGALTERNATIVE ASSETALTERNATIVE INVESTMENTSASSET CLASSASSET CLASSESASSET MANAGEMENTASSET-LIABILITY MISMATCHBALANCE SHEETBALANCE SHEETSBANK CREDITBANK LENDINGBANK LOANSBANKING SECTORBONDBOND HOLDERSBOND ISSUANCEBOND ISSUANCESBOND MARKETSBOND RATINGBONDSBORROWERBOURSECAPACITY BUILDINGCAPITAL INVESTMENTCAPITAL MARKETCAPITAL MARKET DEVELOPMENTCAPITAL MARKETSCAPITAL MOVEMENTSCAPITAL REQUIREMENTSCASH FLOWSCENTRAL BANKCENTRAL BANKSCOMMERCIAL BANKSCOMPETITIVE BIDDINGCORPORATE BONDCORPORATE BOND MARKETCORPORATE BONDSCOUNTRY RISKCOUPONCOUPON RATECREDIT AGENCYCREDIT ENHANCEMENTCREDIT GUARANTEECREDIT LINESCREDIT RATINGCREDIT RATING AGENCYCREDIT RATINGSCREDIT RISKCREDITORCURRENCYDEBT FINANCINGDEPOSITDEPOSIT MONEY BANKSDEVELOPING COUNTRIESDEVELOPMENT BANKDIRECT INVESTMENTDIRECT INVESTMENTSDUE DILIGENCEECONOMIC DEVELOPMENTENABLING ENVIRONMENTEQUITY FUNDSEQUITY MARKETSEXPENDITURESFINANCIAL CRISISFINANCIAL RISKSFINANCING REQUIREMENTSFIXED INCOMEFIXED INTERESTFIXED INTEREST RATEFOREIGN BANKSFOREIGN CURRENCYFOREIGN EXCHANGEFOREIGN EXCHANGE RISKFOREIGN FINANCINGFUND MANAGERSGOVERNMENT BONDGOVERNMENT BOND MARKETGOVERNMENT BONDSGOVERNMENT BUDGETGOVERNMENT GRANTSGOVERNMENT SECURITIESGOVERNMENT SUBSIDIESGOVERNMENT SUPPORTGRACE PERIODSGROUP BORROWERGUARANTEE FUNDGUARANTEE PRODUCTSHOLDINGSILLIQUIDITYIMMOVABLE PROPERTYINFLATIONINFRASTRUCTURE BONDINFRASTRUCTURE BONDSINFRASTRUCTURE CONCESSIONINFRASTRUCTURE DEVELOPMENTINFRASTRUCTURE FINANCEINFRASTRUCTURE FINANCINGINFRASTRUCTURE INVESTMENTINFRASTRUCTURE INVESTMENTSINSTITUTIONAL INVESTORSINSURANCEINSURANCE CORPORATIONINSURANCE INDUSTRIESINSURANCE INDUSTRYINSURANCE MARKETINSURANCE POLICIESINTERNATIONAL BANKINTERNATIONAL FINANCEINTERNATIONAL FINANCIAL INSTITUTIONSINTERNATIONAL FINANCIAL STATISTICSINTERNATIONAL INSURANCEINVESTINGINVESTMENT ASSETINVESTMENT BANKINVESTMENT CORPORATIONINVESTMENT FUNDINVESTMENT GUIDELINESINVESTMENT PROCESSINVESTMENT REGULATIONSISSUANCEISSUANCE OF BONDSLENDING LIMITLIABILITYLIFE INSURANCELIFE INSURANCE COMPANIESLIFE INSURANCE POLICIESLOANLOAN EXPOSURELOCAL BANKSLOCAL CURRENCYLOCAL DEBTLOCAL FINANCIAL MARKETSLOCAL MARKETLOCAL MARKETSLONG TERM DEBTLONG-TERM COSTLONG-TERM DEBTLONG-TERM DEBT MARKETLONG-TERM FINANCELONG-TERM INVESTMENTLONG-TERM LOANSLONG-TERM RESOURCELONG-TERM RESOURCESLONG-TERM YIELDSMARKET CONSTRAINTSMARKET FAILURESMARKET MAKERMATURITIESMATURITYMEZZANINE DEBTMONETARY FUNDMONEY MARKETMONEY MARKET INSTRUMENTSMORAL HAZARDMORTGAGEMUNICIPAL BONDSMUTUAL FUNDSNATIONAL INVESTMENTPARTIAL CREDITPARTIAL RISKPENSIONPENSION ASSETSPENSION FUNDPENSION FUND ASSETPENSION FUND INVESTMENTPENSION FUND INVESTMENTSPENSION FUNDSPENSION SYSTEMSPENSIONSPOLITICAL RISKPOLITICAL RISKSPORTFOLIOPOTENTIAL INVESTORPRINCIPAL REPAYMENTSPRIVATE CREDITPRIVATE EQUITYPRIVATE FINANCEPRIVATE FINANCINGPRIVATE INVESTMENTPRIVATE INVESTORSPRIVATE PARTIESPUBLIC FUNDSPUBLIC INVESTMENTRECOURSE FINANCINGREGULATORY AUTHORITYREGULATORY BARRIERSREGULATORY FRAMEWORKRESERVERESERVE BANKRETURNRETURNSRISK DIVERSIFICATIONRISK MANAGEMENTRISK MEASUREMENTRISK PREMIUMSRISK PROFILERISK SHARINGSECONDARY BOND MARKETSSECURITIESSECURITY STRUCTURESSHORT-TERM DEPOSITSSOVEREIGN DEBTSOVEREIGN LENDINGSOVEREIGN RATINGSTOCK EXCHANGESTOCK EXCHANGESSTOCKSSUBORDINATED DEBTTAXTELECOMMUNICATIONSTOTAL DEBTTRANSACTIONTRANSFER RISKSTRANSITION ECONOMIESTRANSPARENCYTREASURYWITHDRAWALWITHDRAWAL OF FUNDSYIELD CURVEWorld Bank10.1596/978-0-8213-8781-8