Download PDF by Organization for Economic Cooperation and Development: Innovative Financing Mechanisms for the Water Sector

By Organization for Economic Cooperation and Development

ISBN-10: 9264083650

ISBN-13: 9789264083653

ISBN-10: 9264083669

ISBN-13: 9789264083660

This record examines leading edge mechanisms which can aid allure new monetary assets into water and sanitation prone. specifically, it specializes in mobilising market-based repayable financing (such as loans, bonds and fairness) as a manner of bridging the monetary hole to satisfy the water-related Millennium improvement objectives and different an important region goals. The Camdessus and Gurr?­a studies, released seven and 4 years in the past, respectively, formulated a few concepts during this region. This record examines the level to which those thoughts were carried out. It seems on the speedily evolving international context and to the continuing monetary and fiscal problem, and considers how innovation in financing for the water quarter may have to adapt.Table of content material :Foreword (and Acknowledgements)Abbreviations and acronymsExecutive summaryIntroduction-Overview-Target audience-Structure of this reportChapter 1. Setting the stage-1.1. Financial flows for water and sanitation services-1.2. Why specialize in market-based repayable finance during this report?-1.3. Why is innovation had to elevate market-based repayable finance?-1.4. earlier options and their follow-upChapter 2. Mobilising market-based repayable finance-2.1. strength recipients of market-based repayable finance-2.2. strength sources-2.3. serious mismatches using innovation: a summaryChapter 3. Pushing the limits of leading edge finance-3.1. Blending grants and repayable financing-3.2. Extending the diversity of strength debtors through micro-finance-3.3. assuaging affordability constraints with output-based aid-3.4. Mitigating hazards with promises and insurance-3.5. developing grouped financing cars to extend entry to finance-3.6. expanding lending to sub-sovereigns through innovation-3.7. Strengthening the stability sheet through fairness injections-3.8. expanding transparency within the quarter through credits ratings-3.9. Developing ""bankable projects"" via undertaking coaching facilities-3.10 precis evaluationChapter 4. Assessing the effect of the worldwide monetary crisis-4.1. strength influence on market-based repayable finance-4.2. capability influence at the 3Ts-4.3. In sum: glimmers of wish after the drought?Bibliography

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Targeted investors for the bond include institutional investors (pension funds) in Uganda but also in neighbouring countries, such as Kenya (with a possible listing on the Nairobi Stock Exchange). At the time of writing, however, preparations for the bond issuance were ongoing and uncertainty introduced by the global financial crisis put the future bond issuance at risk. 8). 2. Bond issue for infrastructure investment in Johannesburg In June 2004, the city of Johannesburg issued a 12-year Rand-denominated bond with a value of USD 150 million-equivalent in order to fund essential investment in the City’s infrastructure, including in water, electricity and roads.

Governments should consider taking steps to permit the development of domestic borrowing markets for sub-sovereigns. • With appropriate reforms made in the light of lessons from previous experience, national development banks or specialised financial institutions should develop a role as intermediaries for channelling external and central government funds, and funds raised in local markets, to sub sovereign bodies. • Governments should encourage the creation of credit pools for sub-sovereigns, with an option of joint and several liability.

As they often operate in a legal vacuum, lenders are often reluctant to lend them anything as they could be expropriated at any time. Obtaining access to finance can be a key motivation for these providers when seeking a form of formal registration, which should be explicitly offered by the authorities in charge. 2. Potential sources Sources of market-based repayable finance can be broadly divided into two types: • Debt finance, including loans from commercial banks, bonds issued through capital markets and project finance;4 • Equity finance including listed and non-listed equity, with the former mobilised through capital markets whilst the latter comes from individual corporate investors or private equity funds.

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Innovative Financing Mechanisms for the Water Sector by Organization for Economic Cooperation and Development


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