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The Impact of Private Sector Participation in Infrastructure : Lights, Shadows, and the Road Ahead

Andrés, Luis A.; Guasch, J. Luis; Haven, Thomas; Foster, Vivien
Fonte: Washington, DC : World Bank Publicador: Washington, DC : World Bank
EN_US
Relevância na Pesquisa
66.46%
As numerous countries in Latin America and the Caribbean and elsewhere are moving toward a second phase of private participation in infrastructure programs mostly through public-private partnership schemes and other countries are just beginning the process, several concerns remain from the outcomes of the first phase. These concerns are making governments cautious in moving forward. The Impact of private sector participation in infrastructure addresses these concerns and brings clarity to the debate on the impact of private participation in infrastructure. The assessment of this impact may be one of the most emotional policy issues in economics, as it is clouded in a mist of myths, perceptions, and reality. This book analyzes the impact and sorts out the truth from the myths. The authors take a systematic and hard look at the facts (i.e., data) in Latin America, where starting in the late 1980s, many governments brought private sector participation into the delivery of essential utilities services. Although there are many assessments of this experience...

Financing of the Private Sector in Mexico, 2000-05 : Evolution, Composition, and Determinants

Stephanou, Constantinos; Munoz, Emanuel Salinas
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Relevância na Pesquisa
76.55%
The objective of this paper is to describe the evolution, composition, and determinants of financing to the nonfinancial private sector in Mexico between 2000 and 2005. Supported by the macroeconomic environment and financial system reforms, total financing to the private sector (particularly consumer credit) increased relative to GDP, while accessibility and affordability generally improved. Equity issuance did not play an important role during the period under consideration. Although the supply of financing shifted toward domestic nonbank providers, commercial banks remain the primary source of funding. Significant progress was made in cleaning up bank loan portfolios and in strengthening financial system soundness and infrastructure. The prospects for continued private sector financing growth remain very positive, but financing is not spread out evenly across all market segments. The authors conclude with some policy implications to further facilitate deeper and broader financing of the private sector.

Do Regulation and Institutional Design Matter for Infrastructure Sector Performance?

Andres, Luis; Guasch, Jose Luis; Straub, Stephane
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Relevância na Pesquisa
66.39%
This paper evaluates the impact of economic regulation on infrastructure sector outcomes. It tests the impact of regulation from three different angles: aligning costs with tariffs and firm profitability; reducing opportunistic renegotiation; and measuring the effects on productivity, quality of service, coverage, and prices. The analysis uses an extensive data set of about 1,000 infrastructure concessions granted in Latin America from the late 1980s to the early 2000s. The analysis finds that as the theory indicates, regulation matters. The empirical work here reported shows that in three relevant economic aspects-aligning costs and tariffs; dissuading renegotiations; and improving productivity, quality of service, coverage, and tariffs-the structure, institutions, and procedures of regulation matter. Thus, significant efforts should continue to be made to improve the structure, quality, and institutionality of regulation. Regulation matters for protecting both consumers and investors, for aligning closely financial returns and the costs of capital...

Working with the Private Sector for Child Health

Waters, Hugh; Hatt, Laurel; Axelsson, Henrik
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
EN_US
Relevância na Pesquisa
66.55%
This document assesses the current importance and potential of the private sector in contributing to child health. In many countries private and non-governmental providers are more commonly consulted for child health illnesses than public providers are. Even poor families often use private sector services. Families spend relatively large amounts of money for curative services in the private sector, even when there are cheaper public sector alternatives available. However, in many settings private providers are poorly regulated and the technical quality of the services they provide is questionable. This document focuses on the role of the private sector in the direct provision of child health services. The private sector clearly has a much broader potential role in many other areas related to and supporting the provision of child health services-including the provision of ancillary services, training of health professionals (both pre-service and in-service), communication services, and financing of health care. The potential of the private sector in each of these areas is touched on in this document...

Launching Public Private Partnerships for Highways in Transition Economies

Queiroz, Cesar
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
EN_US
Relevância na Pesquisa
66.59%
In many countries the private sector has been involved in financing infrastructure through concessions under a public-private partnership (PPP) program. PPP schemes, however, are somewhat underutilized in transition economies, where the potential financing gaps are significant and growing, and there seems to be an enormous potential for more private sector involvement in the financing and operation of highway assets in these countries. Institutions such as the World Bank can contribute to enhance private financing of road infrastructure through greater use of their guarantee power, in addition to supporting, when required, the public sector contribution to the construction cost of a PPP project through loans. Partial risk guarantees are particularly relevant in the context of seeking more private involvement in the financing of road infrastructure. This paper reviews potential applications of partial risk guarantees, the required legal framework (for example, concession law) for attracting private capital for PPP schemes...

Private Sector Participation in Market-Based Energy-Efficiency Financing Schemes : Lessons Learned from Romania and International Experiences

World Bank
Fonte: Washington, DC Publicador: Washington, DC
EN_US
Relevância na Pesquisa
66.49%
Financing of energy-efficiency (EE) projects in a country almost always commences with public funds. Examples are energy service company (ESCO) businesses in the United States and Canada that were able to take advantage of public funds for public buildings (World Bank 1999), most of the EE funds worldwide as compiled in a recent Alliance to Save Energy report (ASE 2002), or various EE projects funded by international financial institutions (IFIs). A sustainable EE business can, however, develop only if public funding is complemented by funding from the private sector. In the past few years, some equity funds with IFI and private sector participation have sprung up, such as the Renewable Energy and Energy Efficiency Fund for Emerging Markets (REEF) and Dexia-FondElec, and several IFI/GEF projects in transition and developing countries have experimented with various features that would reduce the barriers for private sector involvement in financing EE projects. The longest running of those financial schemes is the Hungary IFC/GEF Guarantee Fund. In light of the lessons learned from those projects...

Private Sector Involvement in Road Financing

Brocklebank, Peter
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
EN_US
Relevância na Pesquisa
66.6%
Achieving private sector involvement in financing, provision and management of roads requires specialized legal and institutional frameworks, public sector expertise, advisor support and sustained political commitment. In many African States, there is little experience of private sector involvement in the road sector but there is encouragement to promote such involvement from development partners. Increased private sector involvement in public sector procurement has been for many years an important aspect of the infrastructure investment policy of development partners, such as the World Bank and the African Development Bank. Public Private Partnerships (PPPs) are one of a number of initiatives being pursued within Africa, in relation to road sector reforms. In particular, the road sector reforms under the Road Management Initiative (RMI), launched in 1988 by the SSATP and the World Bank, in collaboration with other development partners have sought to improve road service delivery by reforming public sector institutions and legislation through clearly defined responsibility...

Investment Financing in the Wake of the Crisis

Chelsky, Jeff; Morel, Claire; Kabir, Mabruk
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Brief
EN_US
Relevância na Pesquisa
66.53%
Sustained growth in emerging markets and developing economies requires long-term, reliable capital to finance productive investment, including in basic infrastructure. However, the availability and composition of long-term financing is constrained, partly due to fragile market conditions and cyclical weaknesses in parts of the global economy, as well as longer-term trends. This has had a particularly negative impact on developing economies that do not have reliable access to international bond markets and on sectors that have traditionally relied on bank lending (such as infrastructure). At the same time, fiscal space has been eroded by the crisis, and the direct lending capacity of Multilateral Development Banks (MDBs) remains constrained. This heightens the importance of the catalytic role of the official sector in mobilizing long-term financing from the private sector by drawing on its ability to reduce and share risk. This note explores some of the ways in which MDBs are equipped to serve this purpose.

The U.K. Treasury Infrastructure Finance Unit; Supporting PPP Financing During the Global Liquidity Crisis

Farquharson, Ed; Encinas, Javier
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Brief; Publications & Research :: Brief; Publications & Research
ENGLISH; EN_US
Relevância na Pesquisa
66.48%
2008 and 2009 were challenging years to raise finance for public-private partnerships (PPP) and private finance initiative (PFI) schemes in the United Kingdom (UK). After some analysis, it was decided to focus on addressing the underlying problem of liquidity and to provide a solution that will encourage banks to resume their long-term financing of projects. In March 2009, the treasury created the infrastructure finance unit (TIFU) with the objective of lending to PFI projects on the same terms as commercial lenders in the event that insufficient private sector lending was available. This was successful in helping to inject confidence back into the market, as witnessed by the fact that projects have continued to be financed since the onset of the credit crisis. Recently, Her Majesty (HM) treasury announced that it will bring together of TIFU, the program and project delivery team of partnerships UK, and the treasury PPP policy unit into a single entity, infrastructure UK (IUK), which will focus on the next stage of U.K. infrastructure development.

Attracting Investors to African Public-Private Partnerships : A Project Preparation Guide; Promotion des partenariats public-prive africains aupres des investisseurs : guide de preparation de projets

Infrastructure Consortium for Africa; Public-Private Infrastructure Advisory Facility
Fonte: World Bank Publicador: World Bank
Tipo: Publications & Research :: Publication; Publications & Research :: Publication
ENGLISH
Relevância na Pesquisa
66.53%
What transforms a Public-Private Partnership (PPP) project from a desirable project on a government 'wish list' to an attractive investment opportunity in the eyes of a potential private sector partner? This guide seeks to enhance the chances of developing effective partnerships between the public and the private sectors by addressing one of the main obstacles to the effective delivery of PPP projects: having the right information on the right project for the right partners at the right time. This guide starts with a review of the meaning of the term PPP, which can be difficult to define (chapter two). This is followed by a look at the foundation blocks for engaging with the private sector (chapter three), an assessment of the issues relevant to project selection (chapter four), and a review of the actions involved in preparing projects for market, including how the process should be managed (chapter five). The particular issue of managing advisers is examined in chapter six, while chapter seven looks at how the public sector should interact with the private sector during the project selection and preparation phases...

Bhutan Investment Climate Assessment Report : Vitalizing the Private Sector, Creating Jobs, Volume 1. Summary Report

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Economic & Sector Work :: Investment Climate Assessment (ICA); Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
66.35%
The objective of the Bhutan Investment Climate Assessment (ICA) is to evaluate the investment climate in Bhutan in all its operational dimensions and promote policies to strengthen the private sector. This ICA consists of two volumes. Volume 1 summarizes the main results. Volume 2 presents a more detailed analysis of each of the three main themes of the report: labor productivity and skills, access to finance, and business government relations, and is supplemented by a chapter on the gender dimensions of the investment climate. Volume 2 also includes the supporting econometric analysis of the enterprise survey data. The purpose of Volume 2 is to provide additional detail on the underlying data and analysis which supports the main results summarized in Volume 1. In Volume 2, Chapter 1 sets the Bhutanese context and background, explains what's new in the second Bhutan Investment Climate Assessment, and presents the overall findings of the 2010 report. Chapter 2 reviews the characteristics of the investment climate in Bhutan...

IFC 2004 Annual Report : Adding Value to Private Sector Investment, Volume 1; Corporacion Financiera Internacional (CFI) informe anual, 2004 - valor agregado a la inversion privada Societe Financiere Internationale (SFI) rapport annuel, 2004 - une valeur ajoutee a l'investissement prive

International Finance Corporation
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Publications & Research :: Publication
ENGLISH; EN_US
Relevância na Pesquisa
66.38%
For the fiscal year ended June 30, 2004, the International Finance Corporation (IFC) expanded its sustainable development impact through private sector project financing operations and advisory activities. This year the Board of Directors approved a number of investments and maintained close oversight of development and implementation of IFC strategy. The Board was heavily involved in discussion of IFC's strategic directions, which outline the overall framework for future IFC activities. The Board urged IFC to collaborate more closely with other World Bank Group institutions, especially in providing technical assistance on the business climate and private sector development. In this regard, Directors were pleased to note the increased cooperation between IFC and IDA in Africa. The Board also reviewed country-specific operations and discussed 15 joint World Bank-IFC-MIGA country assistance strategies and related products. Directors noted the challenges in both maintaining profitability and increasing development impact...

OECS Private Sector Financing : Ridging the Supply-Demand Gap

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Economic & Sector Work :: Other Financial Sector Study; Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
96.52%
The high levels of public debt and persistent fiscal deficits limit Organization of Eastern Caribbean States (OECS) governments' ability to pursue counter-cyclical fiscal policies during future economic downturns, leaving private investment as the key driver of future growth. This study on private sector financing in the OECS analyzes the issue of access to finance from three different angles: the demand side; the supply side; and the enabling environment. It is not possible to fully analyze problems of access to finance without a broad approach. Demand side, supply side and the enabling environment are jointly analyzed in this study to identify key measures that could be applied in order to improve the enabling environment, create better opportunities for business growth and innovation (diversification), and place financial sector institutions in a position to provide finance, especially to SMEs, in a sustainable way.

Fostering the Development of Greenfield Mining-related Transport Infrastructure through Project Financing

International Finance Corporation; Public-Private Infrastructure Advisory Facility
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Publication; Publications & Research :: Working Paper
ENGLISH; EN_US
Relevância na Pesquisa
66.61%
The purpose of this study is to serve as a guide on developing Greenfield transport infrastructure (rail and port) primarily used to support mining operations ('mining-related infrastructure'), through Public-Private Partnership (PPP) schemes and on a project finance basis. The focus is on key financing issues and considerations, as well as recommendations for governments and private-sector participants, specifically in the context of sub-Saharan Africa and similar regions. Over the past decade, the rapid economic growth in newly industrialized markets has fueled a strong demand for various commodities (such as iron, coal, bauxite and copper), with significant impact on their prices. The last ten years have seen an unprecedented rise in the price of mineral commodities worldwide. From the mid-2000s through the early 2010s, the world's largest mining companies embarked in the planning of numerous and often very large mining projects to satisfy what was seen as an ever growing double digit demand for minerals (iron ore...

Healthy Partnerships : How Governments Can Engage the Private Sector to Improve Health in Africa

International Finance Corporation
Fonte: World Bank Publicador: World Bank
Tipo: Publications & Research :: Publication; Publications & Research :: Publication
ENGLISH
Relevância na Pesquisa
66.5%
Health systems across Africa are in urgent need of improvement. The public sector should not be expected to shoulder the burden of directly providing the needed services alone, nor can it, given the current realities of African health systems. Therefore to achieve necessary improvements, governments will need to rely more heavily on the private health sector. Indeed, private providers already play a significant role in the health sector in Africa and are expected to continue to play a key role, and private providers serve all income levels across sub- Saharan Africa's health systems. The World Health Organization (WHO) and others have identified improvements in the way governments interact with and make use of their private health sectors as one of the key ingredients to health systems improvements. Across the African region, many ministries of health are actively seeking to increase the contributions of the private health sector. However, relatively little is known about the details of engagement; that is...

Iran - Medium Term Framework for Transition : Converting Oil Wealth to Development

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Economic & Sector Work :: Country Economic Memorandum; Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
66.39%
Iran is about 10 percent of Gross Domestic Product (GDP) off an economic equilibrium that will reduce unemployment and improve significantly people's welfare by converting oil wealth into sustainable development. 1) It is about 10 percent of GDP short in the additional savings and investment needed to attain growth that will reduce unemployment. 2) Optimal management of Iran's oil to provide the above needed savings and achieve an optimal balance between consumption and savings that will sustain the benefits from oil after it is exhausted, requires that it allocate about 10 percent of GDP more for savings and investment and less to consumption from its oil wealth. 3) That 10 percent adjustment can come from the reform of Iran's inefficient energy subsidy system, which also happens to average about 10 percent of the GDP a year. These expenditures can be transformed into budget surpluses that will provide ample credit to the private sector to grow. This adjustment -at the core of Iran's medium and long term fiscal strategy- is a main pillar of Iran's transition to a market economy led by the private sector. Hence...

Mexico : Infrastructure Public Expenditure Review (IPER)

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Economic & Sector Work :: Public Expenditure Review; Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
66.52%
This Infrastructure Public Expenditure Review presents options for addressing infrastructure services needs in Mexico, including (a) improvements in program design and budget allocations, (b) efficiency gains in service provision, and (c) increased private sector participation and financing in a manner consistent with the government's goals for economic growth, and within its fiscal constraints. Three infrastructure sectors-water supply and sanitation, transport, and electricity have been selected for inclusion. The study is structured in five interrelated chapters: Chapter 1 presents an overview of the infrastructure sectors-agencies and aggregate Spending. Chapter 2 reviews the levels of spending on the selected infrastructure sectors in Mexico, and existing cost-recovery mechanisms, and the related outcomes: quality and efficiency of service, and extent of coverage being offered. To explain these outcomes, Chapter 3 analyzes the processes of planning, spending allocation, and coordination within and across sub-sectors. The role of local governments and the nature of incentives they face are also discussed. Chapter 4 discusses the effectiveness of the existing programs in Mexico to encourage private participation and financing in the selected infrastructure sectors. The challenges for infrastructure development will require new and different uses of private sector financing and operations...

Reducing Investment Climate Constraints to Higher Growth : Lao People's Democratic Republic Private Sector and Investment Climate Assessment

World Bank; Asian Development Bank
Fonte: Washington, DC: World Bank Publicador: Washington, DC: World Bank
Tipo: Economic & Sector Work :: Investment Climate Assessment (ICA); Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
66.4%
The survey on Lao private sector and investment climate covered 303 firms in six sectors and seven provinces (Vientiane City, Oudomxay, Luang Prabang, Luangnamtha, Xayaboury, Savannakhet, and Champassack). The survey included 246 firms in manufacturing covering wood processing, construction materials, garments, textiles/handicraft, and food and beverage sectors and 57 firms in tourism covering hotels, tour operators, and travel agencies. With the exception of the garment and wood processing sectors, which traditionally have larger firms and more foreign investment, most firms in the sample were domestic small and medium enterprises (SMEs). The survey provided three types of information useful for the Investment Climate Assessment: perceptions of firms operating in Lao PDR regarding the relative importance of investment climate constraints to their businesses; quantitative data on firms' performance and productivity; and comparator country information from their ICAs, for benchmarking Lao PDR's investment climate against regional standards.

Health Care in Sri Lanka : What Can the Private Health Sector Offer?

Govindaraj, Ramesh; Navaratne, Kumari; Cavagnero, Eleonora; Seshadri, Shreelata Rao
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Working Paper; Publications & Research
ENGLISH; EN_US
Relevância na Pesquisa
66.6%
This review represents an attempt to bridge the significant knowledge gaps on the private health sector in Sri Lanka, and foster a dialogue on opportunities for collaboration between the government and the private sector. It accomplishes this through a systematic collection and analysis of primary and secondary data on the provision, financing, and regulation of health care services. On health service delivery, the review finds that the private sector: includes a range of providers; focuses primarily on curative and outpatient services rather than preventive services; is heavily dependent on the public sector for its supply of human resources; and is concentrated in urban areas. The quality of health care services in Sri Lanka in both the private and public sectors, while better than in most developing countries, still lags behind those in more advanced countries. There is also little systematic dialogue and collaboration between the public and private sectors. On financing, the review finds that private health expenditure is more than half of total health expenditure...

Private Sector Participation in Light Rail-Light Metro Transit Initiatives

Mandri-Perrott, Cledan; Menzies, Iain
Fonte: World Bank Publicador: World Bank
Tipo: Publications & Research :: Publication; Publications & Research :: Publication
ENGLISH
Relevância na Pesquisa
66.54%
This book aims to help governments and public authorities to establish effective light rail-light metro transit (LRMT) systems, and focuses on use of Public-Private Participation (PPP) arrangements. Rather than identify a single approach, authors present options and discuss practical issues related to preparing and implementing new LRMT PPP schemes. The approach is focused on providing information that can be used to make informed decisions, adapted to local policy and objectives. The material presented is intended as a practical guide to developing LRMT PPPs in both developed and developing countries. This work endeavors to provide answers to readers' questions regarding how to successfully incorporate private sector participation in LRMT with a lesser emphasis on why LRMT and the private sector may be beneficial. The primary focus of this text is guiding the reader from design through to project implementation. It starts from the premise that underlying transport policy decisions will have already been made and that LRMT has already been identified as the appropriate transport solution. The authors have included some limited discussion of policy and technical issues where these directly impact the LRMT PPP approach. The approach is presented in nine sections...