Toward Better Infrastructure : Conditions, Constraints, and Opportunities in Financing Public-Private Partnerships

Intro -- Contents -- Acknowledgments -- Acronyms and Abbreviations -- Overview -- 1. Background -- Current Status of PPP Markets in Selected Countries -- This Report -- 2. Sources of Financing -- Sources of Local Financing for PPP Projects -- Sources of International Financing for PPP Projects -- 3. The Legislative and Institutional Framework -- 4. A Well-Structured PPP Pipeline -- 5. Risk Allocation and Fiscal Management of PPPs -- 6. Medium-Term Options for PPP Financing -- Tackling High Upfront Capital Costs -- Longer-Term Local Debt Financing -- Risk Mitigation Guarantee Products -- PPP Market Failures Deriving from Country Size and Cross-Border Infrastructure Financing Constraints -- 7. Recommendations -- Developing Long-Term Financing for Infrastructure -- Strengthening Other Aspects of a Strong Enabling Environment -- References -- Boxes -- Box 2.1: Pension Funds and Investments in Infrastructure in Latin American Countries -- Box 2.2: Potential Steps for Governments to Tap Financing for Infrastructure from Institutional Investors -- Box 2.3: PIDG Facilities -- Box 3.1: Examples of Sector Reforms that Supported PPP Transactions in Kenya, Nigeria, and Senegal -- Box 5.1: The Examples of a Preferred Risk Allocation Matrix -- Box 6.1: Description of MIGA Coverage Products -- Figures -- Figure 1.1: Fiscal Flows Devoted to Infrastructure -- Figure 1.2: Infrastructure Inefficiency Waste -- Figure 1.3: Infrastructure Funding Gap -- Figure 1.4: Private Participation in Infrastructure-by Sector -- Figure 1.5: Private Participation in Infrastructure-by Sector-Excluding Telecom -- Figure 1.6: Private Participation in Infrastructure-by PPP Type -- Figure 1.7: Private Participation in Infrastructure-by PPP Type-Excluding Telecom -- Figure 2.1: Financial Life Cycle of a PPP Project -- Figure 2.2: Private Credit (US billions).