Mitigating Risks in Power Reform : A New World Bank Lending Approach - Power Sector Reform in the Indian State of Haryana

The World Bank has agreed to support power sector reforms in Haryana with a new type of lending instrument--the adaptable program loan--recently approved by its board of directors. Under this approach, being applied for the first time, the Bank wi...

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Main Author:	Mostefai, Djamal
Format:	Viewpoint
Language:	English
Published:	World Bank, Washington, DC 2012
Subjects:	ACCOUNTABILITY ADAPTABLE PROGRAM LOANS ADJUSTMENT LOANS AGRICULTURE AUTHORITY BORROWER COMMERCIAL BANKS COMMITMENT COMMITMENTS COMPETITIVE BIDDING CONSENSUS CONSTITUENCIES CONSUMERS CREDITWORTHINESS DEBT DEBT SERVICE DISBURSEMENT ECONOMIC COOPERATION ELECTRICITY FINANCIAL RESTRUCTURING FINANCIAL VIABILITY INSTITUTIONAL DEVELOPMENT LICENSES LOAN LOAN STRUCTURE LOW TARIFFS MINISTERS PRIVATE SECTOR PRIVATIZATION PROJECT SPONSORS REGULATORY AGENCY REGULATORY MECHANISM REHABILITATION RESIDENTIAL CONSUMERS REVENUE COLLECTION STATE BUDGET STATE GOVERNMENT TECHNICAL ASSISTANCE UTILITIES VALUATION WORLD BANK LENDING WORLD BANK LOANS POWER SECTOR REFORM LENDING INSTRUMENTS RISK ASSESSMENT INVESTMENT LOANS LONG TERM LOANS
Online Access:	http://documents.worldbank.org/curated/en/1998/05/693582/mitigating-risks-power-reform-new-world-bank-lending-approach-power-sector-reform-indian-state-haryana http://hdl.handle.net/10986/11552

id	okr-10986-11552
recordtype	oai_dc
spelling	okr-10986-115522021-04-23T14:02:56Z Mitigating Risks in Power Reform : A New World Bank Lending Approach - Power Sector Reform in the Indian State of Haryana Mostefai, Djamal ACCOUNTABILITY ADAPTABLE PROGRAM LOANS ADJUSTMENT LOANS AGRICULTURE AUTHORITY BORROWER COMMERCIAL BANKS COMMITMENT COMMITMENTS COMPETITIVE BIDDING CONSENSUS CONSTITUENCIES CONSUMERS CREDITWORTHINESS DEBT DEBT SERVICE DISBURSEMENT ECONOMIC COOPERATION ELECTRICITY FINANCIAL RESTRUCTURING FINANCIAL VIABILITY INSTITUTIONAL DEVELOPMENT LICENSES LOAN LOAN STRUCTURE LOW TARIFFS MINISTERS PRIVATE SECTOR PRIVATIZATION PROJECT SPONSORS REGULATORY AGENCY REGULATORY MECHANISM REHABILITATION RESIDENTIAL CONSUMERS REVENUE COLLECTION STATE BUDGET STATE GOVERNMENT TECHNICAL ASSISTANCE UTILITIES VALUATION WORLD BANK LENDING WORLD BANK LOANS POWER SECTOR REFORM LENDING INSTRUMENTS RISK ASSESSMENT INVESTMENT LOANS LONG TERM LOANS ADJUSTMENT LOANS The World Bank has agreed to support power sector reforms in Haryana with a new type of lending instrument--the adaptable program loan--recently approved by its board of directors. Under this approach, being applied for the first time, the Bank will provide a series of loans totaling US$600 million over eight to ten years, but will commit the loans only when the state government has reached agreed milestones. This approach allows the state government milestones--not the covenants of standard World Bank loans --to determine the timing of controversial actions. The flexibility is intended to improve the reform program's chances of success and avoid the stop-start lending pattern that has characterized the Bank's past lending to state electricity boards. This Note explains Haryana's reform strategy and how the adaptable program loan applies. Haryana's reform could have an important demonstration effect. 2012-08-13T15:22:35Z 2012-08-13T15:22:35Z 1998-05 http://documents.worldbank.org/curated/en/1998/05/693582/mitigating-risks-power-reform-new-world-bank-lending-approach-power-sector-reform-indian-state-haryana http://hdl.handle.net/10986/11552 English Viewpoint: Public Policy for the Private Sector; Note No. 142 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Viewpoint Publications & Research South Asia India
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	ACCOUNTABILITY ADAPTABLE PROGRAM LOANS ADJUSTMENT LOANS AGRICULTURE AUTHORITY BORROWER COMMERCIAL BANKS COMMITMENT COMMITMENTS COMPETITIVE BIDDING CONSENSUS CONSTITUENCIES CONSUMERS CREDITWORTHINESS DEBT DEBT SERVICE DISBURSEMENT ECONOMIC COOPERATION ELECTRICITY FINANCIAL RESTRUCTURING FINANCIAL VIABILITY INSTITUTIONAL DEVELOPMENT LICENSES LOAN LOAN STRUCTURE LOW TARIFFS MINISTERS PRIVATE SECTOR PRIVATIZATION PROJECT SPONSORS REGULATORY AGENCY REGULATORY MECHANISM REHABILITATION RESIDENTIAL CONSUMERS REVENUE COLLECTION STATE BUDGET STATE GOVERNMENT TECHNICAL ASSISTANCE UTILITIES VALUATION WORLD BANK LENDING WORLD BANK LOANS POWER SECTOR REFORM LENDING INSTRUMENTS RISK ASSESSMENT INVESTMENT LOANS LONG TERM LOANS ADJUSTMENT LOANS
spellingShingle	ACCOUNTABILITY ADAPTABLE PROGRAM LOANS ADJUSTMENT LOANS AGRICULTURE AUTHORITY BORROWER COMMERCIAL BANKS COMMITMENT COMMITMENTS COMPETITIVE BIDDING CONSENSUS CONSTITUENCIES CONSUMERS CREDITWORTHINESS DEBT DEBT SERVICE DISBURSEMENT ECONOMIC COOPERATION ELECTRICITY FINANCIAL RESTRUCTURING FINANCIAL VIABILITY INSTITUTIONAL DEVELOPMENT LICENSES LOAN LOAN STRUCTURE LOW TARIFFS MINISTERS PRIVATE SECTOR PRIVATIZATION PROJECT SPONSORS REGULATORY AGENCY REGULATORY MECHANISM REHABILITATION RESIDENTIAL CONSUMERS REVENUE COLLECTION STATE BUDGET STATE GOVERNMENT TECHNICAL ASSISTANCE UTILITIES VALUATION WORLD BANK LENDING WORLD BANK LOANS POWER SECTOR REFORM LENDING INSTRUMENTS RISK ASSESSMENT INVESTMENT LOANS LONG TERM LOANS ADJUSTMENT LOANS Mostefai, Djamal Mitigating Risks in Power Reform : A New World Bank Lending Approach - Power Sector Reform in the Indian State of Haryana
geographic_facet	South Asia India
relation	Viewpoint: Public Policy for the Private Sector; Note No. 142
description	The World Bank has agreed to support power sector reforms in Haryana with a new type of lending instrument--the adaptable program loan--recently approved by its board of directors. Under this approach, being applied for the first time, the Bank will provide a series of loans totaling US$600 million over eight to ten years, but will commit the loans only when the state government has reached agreed milestones. This approach allows the state government milestones--not the covenants of standard World Bank loans --to determine the timing of controversial actions. The flexibility is intended to improve the reform program's chances of success and avoid the stop-start lending pattern that has characterized the Bank's past lending to state electricity boards. This Note explains Haryana's reform strategy and how the adaptable program loan applies. Haryana's reform could have an important demonstration effect.
format	Publications & Research :: Viewpoint
author	Mostefai, Djamal
author_facet	Mostefai, Djamal
author_sort	Mostefai, Djamal
title	Mitigating Risks in Power Reform : A New World Bank Lending Approach - Power Sector Reform in the Indian State of Haryana
title_short	Mitigating Risks in Power Reform : A New World Bank Lending Approach - Power Sector Reform in the Indian State of Haryana
title_full	Mitigating Risks in Power Reform : A New World Bank Lending Approach - Power Sector Reform in the Indian State of Haryana
title_fullStr	Mitigating Risks in Power Reform : A New World Bank Lending Approach - Power Sector Reform in the Indian State of Haryana
title_full_unstemmed	Mitigating Risks in Power Reform : A New World Bank Lending Approach - Power Sector Reform in the Indian State of Haryana
title_sort	mitigating risks in power reform : a new world bank lending approach - power sector reform in the indian state of haryana
publisher	World Bank, Washington, DC
publishDate	2012
url	http://documents.worldbank.org/curated/en/1998/05/693582/mitigating-risks-power-reform-new-world-bank-lending-approach-power-sector-reform-indian-state-haryana http://hdl.handle.net/10986/11552
_version_	1764417146069188608

Mitigating Risks in Power Reform : A New World Bank Lending Approach - Power Sector Reform in the Indian State of Haryana

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