Resource Financed Infrastructure : A Discussion on a New Form of Infrastructure Financing
This report, consisting of a study prepared by global project finance specialists Hunton and Williams LLP and comments from six internationally reputed economists and policy makers, provides an analytical discussion of resource financed infrastruct...
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| Language: | English en_US |
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Washington, DC: World Bank
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2014/05/19628443/resource-financed-infrastructure-discussion-new-form-infrastructure-financing http://hdl.handle.net/10986/18554 |
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okr-10986-18554 |
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oai_dc |
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Digital Repository |
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Foreign Institution |
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Digital Repositories |
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World Bank Open Knowledge Repository |
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World Bank |
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English en_US |
| topic |
ACCESS TO CAPITAL AFFORDABILITY AIRPORT BALANCE SHEET BALANCE SHEETS BANK BORROWING BANK DEBT BANK LENDING BANKRUPTCY BANKS BARTER BID BIDS BOARDS OF DIRECTORS BORROWING COST BORROWINGS BRIBES CAPITAL COSTS CAPITAL INVESTMENTS CAPITAL MARKETS CASH FLOW CASH FLOWS CC COLLATERAL COLLATERALIZATION COMMODITY PRICES COMPETITIVE TENDER CONTRACT RIGHTS CONVENTIONAL BANK CORRUPTION CREDIT FACILITY CREDIT MARKET CREDITOR CREDITS CREDITWORTHINESS CURRENCY CURRENCY MISMATCH DEBT DEBT SERVICE DEBT SERVICING DEPOSIT DEVELOPING COUNTRIES DEVELOPMENT ASSISTANCE DEVELOPMENT BANK DEVELOPMENT COMPANY DEVELOPMENT FINANCE DISBURSEMENTS DIVERSIFICATION DIVIDENDS PAYABLE DOMESTIC CURRENCY DOWN PAYMENT ECONOMIC DEVELOPMENT ECONOMIC GROWTH ELECTRICITY EMERGING MARKET EMERGING MARKET ECONOMIES EMPLOYMENT EQUIPMENT EQUITY CONTRIBUTION EQUITY HOLDING EQUITY INVESTMENT EQUITY INVESTMENTS EQUITY INVESTOR EQUITY INVESTORS EQUITY RETURN EXCHANGE RATE FINANCE INFRASTRUCTURE FINANCES FINANCIAL CRISIS FINANCIAL MANAGEMENT FINANCIAL SKILLS FINANCING OF INFRASTRUCTURE FOREIGN DIRECT INVESTMENT FOREIGN INVESTMENT FOREIGN INVESTORS FOREIGN MARKETS FUNDING SOURCES GLOBAL FINANCE GLOBAL MARKETS GOVERNMENT CREDIT GOVERNMENT DEBT GOVERNMENT FINANCES GOVERNMENT GRANTS GOVERNMENT GUARANTEE GOVERNMENT INVOLVEMENT GOVERNMENT OWNERSHIP GOVERNMENT REVENUE GOVERNMENT REVENUES GOVERNMENT SUPPORT GRACE PERIOD GROSS DOMESTIC PRODUCT HOST COUNTRIES HOST GOVERNMENT HOST GOVERNMENTS INCOME TAXES INFRASTRUCTURE COSTS INFRASTRUCTURE DELIVERY INFRASTRUCTURE DEVELOPMENT INFRASTRUCTURE FINANCE INFRASTRUCTURE FINANCING INFRASTRUCTURE INVESTMENT INFRASTRUCTURE INVESTMENTS INFRASTRUCTURE LOANS INFRASTRUCTURE PROJECTS INITIAL INVESTMENT INITIAL INVESTMENTS INSTRUMENT INTEREST RATE INTERNATIONAL BANK INTERNATIONAL DEVELOPMENT INTERNATIONAL FINANCE INVESTMENT POLICY INVESTOR INTEREST ISSUANCE ISSUANCE OF BONDS LACK OF TRANSPARENCY LAWS LEGAL CONSTRAINTS LEGISLATION LENDER LENDERS LEVEL OF RISK LICENSES LOAN LOAN AGREEMENT LOAN AGREEMENTS LOAN FACILITY LONG-TERM FINANCE MARKET CONDITIONS MARKET DESIGN MARKET RISKS MDB MONETARY FUND NATIONAL BUDGET NATIONAL TREASURY NATURAL RESOURCES NEGATIVE PLEDGE CLAUSES NEW BUSINESSES NONPAYMENT O&M OPERATIONAL RISKS OWNERSHIP INTEREST PARTIAL RISK PLEDGES POLITICAL RISK PORT FACILITIES PRESENT VALUE PRIVATE CAPITAL PRIVATE INVESTOR PRIVATE SECTOR PRIVATE SECTOR PARTICIPATION PROVISIONS PUBLIC PUBLIC INFORMATION PUBLIC INFRASTRUCTURE PUBLIC PARTNERSHIP PUBLIC POLICY PUBLIC PROCUREMENT PUBLIC PROCUREMENT LAW PUBLIC SERVICE PUBLIC SERVICES PUBLIC SPENDING PUBLIC-PRIVATE PARTNERSHIP PUBLIC-PRIVATE PARTNERSHIPS RAIL RAIL LINES RAILWAYS RATE OF RETURN RECEIPTS REGULATORY FRAMEWORKS REGULATORY OVERSIGHT RENEGOTIATION REPAYMENT RETAINED EARNINGS RETURN ON INVESTMENT RETURNS REVENUE MANAGEMENT ROADS SETTLEMENT SOURCES OF FINANCE SOVEREIGN DEBT SOVEREIGN DEBTS SWAPS TAX TAX REVENUES TELECOMMUNICATIONS TRANSACTION TRANSPARENCY TRANSPORT TRUSTEE UTILITIES VALUATION VEHICLE WATER SUPPLY WEALTH |
| spellingShingle |
ACCESS TO CAPITAL AFFORDABILITY AIRPORT BALANCE SHEET BALANCE SHEETS BANK BORROWING BANK DEBT BANK LENDING BANKRUPTCY BANKS BARTER BID BIDS BOARDS OF DIRECTORS BORROWING COST BORROWINGS BRIBES CAPITAL COSTS CAPITAL INVESTMENTS CAPITAL MARKETS CASH FLOW CASH FLOWS CC COLLATERAL COLLATERALIZATION COMMODITY PRICES COMPETITIVE TENDER CONTRACT RIGHTS CONVENTIONAL BANK CORRUPTION CREDIT FACILITY CREDIT MARKET CREDITOR CREDITS CREDITWORTHINESS CURRENCY CURRENCY MISMATCH DEBT DEBT SERVICE DEBT SERVICING DEPOSIT DEVELOPING COUNTRIES DEVELOPMENT ASSISTANCE DEVELOPMENT BANK DEVELOPMENT COMPANY DEVELOPMENT FINANCE DISBURSEMENTS DIVERSIFICATION DIVIDENDS PAYABLE DOMESTIC CURRENCY DOWN PAYMENT ECONOMIC DEVELOPMENT ECONOMIC GROWTH ELECTRICITY EMERGING MARKET EMERGING MARKET ECONOMIES EMPLOYMENT EQUIPMENT EQUITY CONTRIBUTION EQUITY HOLDING EQUITY INVESTMENT EQUITY INVESTMENTS EQUITY INVESTOR EQUITY INVESTORS EQUITY RETURN EXCHANGE RATE FINANCE INFRASTRUCTURE FINANCES FINANCIAL CRISIS FINANCIAL MANAGEMENT FINANCIAL SKILLS FINANCING OF INFRASTRUCTURE FOREIGN DIRECT INVESTMENT FOREIGN INVESTMENT FOREIGN INVESTORS FOREIGN MARKETS FUNDING SOURCES GLOBAL FINANCE GLOBAL MARKETS GOVERNMENT CREDIT GOVERNMENT DEBT GOVERNMENT FINANCES GOVERNMENT GRANTS GOVERNMENT GUARANTEE GOVERNMENT INVOLVEMENT GOVERNMENT OWNERSHIP GOVERNMENT REVENUE GOVERNMENT REVENUES GOVERNMENT SUPPORT GRACE PERIOD GROSS DOMESTIC PRODUCT HOST COUNTRIES HOST GOVERNMENT HOST GOVERNMENTS INCOME TAXES INFRASTRUCTURE COSTS INFRASTRUCTURE DELIVERY INFRASTRUCTURE DEVELOPMENT INFRASTRUCTURE FINANCE INFRASTRUCTURE FINANCING INFRASTRUCTURE INVESTMENT INFRASTRUCTURE INVESTMENTS INFRASTRUCTURE LOANS INFRASTRUCTURE PROJECTS INITIAL INVESTMENT INITIAL INVESTMENTS INSTRUMENT INTEREST RATE INTERNATIONAL BANK INTERNATIONAL DEVELOPMENT INTERNATIONAL FINANCE INVESTMENT POLICY INVESTOR INTEREST ISSUANCE ISSUANCE OF BONDS LACK OF TRANSPARENCY LAWS LEGAL CONSTRAINTS LEGISLATION LENDER LENDERS LEVEL OF RISK LICENSES LOAN LOAN AGREEMENT LOAN AGREEMENTS LOAN FACILITY LONG-TERM FINANCE MARKET CONDITIONS MARKET DESIGN MARKET RISKS MDB MONETARY FUND NATIONAL BUDGET NATIONAL TREASURY NATURAL RESOURCES NEGATIVE PLEDGE CLAUSES NEW BUSINESSES NONPAYMENT O&M OPERATIONAL RISKS OWNERSHIP INTEREST PARTIAL RISK PLEDGES POLITICAL RISK PORT FACILITIES PRESENT VALUE PRIVATE CAPITAL PRIVATE INVESTOR PRIVATE SECTOR PRIVATE SECTOR PARTICIPATION PROVISIONS PUBLIC PUBLIC INFORMATION PUBLIC INFRASTRUCTURE PUBLIC PARTNERSHIP PUBLIC POLICY PUBLIC PROCUREMENT PUBLIC PROCUREMENT LAW PUBLIC SERVICE PUBLIC SERVICES PUBLIC SPENDING PUBLIC-PRIVATE PARTNERSHIP PUBLIC-PRIVATE PARTNERSHIPS RAIL RAIL LINES RAILWAYS RATE OF RETURN RECEIPTS REGULATORY FRAMEWORKS REGULATORY OVERSIGHT RENEGOTIATION REPAYMENT RETAINED EARNINGS RETURN ON INVESTMENT RETURNS REVENUE MANAGEMENT ROADS SETTLEMENT SOURCES OF FINANCE SOVEREIGN DEBT SOVEREIGN DEBTS SWAPS TAX TAX REVENUES TELECOMMUNICATIONS TRANSACTION TRANSPARENCY TRANSPORT TRUSTEE UTILITIES VALUATION VEHICLE WATER SUPPLY WEALTH Halland, Havard Beardsworth, John Land, Bryan Schmidt, James Resource Financed Infrastructure : A Discussion on a New Form of Infrastructure Financing |
| relation |
World Bank Sudy; |
| description |
This report, consisting of a study
prepared by global project finance specialists Hunton and
Williams LLP and comments from six internationally reputed
economists and policy makers, provides an analytical
discussion of resource financed infrastructure (RFI)
contracting from a project finance perspective. The report
is meant as a forum for in-depth discussion and as a basis
for further research into RFI's role, risks, and
potential, without any intention to present a World Bank,
supported view on RFI contracting. It is motivated by the
conviction that if countries are to continue to either seeks
RFI or receive unsolicited RFI proposals, there is an onus
on public officials to discern bad deals from good, to judge
unavoidable trade-offs, and to act accordingly. The report
aims to provide a basis for developing insights on how RFI
deals can be made subject to the same degree of public
policy scrutiny as any other instrument through which a
government of a low or lower-middle-income country might
seek to mobilize development finance. The report also feeds
into the global mainstreaming of 'open
contracting,' providing citizens with the means to
engage with governments and other stakeholders on how
nonrenewable resources are best managed for the public
benefit. In the case of RFI, there is a very direct link
made between the value of resources in the ground and the
development of (infrastructure) benefits. It should not be a
surprise, therefore, that the revised Extractive Industries
Transparency Initiative (EITI) Standard, adopted in May
2013, addresses extractive transactions with an
infrastructure component, including RFI. |
| format |
Publications & Research :: Publication |
| author |
Halland, Havard Beardsworth, John Land, Bryan Schmidt, James |
| author_facet |
Halland, Havard Beardsworth, John Land, Bryan Schmidt, James |
| author_sort |
Halland, Havard |
| title |
Resource Financed Infrastructure : A Discussion on a New Form of Infrastructure Financing |
| title_short |
Resource Financed Infrastructure : A Discussion on a New Form of Infrastructure Financing |
| title_full |
Resource Financed Infrastructure : A Discussion on a New Form of Infrastructure Financing |
| title_fullStr |
Resource Financed Infrastructure : A Discussion on a New Form of Infrastructure Financing |
| title_full_unstemmed |
Resource Financed Infrastructure : A Discussion on a New Form of Infrastructure Financing |
| title_sort |
resource financed infrastructure : a discussion on a new form of infrastructure financing |
| publisher |
Washington, DC: World Bank |
| publishDate |
2014 |
| url |
http://documents.worldbank.org/curated/en/2014/05/19628443/resource-financed-infrastructure-discussion-new-form-infrastructure-financing http://hdl.handle.net/10986/18554 |
| _version_ |
1764442456078680064 |
| spelling |
okr-10986-185542021-04-23T14:03:48Z Resource Financed Infrastructure : A Discussion on a New Form of Infrastructure Financing Halland, Havard Beardsworth, John Land, Bryan Schmidt, James ACCESS TO CAPITAL AFFORDABILITY AIRPORT BALANCE SHEET BALANCE SHEETS BANK BORROWING BANK DEBT BANK LENDING BANKRUPTCY BANKS BARTER BID BIDS BOARDS OF DIRECTORS BORROWING COST BORROWINGS BRIBES CAPITAL COSTS CAPITAL INVESTMENTS CAPITAL MARKETS CASH FLOW CASH FLOWS CC COLLATERAL COLLATERALIZATION COMMODITY PRICES COMPETITIVE TENDER CONTRACT RIGHTS CONVENTIONAL BANK CORRUPTION CREDIT FACILITY CREDIT MARKET CREDITOR CREDITS CREDITWORTHINESS CURRENCY CURRENCY MISMATCH DEBT DEBT SERVICE DEBT SERVICING DEPOSIT DEVELOPING COUNTRIES DEVELOPMENT ASSISTANCE DEVELOPMENT BANK DEVELOPMENT COMPANY DEVELOPMENT FINANCE DISBURSEMENTS DIVERSIFICATION DIVIDENDS PAYABLE DOMESTIC CURRENCY DOWN PAYMENT ECONOMIC DEVELOPMENT ECONOMIC GROWTH ELECTRICITY EMERGING MARKET EMERGING MARKET ECONOMIES EMPLOYMENT EQUIPMENT EQUITY CONTRIBUTION EQUITY HOLDING EQUITY INVESTMENT EQUITY INVESTMENTS EQUITY INVESTOR EQUITY INVESTORS EQUITY RETURN EXCHANGE RATE FINANCE INFRASTRUCTURE FINANCES FINANCIAL CRISIS FINANCIAL MANAGEMENT FINANCIAL SKILLS FINANCING OF INFRASTRUCTURE FOREIGN DIRECT INVESTMENT FOREIGN INVESTMENT FOREIGN INVESTORS FOREIGN MARKETS FUNDING SOURCES GLOBAL FINANCE GLOBAL MARKETS GOVERNMENT CREDIT GOVERNMENT DEBT GOVERNMENT FINANCES GOVERNMENT GRANTS GOVERNMENT GUARANTEE GOVERNMENT INVOLVEMENT GOVERNMENT OWNERSHIP GOVERNMENT REVENUE GOVERNMENT REVENUES GOVERNMENT SUPPORT GRACE PERIOD GROSS DOMESTIC PRODUCT HOST COUNTRIES HOST GOVERNMENT HOST GOVERNMENTS INCOME TAXES INFRASTRUCTURE COSTS INFRASTRUCTURE DELIVERY INFRASTRUCTURE DEVELOPMENT INFRASTRUCTURE FINANCE INFRASTRUCTURE FINANCING INFRASTRUCTURE INVESTMENT INFRASTRUCTURE INVESTMENTS INFRASTRUCTURE LOANS INFRASTRUCTURE PROJECTS INITIAL INVESTMENT INITIAL INVESTMENTS INSTRUMENT INTEREST RATE INTERNATIONAL BANK INTERNATIONAL DEVELOPMENT INTERNATIONAL FINANCE INVESTMENT POLICY INVESTOR INTEREST ISSUANCE ISSUANCE OF BONDS LACK OF TRANSPARENCY LAWS LEGAL CONSTRAINTS LEGISLATION LENDER LENDERS LEVEL OF RISK LICENSES LOAN LOAN AGREEMENT LOAN AGREEMENTS LOAN FACILITY LONG-TERM FINANCE MARKET CONDITIONS MARKET DESIGN MARKET RISKS MDB MONETARY FUND NATIONAL BUDGET NATIONAL TREASURY NATURAL RESOURCES NEGATIVE PLEDGE CLAUSES NEW BUSINESSES NONPAYMENT O&M OPERATIONAL RISKS OWNERSHIP INTEREST PARTIAL RISK PLEDGES POLITICAL RISK PORT FACILITIES PRESENT VALUE PRIVATE CAPITAL PRIVATE INVESTOR PRIVATE SECTOR PRIVATE SECTOR PARTICIPATION PROVISIONS PUBLIC PUBLIC INFORMATION PUBLIC INFRASTRUCTURE PUBLIC PARTNERSHIP PUBLIC POLICY PUBLIC PROCUREMENT PUBLIC PROCUREMENT LAW PUBLIC SERVICE PUBLIC SERVICES PUBLIC SPENDING PUBLIC-PRIVATE PARTNERSHIP PUBLIC-PRIVATE PARTNERSHIPS RAIL RAIL LINES RAILWAYS RATE OF RETURN RECEIPTS REGULATORY FRAMEWORKS REGULATORY OVERSIGHT RENEGOTIATION REPAYMENT RETAINED EARNINGS RETURN ON INVESTMENT RETURNS REVENUE MANAGEMENT ROADS SETTLEMENT SOURCES OF FINANCE SOVEREIGN DEBT SOVEREIGN DEBTS SWAPS TAX TAX REVENUES TELECOMMUNICATIONS TRANSACTION TRANSPARENCY TRANSPORT TRUSTEE UTILITIES VALUATION VEHICLE WATER SUPPLY WEALTH This report, consisting of a study prepared by global project finance specialists Hunton and Williams LLP and comments from six internationally reputed economists and policy makers, provides an analytical discussion of resource financed infrastructure (RFI) contracting from a project finance perspective. The report is meant as a forum for in-depth discussion and as a basis for further research into RFI's role, risks, and potential, without any intention to present a World Bank, supported view on RFI contracting. It is motivated by the conviction that if countries are to continue to either seeks RFI or receive unsolicited RFI proposals, there is an onus on public officials to discern bad deals from good, to judge unavoidable trade-offs, and to act accordingly. The report aims to provide a basis for developing insights on how RFI deals can be made subject to the same degree of public policy scrutiny as any other instrument through which a government of a low or lower-middle-income country might seek to mobilize development finance. The report also feeds into the global mainstreaming of 'open contracting,' providing citizens with the means to engage with governments and other stakeholders on how nonrenewable resources are best managed for the public benefit. In the case of RFI, there is a very direct link made between the value of resources in the ground and the development of (infrastructure) benefits. It should not be a surprise, therefore, that the revised Extractive Industries Transparency Initiative (EITI) Standard, adopted in May 2013, addresses extractive transactions with an infrastructure component, including RFI. 2014-06-09T19:35:51Z 2014-06-09T19:35:51Z 2014-05-29 http://documents.worldbank.org/curated/en/2014/05/19628443/resource-financed-infrastructure-discussion-new-form-infrastructure-financing 978-1-4648-0239-3 10.1596/978-1-4648-0239-3 http://hdl.handle.net/10986/18554 English en_US World Bank Sudy; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ Washington, DC: World Bank Publications & Research :: Publication |