The document provides information about Frontier Markets Fund Managers (FMFM) and the funds it manages. FMFM manages the Emerging Africa Infrastructure Fund (EAIF) and GuarantCo funds. EAIF has committed US$944 million to 52 infrastructure projects across sectors like power, transport and telecoms in Africa. GuarantCo provides credit guarantees to encourage local currency private infrastructure financing in developing countries.
The document provides information on 38 infrastructure projects in Africa financed by the Emerging Africa Infrastructure Fund totaling US$755 million. It includes a portfolio of projects involving external delivery of power/energy and projects that have been refinanced or repaid. Brief summaries are provided for several sample projects financing power generation, transmission and distribution across various African countries between 2003-2012.
The document discusses the assets, capital structure, and risks associated with the Asia-Japan Cable (AJC) telecommunications project.
The key assets are a 12,500 km fiber optic cable, repeaters, transmission equipment, and landing stations. Capital will come from sponsors and banks, with high financial leverage of 85%.
Potential problems that could prevent investors earning a return include technology risks, completion delays, political risks, market risks, and operational risks.
The project company should be structured to mitigate these risks. A recommended structure includes four sponsors - Telstra, Japan Telecom, Teleglobe, and AT&T - for ownership. Project finance rather than corporate finance is advised for the capital structure
The document discusses financing options for a submarine cable project between Australia and Japan being undertaken by Telstra.
Some key points:
- The $520 million project involves building a 12,500km submarine cable with partners Telstra, Teleglobe, and Japan Telecom.
- Project financing, using 15% equity and 85% debt, is proposed to limit Telstra's exposure, with the debt structured into Tranches A and B backed by presale capacity commitments.
- Other options considered include full corporate financing by Telstra or a smaller number of sponsors, but these involve higher risk of excess capacity and fast price erosion.
- The project faces risks from price declines, construction delays
Thiet ke Bao cao thuong nien - Vina 2008 (vnl)Viết Nội Dung
This document is the annual report of VinaLand Limited (VNL) for 2008. It provides an overview of VNL, discusses the state of Vietnam's economy in 2008, and the investment environment for real estate. Vietnam's economy grew rapidly in 2007 but experienced high inflation, requiring government intervention to slow growth. The real estate market saw price declines in the first half of 2008 due to credit tightening. However, demand remained for office and retail space, and future growth is expected to continue driving real estate sector development.
Bruno Gremez / Samir Kasmi Presentation at the TXF Dubai conferenceSamir Kasmi
This document provides a case study of Qaiwan Group, a privately owned conglomerate in Iraqi Kurdistan that has grown across multiple sectors over 20 years. It details Qaiwan's development of a 750 MW power plant project and the challenges in raising long-term financing from Export Credit Agencies (ECAs) due to Iraq's risks. Through an innovative approach working with ECAs and banks, Qaiwan was able to secure $105 million in senior unsecured financing including an ECA-backed loan to complete the power plant project.
TXF 2016 Conference: joint presentation by Bruno Gremez and Samir Kasmi of CT...Bruno Gremez
Joint presentation by Bruno Gremez and Samir Kasmi of CT&F and by Deutsche Bank of the challenges of raising capital to finance a greenfield gas-fired power plant project in Iraqi Kurdistan, developed by privately-owned group Qaiwan.
Future Strategies Inc., is pleased to announce the Gold and Silver Winners for the 2010 Global Awards for Excellence in Business Process Management and Workflow.
Co-sponsored by WfMC and BPM.com and now in their 18th year, these prestigious awards recognize user organizations that have demonstrably excelled in implementing innovative business process solutions to meet strategic business objectives. There are five geographical regions. Each region receives Gold and Silver Awards.
InfraCo is an infrastructure project developer owned by donor governments that is working on renewable energy projects in sub-Saharan Africa. It has developed the first wind power public-private partnership in sub-Saharan Africa and is working on additional wind, hydro, and solar-diesel projects. However, targeted subsidies, feed-in tariffs, and development finance institutions willing to take risks are still needed to further trigger renewable projects. Renewable projects also require patient capital to succeed.
The document provides information on 38 infrastructure projects in Africa financed by the Emerging Africa Infrastructure Fund totaling US$755 million. It includes a portfolio of projects involving external delivery of power/energy and projects that have been refinanced or repaid. Brief summaries are provided for several sample projects financing power generation, transmission and distribution across various African countries between 2003-2012.
The document discusses the assets, capital structure, and risks associated with the Asia-Japan Cable (AJC) telecommunications project.
The key assets are a 12,500 km fiber optic cable, repeaters, transmission equipment, and landing stations. Capital will come from sponsors and banks, with high financial leverage of 85%.
Potential problems that could prevent investors earning a return include technology risks, completion delays, political risks, market risks, and operational risks.
The project company should be structured to mitigate these risks. A recommended structure includes four sponsors - Telstra, Japan Telecom, Teleglobe, and AT&T - for ownership. Project finance rather than corporate finance is advised for the capital structure
The document discusses financing options for a submarine cable project between Australia and Japan being undertaken by Telstra.
Some key points:
- The $520 million project involves building a 12,500km submarine cable with partners Telstra, Teleglobe, and Japan Telecom.
- Project financing, using 15% equity and 85% debt, is proposed to limit Telstra's exposure, with the debt structured into Tranches A and B backed by presale capacity commitments.
- Other options considered include full corporate financing by Telstra or a smaller number of sponsors, but these involve higher risk of excess capacity and fast price erosion.
- The project faces risks from price declines, construction delays
Thiet ke Bao cao thuong nien - Vina 2008 (vnl)Viết Nội Dung
This document is the annual report of VinaLand Limited (VNL) for 2008. It provides an overview of VNL, discusses the state of Vietnam's economy in 2008, and the investment environment for real estate. Vietnam's economy grew rapidly in 2007 but experienced high inflation, requiring government intervention to slow growth. The real estate market saw price declines in the first half of 2008 due to credit tightening. However, demand remained for office and retail space, and future growth is expected to continue driving real estate sector development.
Bruno Gremez / Samir Kasmi Presentation at the TXF Dubai conferenceSamir Kasmi
This document provides a case study of Qaiwan Group, a privately owned conglomerate in Iraqi Kurdistan that has grown across multiple sectors over 20 years. It details Qaiwan's development of a 750 MW power plant project and the challenges in raising long-term financing from Export Credit Agencies (ECAs) due to Iraq's risks. Through an innovative approach working with ECAs and banks, Qaiwan was able to secure $105 million in senior unsecured financing including an ECA-backed loan to complete the power plant project.
TXF 2016 Conference: joint presentation by Bruno Gremez and Samir Kasmi of CT...Bruno Gremez
Joint presentation by Bruno Gremez and Samir Kasmi of CT&F and by Deutsche Bank of the challenges of raising capital to finance a greenfield gas-fired power plant project in Iraqi Kurdistan, developed by privately-owned group Qaiwan.
Future Strategies Inc., is pleased to announce the Gold and Silver Winners for the 2010 Global Awards for Excellence in Business Process Management and Workflow.
Co-sponsored by WfMC and BPM.com and now in their 18th year, these prestigious awards recognize user organizations that have demonstrably excelled in implementing innovative business process solutions to meet strategic business objectives. There are five geographical regions. Each region receives Gold and Silver Awards.
InfraCo is an infrastructure project developer owned by donor governments that is working on renewable energy projects in sub-Saharan Africa. It has developed the first wind power public-private partnership in sub-Saharan Africa and is working on additional wind, hydro, and solar-diesel projects. However, targeted subsidies, feed-in tariffs, and development finance institutions willing to take risks are still needed to further trigger renewable projects. Renewable projects also require patient capital to succeed.
This presentation was held during the 5th GIB Summit, May 27-28 2015.
The presentation and more information on the Global Infrastructure Basel Foundation are available on www.gib-foundation.org
The document discusses Frontier Markets Fund Managers (FMFM), which manages the Emerging Africa Infrastructure Fund (EAIF) and GuarantCo funds. FMFM has committed US$1 billion to 54 infrastructure projects across Africa. EAIF is a US$700 million fund that has financed 38 projects, while GuarantCo uses US$100 million in capital to provide credit guarantees for local currency debt issuances for infrastructure projects. The document outlines the investment policies and portfolios of the two funds and discusses some of the challenges around financing different types of infrastructure projects in Africa.
The PIDG is a consortium of nine donor organizations that facilitates private sector investment in infrastructure projects in developing countries. It has mobilized $22 billion in private financing for over 80 projects, providing access to infrastructure for 160 million people. Examples of PIDG projects include a methane gas power project in Rwanda and a wind farm in Cape Verde. The PIDG uses facilities like the Emerging Africa Infrastructure Fund and InfraCo to develop and finance infrastructure projects.
The document summarizes the EBRD's involvement in Ukraine. It discusses that the EBRD has invested over 4.5 billion euros in 185 projects in Ukraine over the past 16 years, making it the largest financial investor in the country. It then provides details on some of the EBRD's municipal financing projects in 2009 that focused on transport infrastructure in Lviv and district heating in Ivano-Frankivsk. The document concludes by discussing the economic impact of the financial crisis in Ukraine and the steps that need to be taken, including recapitalizing banks and improving energy efficiency, and emphasizes the important role the EBRD can play in supporting Ukraine during this difficult time.
The document summarizes active business matches between Norwegian and South African companies from 2006-2009. Key points include 287 Norwegian SMEs exploring opportunities in South Africa through the program, with estimated job creation of 500-600 in South Africa. Successful matches led to partnerships in areas like wave monitoring, animation education, maritime electronics, specialized gear boxes, security equipment, fruit imports, game development, and oil and gas projects. Factors for successful partnerships included a good fit between partners and commitment to defined objectives.
- InduStreams helps identify relevant investors and strategic partners for infrastructure, port, and asset owners seeking funding.
- They have a large network of global investors, operators, and cargo owners as well as insight into the industries and communities.
- Their process involves understanding the client's situation/needs, engaging them through an agreement, and fast-tracking to find 3-5 high relevance investors/partners.
This document discusses the Chad-Cameroon Pipeline Project, including a description of the project, benefits to the parties involved, proposed financial structure, costs, and risks. It also examines the revenue management plan and whether it would be successful. As a World Bank/IFC board member, the author would approve the deal due to the IFC/World Bank's crucial involvement, but would recommend addressing serious concerns and introducing oversight and accountability measures.
The document discusses the African Development Bank Group's private sector operations in private equity funds. It provides background on AfDB's investments in private equity, which have totaled over $1 billion, with more than 60% invested indirectly through private equity funds. The document outlines AfDB's portfolio of investments in various private equity funds across African countries and sectors. It highlights several active private equity funds that AfDB has invested in, along with the objectives and benefits of each investment.
Foraco International 2008 Annual ReportTMX Equicom
2008 annual report for Foraco International (TSX: FAR). Foraco International SA (Foraco) is a drilling service provider with operations in 18 countries. The Company operates 115 drill rigs providing a range of drilling services to its customer base.
Korea Eximbank has extensive experience financing oil and gas projects globally and in Iran. It has provided over $11 billion for projects in the Middle East including $625 million for South Pars Phase 9 and 10 in Iran. The bank utilizes framework agreements and provides loans, guarantees, and financial advisory services to support sectors like oil and gas, infrastructure, and healthcare. It has worked with other export credit agencies on large projects and aims to be a total financial solutions provider for Korea-Iran economic partnerships.
This document provides examples of energy efficiency financing platforms and programs implemented by the International Finance Corporation (IFC). It summarizes several initiatives including:
1) Tata Cleantech Capital Ltd in India, a joint venture between Tata Capital and IFC that has invested $700 million in clean technology projects totaling $4.86 billion.
2) A utility-based energy efficiency program in China that partnered with local banks to provide $625 million in loans, reducing emissions by 19 million tons annually.
3) A risk-sharing facility with Bank of the Philippine Islands that enrolled $82 million in loans, broadening the bank's lending and reducing emissions by 1.9 million tons.
1) Project-based carbon emission reduction mechanisms have successfully attracted investment but have mostly benefited large standalone projects in advanced developing countries. Small-scale and dispersed emissions face high transaction costs.
2) There is uncertainty around the future of Kyoto-based project mechanisms in a post-Kyoto era, with potential scaling up or disappearance.
3) Looking ahead, there will be increased focus on sustainability, geographical distribution, and voluntary markets driven by consumer and CSR trends rather than policy.
This document presents a financing opportunity for a EUR 400 million Airport Departure Payments Financing Facility to fund Dakar's new international airport in Senegal. The new airport is a critical infrastructure project that will meet growing air traffic demands and boost Senegal's economy. It is being developed by reputable partners with experience in airport construction and management. The financing structure relies on established offshore cash flows from an airport charge collected since 2005, offering strong security for investors.
Christian del valle_redd_partnership_18_june_2011theREDDdesk
This document discusses a private sector investment of up to €250 million by BNP Paribas in REDD+ projects. It notes barriers to private sector investment in REDD+ like long timelines and risks. BNP Paribas seeks to deploy capital in REDD+ projects to test business models, provide price signals, and link local sustainability with global carbon goals. One example REDD+ project discussed avoids 48 million tons of CO2e over 30 years in Kenya through community led sustainable practices.
The document summarizes the objectives and ongoing projects of the Eastern Africa Power Pool (EAPP), which aims to facilitate power trading and development of electricity markets in Eastern Africa. Key points include:
1) EAPP objectives are to secure power supply, facilitate electricity market development, and optimize resource usage through socially and environmentally acceptable investments.
2) Ongoing projects supported by various organizations focus on developing frameworks, assessing market potential, and increasing generation and transmission infrastructure to enable regional power trade.
3) A regional master plan identifies generation and transmission projects over 25 years, and developed a common grid code to coordinate development across countries.
This document summarizes a presentation by Roland Janssens of Frontier Markets Fund Managers on financing ICT infrastructure. It provides an overview of FMFM's experience financing telecommunications and ICT projects in emerging markets. It discusses the types of telecom financings FMFM has conducted, including corporate financing, project financing, and mergers and acquisitions. It also outlines the various parties involved in telecom financings and different ways to categorize the telecom financing landscape, such as by company/project size, market attractiveness, and financing instruments.
The document provides an overview of the 5G enablers sector including key investment trends, notable companies, markets, and news. It summarizes that 5G aims to enable high speed data transmission to multiple users simultaneously with low latency. The sector includes companies providing technologies like software-defined networking and network function virtualization that can help commercialize 5G. Total funding to date is $4.6 billion across over 1,500 companies with notable companies including VMware, VeloCloud, and Arista.
This document discusses sourcing investors and strategic partners for infrastructure projects. It explains that InduStreams has a large network of investors, operators, and cargo owners as well as insight into both industries. InduStreams can identify the most relevant investors and executives for a project, introduce the proposition, and facilitate securing an agreement, typically through a three step process of understanding needs, engagement, and finding 3-5 high relevance investors or partners.
This presentation was held during the 5th GIB Summit, May 27-28 2015.
The presentation and more information on the Global Infrastructure Basel Foundation are available on www.gib-foundation.org
This presentation was held during the 5th GIB Summit, May 27-28 2015.
The presentation and more information on the Global Infrastructure Basel Foundation are available on www.gib-foundation.org
This presentation was held during the 5th GIB Summit, May 27-28 2015.
The presentation and more information on the Global Infrastructure Basel Foundation are available on www.gib-foundation.org
The document discusses Frontier Markets Fund Managers (FMFM), which manages the Emerging Africa Infrastructure Fund (EAIF) and GuarantCo funds. FMFM has committed US$1 billion to 54 infrastructure projects across Africa. EAIF is a US$700 million fund that has financed 38 projects, while GuarantCo uses US$100 million in capital to provide credit guarantees for local currency debt issuances for infrastructure projects. The document outlines the investment policies and portfolios of the two funds and discusses some of the challenges around financing different types of infrastructure projects in Africa.
The PIDG is a consortium of nine donor organizations that facilitates private sector investment in infrastructure projects in developing countries. It has mobilized $22 billion in private financing for over 80 projects, providing access to infrastructure for 160 million people. Examples of PIDG projects include a methane gas power project in Rwanda and a wind farm in Cape Verde. The PIDG uses facilities like the Emerging Africa Infrastructure Fund and InfraCo to develop and finance infrastructure projects.
The document summarizes the EBRD's involvement in Ukraine. It discusses that the EBRD has invested over 4.5 billion euros in 185 projects in Ukraine over the past 16 years, making it the largest financial investor in the country. It then provides details on some of the EBRD's municipal financing projects in 2009 that focused on transport infrastructure in Lviv and district heating in Ivano-Frankivsk. The document concludes by discussing the economic impact of the financial crisis in Ukraine and the steps that need to be taken, including recapitalizing banks and improving energy efficiency, and emphasizes the important role the EBRD can play in supporting Ukraine during this difficult time.
The document summarizes active business matches between Norwegian and South African companies from 2006-2009. Key points include 287 Norwegian SMEs exploring opportunities in South Africa through the program, with estimated job creation of 500-600 in South Africa. Successful matches led to partnerships in areas like wave monitoring, animation education, maritime electronics, specialized gear boxes, security equipment, fruit imports, game development, and oil and gas projects. Factors for successful partnerships included a good fit between partners and commitment to defined objectives.
- InduStreams helps identify relevant investors and strategic partners for infrastructure, port, and asset owners seeking funding.
- They have a large network of global investors, operators, and cargo owners as well as insight into the industries and communities.
- Their process involves understanding the client's situation/needs, engaging them through an agreement, and fast-tracking to find 3-5 high relevance investors/partners.
This document discusses the Chad-Cameroon Pipeline Project, including a description of the project, benefits to the parties involved, proposed financial structure, costs, and risks. It also examines the revenue management plan and whether it would be successful. As a World Bank/IFC board member, the author would approve the deal due to the IFC/World Bank's crucial involvement, but would recommend addressing serious concerns and introducing oversight and accountability measures.
The document discusses the African Development Bank Group's private sector operations in private equity funds. It provides background on AfDB's investments in private equity, which have totaled over $1 billion, with more than 60% invested indirectly through private equity funds. The document outlines AfDB's portfolio of investments in various private equity funds across African countries and sectors. It highlights several active private equity funds that AfDB has invested in, along with the objectives and benefits of each investment.
Foraco International 2008 Annual ReportTMX Equicom
2008 annual report for Foraco International (TSX: FAR). Foraco International SA (Foraco) is a drilling service provider with operations in 18 countries. The Company operates 115 drill rigs providing a range of drilling services to its customer base.
Korea Eximbank has extensive experience financing oil and gas projects globally and in Iran. It has provided over $11 billion for projects in the Middle East including $625 million for South Pars Phase 9 and 10 in Iran. The bank utilizes framework agreements and provides loans, guarantees, and financial advisory services to support sectors like oil and gas, infrastructure, and healthcare. It has worked with other export credit agencies on large projects and aims to be a total financial solutions provider for Korea-Iran economic partnerships.
This document provides examples of energy efficiency financing platforms and programs implemented by the International Finance Corporation (IFC). It summarizes several initiatives including:
1) Tata Cleantech Capital Ltd in India, a joint venture between Tata Capital and IFC that has invested $700 million in clean technology projects totaling $4.86 billion.
2) A utility-based energy efficiency program in China that partnered with local banks to provide $625 million in loans, reducing emissions by 19 million tons annually.
3) A risk-sharing facility with Bank of the Philippine Islands that enrolled $82 million in loans, broadening the bank's lending and reducing emissions by 1.9 million tons.
1) Project-based carbon emission reduction mechanisms have successfully attracted investment but have mostly benefited large standalone projects in advanced developing countries. Small-scale and dispersed emissions face high transaction costs.
2) There is uncertainty around the future of Kyoto-based project mechanisms in a post-Kyoto era, with potential scaling up or disappearance.
3) Looking ahead, there will be increased focus on sustainability, geographical distribution, and voluntary markets driven by consumer and CSR trends rather than policy.
This document presents a financing opportunity for a EUR 400 million Airport Departure Payments Financing Facility to fund Dakar's new international airport in Senegal. The new airport is a critical infrastructure project that will meet growing air traffic demands and boost Senegal's economy. It is being developed by reputable partners with experience in airport construction and management. The financing structure relies on established offshore cash flows from an airport charge collected since 2005, offering strong security for investors.
Christian del valle_redd_partnership_18_june_2011theREDDdesk
This document discusses a private sector investment of up to €250 million by BNP Paribas in REDD+ projects. It notes barriers to private sector investment in REDD+ like long timelines and risks. BNP Paribas seeks to deploy capital in REDD+ projects to test business models, provide price signals, and link local sustainability with global carbon goals. One example REDD+ project discussed avoids 48 million tons of CO2e over 30 years in Kenya through community led sustainable practices.
The document summarizes the objectives and ongoing projects of the Eastern Africa Power Pool (EAPP), which aims to facilitate power trading and development of electricity markets in Eastern Africa. Key points include:
1) EAPP objectives are to secure power supply, facilitate electricity market development, and optimize resource usage through socially and environmentally acceptable investments.
2) Ongoing projects supported by various organizations focus on developing frameworks, assessing market potential, and increasing generation and transmission infrastructure to enable regional power trade.
3) A regional master plan identifies generation and transmission projects over 25 years, and developed a common grid code to coordinate development across countries.
This document summarizes a presentation by Roland Janssens of Frontier Markets Fund Managers on financing ICT infrastructure. It provides an overview of FMFM's experience financing telecommunications and ICT projects in emerging markets. It discusses the types of telecom financings FMFM has conducted, including corporate financing, project financing, and mergers and acquisitions. It also outlines the various parties involved in telecom financings and different ways to categorize the telecom financing landscape, such as by company/project size, market attractiveness, and financing instruments.
The document provides an overview of the 5G enablers sector including key investment trends, notable companies, markets, and news. It summarizes that 5G aims to enable high speed data transmission to multiple users simultaneously with low latency. The sector includes companies providing technologies like software-defined networking and network function virtualization that can help commercialize 5G. Total funding to date is $4.6 billion across over 1,500 companies with notable companies including VMware, VeloCloud, and Arista.
This document discusses sourcing investors and strategic partners for infrastructure projects. It explains that InduStreams has a large network of investors, operators, and cargo owners as well as insight into both industries. InduStreams can identify the most relevant investors and executives for a project, introduce the proposition, and facilitate securing an agreement, typically through a three step process of understanding needs, engagement, and finding 3-5 high relevance investors or partners.
This presentation was held during the 5th GIB Summit, May 27-28 2015.
The presentation and more information on the Global Infrastructure Basel Foundation are available on www.gib-foundation.org
This presentation was held during the 5th GIB Summit, May 27-28 2015.
The presentation and more information on the Global Infrastructure Basel Foundation are available on www.gib-foundation.org
This presentation was held during the 5th GIB Summit, May 27-28 2015.
The presentation and more information on the Global Infrastructure Basel Foundation are available on www.gib-foundation.org
This presentation discusses the 2000-Watt Site certification process, which provides standards and labels for sustainable infrastructure development sites. The certification is derived from existing energy management systems used by over 1000 municipalities in Europe, including the European Energy Award. It establishes quantitative energy and emissions targets during planning and operation of development sites. Certification requires the municipality be certified under the Energy City program and the site meet size and use criteria. Sites are evaluated on energy use, emissions, construction, mobility and management systems to achieve 2000-Watt Site certification. The developer in the example site seeks the certification to meet stakeholder expectations and position as a leader in sustainable construction.
This presentation was held during the 5th GIB Summit, May 27-28 2015.
The presentation and more information on the Global Infrastructure Basel Foundation are available on www.gib-foundation.org
This presentation was held during the 5th GIB Summit, May 27-28 2015.
The presentation and more information on the Global Infrastructure Basel Foundation are available on www.gib-foundation.org
This document summarizes a presentation given at the 5th GIB Summit in May 2015 on the role of the public and private sectors in transit-oriented development. The presentation discusses how compact, mixed-use, transit-oriented development can help reduce transportation costs and emissions while improving economic growth by reducing infrastructure costs and encouraging more sustainable transportation options like walking, cycling, and public transit over private vehicle use.
This presentation was held during the 5th GIB Summit, May 27-28 2015.
The presentation and more information on the Global Infrastructure Basel Foundation are available on www.gib-foundation.org
This presentation took place at the 5th GIB Summit from May 27-28, 2015 in Basel. More information about the Global Infrastructure Basel Foundation and the next GIB Summit scheduled for May 24-25, 2016 in Basel can be found on their website at www.gib-foundation.org. The views expressed in the presentation are those of the authors and do not necessarily reflect the opinions of the Global Infrastructure Basel Foundation.
This presentation was held during the 5th GIB Summit, May 27-28 2015.
The presentation and more information on the Global Infrastructure Basel Foundation are available on www.gib-foundation.org
This presentation was held during the 5th GIB Summit, May 27-28 2015.
The presentation and more information on the Global Infrastructure Basel Foundation are available on www.gib-foundation.org
This presentation was held during the 5th GIB Summit, May 27-28 2015.
The presentation and more information on the Global Infrastructure Basel Foundation are available on www.gib-foundation.org
This presentation was held during the 5th GIB Summit, May 27-28 2015.
The presentation and more information on the Global Infrastructure Basel Foundation are available on www.gib-foundation.org
This presentation was held during the 5th GIB Summit, May 27-28 2015.
The presentation and more information on the Global Infrastructure Basel Foundation are available on www.gib-foundation.org
This presentation was held during the 5th GIB Summit, May 27-28 2015.
The presentation and more information on the Global Infrastructure Basel Foundation are available on www.gib-foundation.org
This presentation was held during the 5th GIB Summit, May 27-28 2015.
The presentation and more information on the Global Infrastructure Basel Foundation are available on www.gib-foundation.org
This presentation was held during the 5th GIB Summit, May 27-28 2015.
The presentation and more information on the Global Infrastructure Basel Foundation are available on www.gib-foundation.org
This presentation was held during the 5th GIB Summit, May 27-28 2015.
The presentation and more information on the Global Infrastructure Basel Foundation are available on www.gib-foundation.org
This presentation discusses economics of climate adaptation and was presented at the 5th GIB Summit on May 27-28, 2015. It outlines a methodology called Economics of Climate Adaptation to systematically assess total climate risk, identify cost-effective adaptation investments, and integrate adaptation with development. Case studies of locations like Hull, UK, New York City, and the US Gulf Coast are discussed. Public-private partnerships are highlighted as important to shape climate-resilient development. More information is available on the GIB Foundation website.
This presentation was held during the 5th GIB Summit, May 27-28 2015.
The presentation and more information on the Global Infrastructure Basel Foundation are available on www.gib-foundation.org
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Frontier Markets Fund Managers
1. Frontier Markets Fund
Managers
US$ 944 million committed to 52 projects
Roland Janssens, Director
1
2. Frontier Markets Fund Managers- FMFM
FMFM is the fund manager of
Emerging Africa Infrastructure Fund (EAIF); and
GuarantCo
The fund manager is owned by Standard Bank (70%), FMO (18%) and EMP
(12%)
The fund management team is based in London
2
3. EAIF & GuarantCo are part of the Private Infrastructure Development
Group – PIDG
UK; SWEDEN; NETHERLANDS; SWITZERLAND; GERMANY; AUSTRIA; IRELAND; WBG
PIDG Trust
EAIF GurantCo ICF TAF InfraCo DevCo
EAIF & GuarantCo
Management can finance projects
provides funding
agreement with developed by
along side
EAIF & GurantCo InfraCo & DevCo
3
4. Emerging Africa Infrastructure Fund - EAIF
First dedicated debt fund for sub-Saharan Africa (started in Jan.2002; 10 years old)
Current Size: US$ 710m
Shareholders: 4 European Governments (UK, Netherlands, Switzerland and
Sweden) - US$ 160m
Equity leveraged through a combination of Senior and Subordinated Debt from 7
DFIs (FMO, DBSA, KFW, DEG, IFC, AfDB and OeEB) and 2 commercial banks
(Standard Bank SA and Barclays)
Approval process takes between 8-12 weeks from the in principle approval to
Board approval
Operates on commercial basis
Financed 38 projects to date with a total exposure of US$ 758m
4
5. EAIF – investment policy
Lend to private sector owned, managed and controlled entities with infrastructure
sector focus
Power
Transport
Telecoms
Water
Manufacturers of components of infrastructure e.g. cement
Infrastructure within mining and agribusiness projects
Sub-Saharan Africa focus excluding Mauritius
Investment Size:US$10 – US$30 million
FMFM can arrange US$200 million and more through its financing partners
Tenor: up to 15 years
Instruments: Senior and Mezzanine Debt (possibly with equity features)
Does not require a Political Risk Insurance (PRI)
5
7. EAIF - selected transactions
Rabai African Foundries Limited - PARCO
Sector: Power Sector: Industrial goods
Country: Kenya Country: Nigeria
Description and Financing Parameters: Description and Financing Parameters:
EAIF was the lead arranger of Euro85 EAIF committed US$ 20m of senior debt
million facility for the Rabai Power Project to African Foundries Limited, Nigeria
in Kenya, developed by Aldwych The Debt package comprised of: (i) a 7¼-
International together with BWSC year DFI tranche, (ii) a 3 year Comercial
Debt package comprised of a Senior and Banks tranche and a working capital
Subordinated Debt. facility form Nigeria banks
Lender Group included, FMO, Proparco, The plant would be the only Nigerian
DEG and EAIF facility with the capability to produce
The project received Africa power deal of TMT rebars
the year awards from Project Finance
International and Project Finance
magazine
7
8. EAIF - selected transactions (continued)
Seacom MOMA
Sector: Telecom Sector: Mining
Country: Pan African Country: Mozambique
Description and Financing Parameters: Description and Financing Parameters:
The US$600m Seacom project is the The developers of this titanium
first undersea fiber optic cable project mineral sands project approached
along the east coast of Africa, the EAIF as a „lender of last resort‟.
only region in the world not currently
Located in one of the most under-
served by such an infrastructure
developed regions of Mozambique,
EAIF provided US$36.5m debt the US$413 million project is the
financing to a special purpose vehicle second lowest cost producer of
controlled by Industrial Promotion titanium in the world
Services (Kenya), one of the sponsors
and a subsidiary of the Aga Khan EAIF committed US$36.5 million of
Fund for Economic Development senior and subordinate debt (total
debt package of US$270 million)
The project received deal of the year
award from Project Finance The project received deal of the year
International awards from both the Mining Journal
and Project Finance International
publications
8
9. Pipeline: 26 additional NBC approve projects US$488 m
exposure
Sector Number Amount
of Projects US$ m
Agribusiness 4 72.5
Power 8 161.2
Telecoms 3 32.1
Transport 2 47.5
Water 1 28.3
Waste 1 20.0
Gas 2 21.0
Manufacturing 3 60.0
Mining 2 45.0
Total 26 487.6
9
10. Projects financed or in the process of financing by EAIF
10
11. EAIF Summary of transactions (2003-2008)
Jan 2003 Aug 2003 Oct 2004 Nov 2004 Nov 2004
MSI-Cellular / Celtel AES Sonel MOMA MTN Nigeria SPM Ghana
US$ 260 million EUR 240 million GBP 594 million US$ 200 million US$ 47.3 million
Expansion of a GSM network across Construction of an 85 MW HFO fired power Construction and operation of a Greenfield Corporate facility for the expansion of MTN’s Financing of a Single Point Mooring system
selected countries in Arica plant in Cameroon; in 2006 the facility was mineral sands project (ilmenite, rutile, zircon) GSM network in Nigeria and a conventional buoy mooring system in
increased to EUR 240 million and EAIF near Moma, northern Mozambique the waters outside Tema Port, Ghana
acted as a co-lender
US$ 30m EUR 24m US$ 5m - Senior Debt US$ 10m US$ 12m
Mezzanine debt facility Arranger –Senior Debt Facility US$ 24.5m - Mezz. Facility Senior Debt Facility Senior Debt Facility
September 2005 Feb 2007 February 2007 June 2007 Nov 2007
Obajana Cement Eleme Petrochemicals Celtel Nigeria Celtel Africa Seacom
US$ 798 million US$ 400 million US$ 190 million US$ 320 million US$ 600 million
Construction and commissioning of a Financing of a post privatisation turnaround Corporate facility for the expansion of Corporate facility for expansion of GSM Debt financing for equity participation of IPS
greenfield cement production plant with a program for a petrochemical plant in Nigeria Celltels GSM network in Nigeria network in 5 African countries Kenya (AKFED) in Seacom, the first submarine
capacity of 4.4 million tons per annum in fibre optics cable along the eastern coast of Africa
Nigeria
US$ 30m US$ 20m US$ 35m US$ 24m US$ 36.5m lender to IPS CSH
Senior Debt Facility Senior Debt facility Senior Debt Facility Senior Debt Facility for Seacom equity
Jan 2008 Mar 2008 May 2008 Sept 2008 September 2008
Orpower 4 Safal Investments Tronder Power Rabai Power Project SAEMS
US$ 180 million US$ 211 million US$ 56 million EUR 120 million US$ 85 million
Expansion of the Olkaria III Geothermal Construction of a 13 MW run of river hydro Construction of a 13 MW run of river hydro Construction of a 90 MW HFO fired power Corporate facility for a portfolio of 12 small
power project to 48 MW power plant in Uganda power plant in Uganda plant in Kenya hydro power plants in Sri Lanka and Uganda
US$ 15m US$ 15m - Senior Debt US$ 35m Senior Debt EUR 22.5m US$ 14m
Senior Debt Facility US$ 14m - Sub Debt Underwriter and Arranger Arranger –Senior Debt Facility Senior Debt Facility
39
11
12. EAIF Summary of transactions (2009-2011)
Jan 2009 February 2009 June 2009 October 2009 December 2009
SPA Maghreb Aldwych International Zain Ghana Bisha Mining Share Company Helios Towers Nigeria
US$ 24 million GBP 44 million US$ 523 million US$ 460 million US$ 250 million
Construction of green field steel pipe Round B equity and high yield debt financing Construction and operation of a greenfield Construction and operation of the first Corporate facility for the expansion of Helios’
manufacturing company in Algeria for start up power plant developer Aldwych mobile network in Ghana modern mine in Eritrea mining gold and tower network in Nigeria
International copper in Eritrea
US$ 17m EUR 6m - Senior debt US$ 17.5m US$ 25m US$ 19m
Senior Debt Facility US$$ 1m - Equity Senior Debt Facility – B Loan Mezzanine debt Senior Debt Facility
December 2009 July 2010 October 2010 November 2010 November 2010
African Foundries
Limited
African Foundries Limited ALAF Limited Tema Osonor Power Ltd DPW Dakar O3b Networks
US$ 130 million US$ 35 million US$ 128 million EUR 216 million US$ 1.2 billion
Construction of a 150MT p/a rolling mill that Construction of a Metal Coating and Roofing Construction of a 126MW gas
-fired power Upgrade & expansion of the container Orbit Satellites and ground facilities to
will produce TMT Rebars, Nigeria facility in Tanzania plant in Tema, Ghana terminal in the Port of Dakar, Senegal deliver fibre quality broad band
communications services to emerging
markets
US$ 20m US$ 5m US$ 15m EUR 12.5m US$ 12.5m Senior Debt
Senior Debt Facility Senior Debt Facility Co-Arranger –Senior Debt Facility Senior Debt Facility US$ 12.5m Sub Debt
June 2011 June 2011 August 2011 December 2011 December 2011
Tower Power Abeokuta Ltd Addax Bioenergy KivuWatt Ltd Helios Towers Tanzania Kalangala Infrastructure
US$ 21.3 million EUR 267 million US$ 140 million US$ 85 million US$ 54 million
Constriction of Greenfield 12.5MW gas fired The development of a 10,000ha sugarcane The development of an Integrated Methane Acquisition of >1000 telecom towers from Development of road, ferry, water supply and
combined cycle power plant in Nigeria plantation, an ethanol distillery producing Gas to Power Project in Rwanda utilizing Millicom Tanzania Ltd. Debt facility for power services for Kalangala District in
82,000 m3 of ethanol p.a. and a 32MW Lake Kivu’s unique methane gas resources. refurbisment and expansion of the tower Uganda
cogeneration power plant in Sierra Leone The project will consist of a Gas Extraction network
Facility plus a 25MW power plant
US$ 15m EUR 20m US$ 25m US$ 15m US$ 7m
Arranger –Senior Debt Facility Co-Arranger –Senior Debt Facility Co-Arranger –Senior Debt Facility Senior Debt Facility Senior Debt Facility
12
13. EAIF Summary of transactions (2012-)
January 2012
SAEMS II
US$ 30 million
Increase of the corporate facility to facilitate
the development of SAEMS’s 2 hydro
nd
power project in Uganda
US$ 6m
Senior Debt Facility
13
14. GuarantCo
GuarantCo‟s business is:
“Credit enhancement of local currency debt issuance by the private, municipal and
parastatal infrastructure sectors in lower income countries”
In addition to enabling infrastructure this approach also builds sustainable financing
capacity in domestic capital markets through partnering with local institutions and
introducing new approaches to project risk evaluation and financing
Initial capital of US$100m leveraged to US$200m by KFW and Barclays
Additional backing from KfW / Barclays up to total of US$400m
Covers similar infrastructure sectors to EAIF plus urban infrastructure
Can include refinancing to local currency
Operates globally
Financed 14 projects to date with a total exposure of US$ 185.5m
14
15. GuarantCo offers
Partial credit guarantee covering default risk on a portion of a loan or bond -
generally on demand and unconditional
Partial risk guarantee covering default risk due to specific events - such
construction failure or revenue shortfall
Cover for senior, mezzanine or sub debt; maturity, coupon or principal strips;
Loans, bonds or securitisation
Other methods of risk transference considered (e.g. insurance / reinsurance or
CDS / derivatives)
Preference for risk sharing - defined on a case-by-case basis
15
16. Case Study – Tower Aluminium Limited
Tower Aluminium Group Limited (“Tower”), the largest manufacturer of aluminium roofing
in West Africa
In late 2008 the Naira devalued by c 25% against the USD. Tower‟s revenues are mostly in
Naira and the impact of the devaluation was to significantly increase the cost of servicing its
USD financial liabilities.
Tower decided to refinance its USD liabilities by issuing a 7 year Naira denominated
corporate bond.
Tower was however unable to secure the “A” local rating required to be able to access local
pension funds. GuarantCo was able to use its local AAA rating in Nigeria to credit enhance
Tower‟s bond issue.
This was the first time such a structure had been used in Nigeria.
GuarantCo‟s support also stretched the tenor to 7 years from the typical 5 years for previous
corporate bonds.
Following a request for assistance, GuarantCo is also working with the Nigerian Securities &
Exchange Commission to set up training and mentoring of their staff.
16
19. Potential Transactions
Up to $15m partial guarantee for an integrated wood fuel manufacturing and power
generation project in Liberia
Guarantee of Thai Baht financing for biogas projects in Mekong region
Partial guarantee of $7m finance for a new private sector utility on Bugala Island,
Uganda
$17m partial guarantee for a new factory producing steel pipes for the water sector
in Algeria
Partial guarantee of a $22m broadband backbone service financing in Niger
$20m partial guarantee for a 128km gas pipeline in Nigeria
Credit enhancement of a $13m programme for financing sub-national providers of
water and waste water services in Kenya
19
20. Through PIDG we can provide grant funding to new projects
The grant funding supports the following activities
Infrastructure Development Strategies:
Studies intended to support go/no decision for new projects
Environmental Studies:
Studies intended to support the Project‟s environmental aspects
Pioneering or Pilot Transactions:
Support to the design and implementation of particular projects or transactions such as feasibility
studies
Capacity Building:
Activities aimed at policy development and initial legal work
20