Table of contents for Review of risk mitigation instruments for infrastructure financing and recent trends and developments / Tomoko Matsukawa, Odo Habeck.


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Authors                                                                        vii
Acknowledgments                                                                viii
Foreword                                                                       ix
Background                                                                      x
Introduction                                                                    xi
1. Types of Risk Mitigation Instruments                                          1
Credit Guarantees                                                            2
Export Credit Guarantees or Insurance                                        4
Political Risk Guarantees or Insurance                                       4
2. Recent Trends in Risk Mitigation                                             6
Regulatory Risk                                                              6
Devaluation Risk                                                             7
Subsovereign Risk                                                            7
3. Characteristics of Risk Mitigation Providers and Compatibility of Products    9
Multilateral Agencies                                                        9
Bilateral Agencies                                                           9
Private Financial Entities                                                  10
Complementary Arrangements                                                  10
4. Innovative Application of Risk Mitigation Instruments                        12
Multilateral Wrap Guarantees by Combining Partial Credit Guarantees         12
PCG Combined with Contingent Loan Support                                   12
PCG for Pooled Financing                                                    12
Complementary Guarantees by Combining a PRG and PRI                         13
Corporate Finance with PRG and PRI                                          13
Privatization Guarantees                                                    13
Brownfield Project Support                                                 13
Country-Specific Guarantee Facilities                                      13
Global or Regional Guarantee Facilities                                    13
Guarantee Initiatives for Local Capital Markets                            14
5. ChalengesAhead                                                             15
Appendix A. Profiles of Transaction Cases                                      17
Appendix B. Profiles of Multiateral and Bilatera Risk Mitigation nstruments    36
List of Tables
1  Broad Category of the Availability of Instruments                           3
Appendix A. Profiles of Transaction Cases
Al    Summary, Philippines Power Sector Assets and Liabilities Management Corporation  18
A2    Summary, Philippine Power Trust I                                        18
A3    Summary, Tlalnepantla Municipal Water Conservation Project               19
A4    Summary, City of Johannesburg                                           20
A5    Summary, Privatization of Romanian Power Distribution Companies          20
A6    Summary, Joint Kenya-Uganda Railway Concession                           21
A7    Summary, AES Tiet                                                        22
A8    Summary, Phu My 2.2 BOT Power Project                                    24
A9    Summary, Rutas del Pacifico                                             25
A10   Summary, IIRSA Northern Amazon Hub                                       26
All Summary, Tamil Nadu Pooled Financing for Water and Sanitation              27
A12   Summary, West African Gas Pipeline Project                               28
A13   Summary, Southern Africa Regional Gas Project                            29
"A14  Summary, Afghanistan Investment Guarantee Facility                       30
A15   Summary, SME Partial Credit Guarantee Program                            31
A16   Summary, Private Infrastructure Development Group                        31
A17   Summary, BOAD Infrastructure Guarantee Facility                          33
A18   Summary, African Trade Insurance Agency                                  34
Appendix B. Profiles of IMajor Mutilatera Risk Mitigation nstruments
B1.1 World Bank: International Bank for Reconstruction and Development (IBRD)
and International Development Association (IDA)                          37
B1.2 International Finance Corporation (IFC)                                   38
B1.3 Multilateral Investment Guarantee Agency (MIGA)
B1.4 African Development Bank (AfDB)                                          40
B1.5 Asian Development Bank (ADB)                                             41
B1.6 European Bank for Reconstruction and Development (EBRD)                   42
B1.7 Inter-American Development Bank (IDB)                                    43
B1.8 European Investment Bank (EIB)                                            45
B1.9 Andean Development Corporation (CAF)                                     46
B1.10 Islamic Corporation for Insurance of Investments and Export Credits (ICIEC)  47
B1.11 Inter-Arab Investment Guarantee Corporation (IAIGC)                     49
Appendix B2. Profiles of Major Bilatera Risk Mitigation nstruments
B2.1 Export Development Canada (EDC)                                          50
B2.2 Agence Frangaise de Developpement (AFD)                                  51
B2.3 Coface                                                                    52
B2.4 Deutsche Investitions und Entwicklungsgesellschaft mbH (DEG)             54
B2.5 Foreign Trade and Investment Promotion Scheme (AGA)                      55
B2.6 Italian Export Credit Agency (SACE)                                      56
B2.7 Japan Bank for International Cooperation (JBIC)                          57
B2.8 Nippon Export and Investment Insurance (NEXI)                             58
B2.9 Atradius Dutch State Business NV                                          59
B2.10 The Netherlands Development Finance Company (FMO)                        61
B2.11 Norwegian Guarantee Institute for Export Credits (GIEK)                  61
B2.12 Swedish Export Credit Guarantee Board (EKN)                              63
B2.13 Swiss Investment Risk Guarantee Agency (IRG)                             64
B2.14 Swiss Export Risk Guarantee (SERV)                                       65
B2.15 Department for International Development (DFID)                          66
B2.16 Export Credits Guarantee Department (ECGD)                               67
B2.17 United States Agency for International Development's (USAID's) Development
Credit Authority (DCA)                                                   68
B2.18 Export-Import Bank of the United States (Ex-Im Bank)                     69
B2.19 Overseas Private Investment Corporation (OPIC)                           70



Library of Congress subject headings for this publication: Infrastructure (Economics) Finance, Financial risk management, Financial instruments