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my #WallStreetConsensus paper: escorting financial capital to SDG in Global South via (a) structural transformation of local financial systems and (b) state derisking PPP-based SDG assets (for demand, political, climate & liquidity risks) https://osf.io/preprints/socarxiv/wab8m/
cc @MiriamBrett @ma_jose_romero @crystalsimeoni @Kentikelenis @crystalsimeoni @squirrelista @BJMbraun @Frauke77487323
on the empirical side, paper explores the new World Bank Infrastructure Sector Assessment Programs
(InfraSAPs) for Egypt, Nepal, Sri Lanka and Vietnam to document proposed engineering of 'developmental/SDG assets'
(InfraSAPs) for Egypt, Nepal, Sri Lanka and Vietnam to document proposed engineering of 'developmental/SDG assets'
World Bank sees the COVID pandemic as a strategic opportunity for PPP-led infrastructure recovery plans, and is mobilising PPP offices in Global South for it
https://blogs.worldbank.org/ppps/how-world-bank-looking-covid-19-and-public-private-partnerships-right-now-and-post-crisis
https://blogs.worldbank.org/ppps/how-world-bank-looking-covid-19-and-public-private-partnerships-right-now-and-post-crisis
problem is that infrastructure PPPs around the world have been hit by demand risk, as you cannot charge user fees in lockdown.
WB answer: more derisking state, more infrastructure as an asset class, more #WallStreetConsensus
WB answer: more derisking state, more infrastructure as an asset class, more #WallStreetConsensus
#WallStreetConsensus flourishing in Brazil, pandemic be damned: highway PPP project signed in May 2020, financed by Singapore Sovereign Wealth Fund and Patria Investments (partly owned by Blackstone)
the largest PPP in Cameron, the Nachtigal Hydro Power Company - a great example of Maximising Finance for Development - has a legal contract of 141 pages.
and here is a distribution of risks, with the Government of Cameron (GoC) ticking a lot of boxes - the derisking state in action
and the World Bank's new Next Generation Africa Climate Business Plan (July 2020) hardwires #WallStreetConsensus logic via Maximising Finance for Development + Green and Resilient Infrastructure
http://documents1.worldbank.org/curated/en/946731593673121971/pdf/The-Next-Generation-Africa-Climate-Business-Plan-Ramping-Up-Development-Centered-Climate-Action-Main-Report.pdf
http://documents1.worldbank.org/curated/en/946731593673121971/pdf/The-Next-Generation-Africa-Climate-Business-Plan-Ramping-Up-Development-Centered-Climate-Action-Main-Report.pdf
this Afghanistan PPP will make for an interesting case study of derisking a World Bank promoted PPP
turns out what we really need to get trillions for public investment in SDGs is not elaborate financial engineering under #WallStreetConsensus, but euthanasia of the high-net worth individuals, via proper taxation regimes https://twitter.com/MkBlyth/status/1281399296630366209?s=20
speaking of euthanasia, come Switzerland https://twitter.com/ThetaRayTeam/status/1281348692935573505?s=20
in case you believed that COVID19 at least will give us better funded public health systems, think again: PPP practitioners around the world identify health as the most promising area post-pandemic
Alston Report - an indictment of the #WallStreetConsensus https://twitter.com/BernardsNick/status/1281879054426288130?s=19
another day, another @WorldBank blog calling for more state guarantees/derisking PPPs, now with a handbook for derisking
https://blogs.worldbank.org/ppps/using-government-guarantees-carefully-private-sector-redefines-bankability
https://blogs.worldbank.org/ppps/using-government-guarantees-carefully-private-sector-redefines-bankability
the environmental politics of the #WallStreetConsensus is to tie the hands of governments in the Global South either directly (environmental regulation = political risk) or indirectly (compensate PPP operators for new rules)
guess which continent is sinking more fiscal resources in guaranteeing profits for private energy sector: Africa.
And private sector there means European and US companies. #CompactWithAfrica
cc @crystalsimeoni @wangkinoti @Frauke77487323 @squirrelista
And private sector there means European and US companies. #CompactWithAfrica
cc @crystalsimeoni @wangkinoti @Frauke77487323 @squirrelista
