Public-Private Partnership in Infrastructure (PPPI) Days 2008 and Capacity Building Events
Agenda

Breakfast and Registration

Introduction and Welcome Address

Introduction - Alexander Fleming, Sector Manager, Finance and Private Sector Development, World Bank Institute

Welcome - Sanjay Pradhan, Vice President, World Bank Institute

Session 1: Institutionalizing PPP within the public sector
This session will first present a broad cross - country survey of various modes of institutionalizing PPP expertise within the public sector and then provide firsthand practitioner accounts of three country cases with distinct approaches to institutionalizing PPP. Institutional models to be covered will include Ministerial PPP units, corporatized PPP units, thinks tanks and other entities which have been mandated with functions spanning the full PPP cycle (that is, identification, design, promotion, negotiation, monitoring and regulation). Issues to be considered include: How have successful PPP Units been set up? What have been key success factors in delivering on public sector demand for PPP services? What are the key elements of an enabling legal and regulatory framework for PPP? What is needed to ensure that the public sector can make proper use of expertise which is focused in a specifically mandated PPP unit? What are various means of financing PPP units?

Moderator - Govindan Nair, Lead Economist and Program Leader, PPPI Program, World Bank Institute

Presenters

Ryan J. Orr, Executive Director, Collaboratory for Research on Global Projects, Stanford University—A worldwide cross - country review of models for managing PPP

• Presentation: Models for Managing PPP from Around the World [ PDF 869.6KB | 8 pages ]

Jay-Hyung Kim, Director, PIMAC, Korea Development Institute—Managing PPP in Korea: An institutional setup using a think tank institution

• Presentation: Managing PPP in Korea: An Institutional Set-Up Using A Think Tank Institution [ PDF 484KB | 25 pages ]

Edward Farquharson, Director, Partnerships UK—Managing PPP in the United Kingdom Using A Public - Private Partnership

• Presentation: Partnerships UK [ PDF 534.7KB | 12 pages ]

Despina Tomadaki, Deputy Head of PPP Unit, Ministry of Finance, Greece—Managing the world's fastest growing PPP program through a Ministerial unit: the case of Greece

• Presentation: How to Launch and Manage a PPP Program Successfully - The Case of Greece [ PDF 736.6KB | 33 pages ]

Discussion

Break

Session 2 : Selection of projects, planning, program management
This session will review the key operational issues of PPP programs from a public sector viewpoint. Issues include: building a PPP projects pipeline; selection of projects to develop through PPP; prioritizing PPP projects within budgetary planning; and discussing how to manage a governmental program. These discussions will focus on: management using best practices and guidelines; legal issues in project and program management; interaction with the market; and program planning with a view toward a global market.

Moderator - Vickram Cuttaree, Infrastructure Economist, Sustainable Development Network, Europe and Central Asia Region, World Bank

Presenters

Richard Foster, Head of PPP Unit, Partnerships Victoria, Australia—Managing PPP projects and programs: the experience of the State of Victoria in Australia

• Presentation: Selection of Projects, Planning, Program Management [ PDF 439.8KB | 27 pages ]

Antonio M. Lopez Corral, PPP Specialist, Universidad Politécnica de Madrid—The Spanish model of fasttrack PPP procurement within national and EU legal frameworks

• Presentation: Tendering and Awarding of Concessional Projects in Spain [ PDF 74.5KB | 15 pages ]

Victoria Hilda Rigby Delmon, Specialist and Mark M. Moseley, Senior Counsel, LEGPS, World Bank— Knowledge resources for legal issues in PPP

• Presentation: Knowledge Management Tool [ PDF 478.9KB | 20 pages ]

Discussion

Lunch

Session 3: PPP Performance Management
How should the performance of PPPs be managed? Who should monitor which results? How to benchmark performance of PPP projects compared to traditional non - PPP investments? All these questions should pay attention to: monitoring output and measuring financial impact; employing tools to keep good track record of project performance; considering the role of performance management in renegotiations of procured contracts; and determining how the specific type of PPP influences its performance and the way it is monitored.

Moderator - Govindan Nair, Lead Economist, PPPI Program, World Bank Institute

Presenters

Jung Wook Kim, Head of PPP Unit, PIMAC, Korea Development Institute—Approaches to PPP performance management including a review of the approach in Korea

• Presentation: PPP Projects Management in Korea [ PDF 548.4KB | 20 pages ]

Patricio Mansila, Vice President, Chemonics Inc.—PPP performance management: The art of measure and deliver high level services

• Presentation: PPP Performance Management: The Art of Measure and Deliver High Level of Services [ PDF 231.6KB | 22 pages ]

Richard Foster, Head of PPP Unit, Partnerships Victoria, Australia— Financial and enforcement aspects of PPP performance: experience from Victoria State in Australia

• Presentation: PPP Performance Management [ PDF 617.3KB | 28 pages ]

Discussion

Break

Session 4: Fiscal risk management
This session looks at fiscal issues—at both national and sub - national levels— arising from PPP projects and use of various instruments in PPP finance. How should the fiscal risk of PPPs be accounted and managed? Should the risks appear within the budget? How can PPP - related contingent liabilities of government be managed? How does financing of sub - national PPP projects affect government liabilities and how are these risks appropriately managed from the public and investor perspective?

Moderator - Gerardo Corrochano, Sector Manager, Finance and Private Sector Development Africa Region, World Bank

Presenters

PART ONE: GENERAL ISSUES AND CROSS - COUNTRY STUDIES

Bob Finlayson, Senior Evaluation Specialist (Private Sector), Operations Evaluation Department, Asia Development Bank—Selected conceptual issues in the fiscal impact of PPP

• Presentation: Selected Fiscal Issues [ PDF 159KB | 13 pages ]

Toshiro Nishizawa, Japan Bank for International Cooperation Institute, Tokyo—fiscal issues of revenue bond issuance in PPPI Finance: Asian Experience

• Presentation: Effectiveness of Infrastructure Investment and Revenue Bond [ PDF 620.5KB | 28 pages ]

Discussion

PART TWO: NATIONAL AND SUB - NATIONAL CASE STUDIES

Rui Sousa Monteiro, Senior Economist, PPP Unit, Parpublica, Portugal—Fiscal Impact of PPP in Portugal

• Presentation: Fiscal impact of PPP in Portugal [ PDF 88KB | 12 pages ]

Lee Travers, Manager, Sub - National Finance Group, International Finance Corporation—Sub - Sovereign Finance in PPP projects and their fiscal impact

• Presentation: Sub-Sovereign Finance in PPP Projects and their Fiscal Impact [ PDF 67.8KB | 4 pages ]

Discussion

End of Day 1

Breakfast and Registration

Keynote Speaker - Kathy Sierra, Vice President, Sustainable Development Network, World Bank

Topic 1: Global PPPI market - current issues, trends and implications for emerging economies
Why is PPPI a significant opportunity for emerging markets? What trends can be discerned in terms of how PPPI fits into overall financing for infrastructure development and service delivery worldwide? What are the data and definition problems associated with these measurements? What were the key drivers of the PPPI market in 2:007 - 08? What role did emerging economies play both as destinations and sources of PPPI investment funds? What is the future outlook of the PPP market? This panel also tackles trends within private participation in infrastructure (PPI).

Moderator - Jamal Saghir, Director, Energy, Transport, and Water Department, Sustainable Development, Vice Presidency, World Bank

Presenters

Jyoti Shukla, Manager, Public Private Infrastructure Advisory Facility, World Bank—Global trends in private provision of infrastructure: Recent findings from the PPI Database

• Presentation: Trends in Private Participation in Infrastructure [ PDF 346.9KB | 20 pages ]

Barbara C. Samuels II, Senior Advisor, Latin American and Carribean Region, Sustainable Development Department, World Bank—Some observations on the past, present and future of PPPI in emerging markets

• Presentation: The Untapped Potential of Development Finance Institutions to Catalyse Private Investment [ PDF 3.3MB | 21 pages ]

Michael Barrow, Director, Private Sector Department, Asian Development Bank—Recent PPPI trends and developments in the Asia - Pacific region

• Presentation: Recent PPPI Trends and Developments in the Asia Asia-Pacific Region [ PDF 968.4KB | 22 pages ]

Preliminary Discussion (for first three presentations)

Break

Presenters

Arvind Mayaram, Additional Secretary and Financial Advisor, Ministry of Rural Development, Government of India—India as the world's largest emerging PPP market

• Presentation: India as an Emerging PPP market [ PDF 362.3KB | 34 pages ]

Edward Farquharson, Director, Partnerships UK—Recent market trends in public - private partnerships: the perspective of Partnerships UK

• Presentation: Recent Market Trends in PPPs: The Perspective of PUK with Reflections on the Current Market [ PDF 610.7KB | 17 pages ]

Follow - up discussion (all presentations)

Lunch

Topic 2 : Infrastructure funds and the role of equity financing in PPP
What is the role of equity financing in PPP? What is the actual and potential size of globally available equity funds for PPP investments and under what conditions? What have been the patterns underlying the emergence of infrastructure funds? What are the role, risk preference, incentive structure and impact of infrastructure funds? How does this compare with funds from strategic investors and what do the differences between the two imply for expected financial returns, exit mechanisms, etc.? How have secondary markets for PFI equity evolved? How do multilateral agencies, private equity funds, and strategic investors approach these issues?

Moderator - Bernad Sheahan, Director, Infrastructure Department, International Finance Corporation

Presenters

PART ONE: MULTILATERAL AGENCY PERSPECTIVES

Michael Barrow, Director, Private Sector Department, Asian Development Bank—Global trends in equity financing of PPP projects and how the lifecycle of equity investment fits into the PPPI project lifecycle

• Presentation: Equity financing for IPPs in Asia [ PDF 426.7KB | 21 pages ]

Hela Cheikhrouhou, Division Manager, Infrastructure Finance, Private Sector Department, African Development Bank—Channeling DFI infrastructure equity investments through private equity funds

• Presentation: Channeling DFI Infrastructure Equity Investments through Private Equity Funds [ PDF 185.1KB | 25 pages ]

Discussion (part one)

PART TWO: PRIVATE SECTOR PERSPECTIVES

Nicolas Boudeville, Director, RAIF & Deputy Managing Director, Natixis Environment & Infrastructure, France—Private equity in emerging economies PPI: expected returns, risks and risk mitigation of infrastructure investments with focus on equity financing in the Africa region

• Presentation: Infrastructure Funds and Role of Equity Financing in PPP [ PDF 862.9KB | 14 pages ]

Geoff Segal, Senior Manager, Macquarie Capital Advisors—PPPI equity financing from the strategic investor viewpoint

Discussion (part two)

Break

Topic 3: The spatial dimension of PPPs: trends and capacity issues for PPPs at sub national level
How have decentralization and other key shifts in governance contributed to the emergence of PPPs at sub national levels (i.e. municipal, provincial, etc)? What is the respective role of national and sub - national governments in sub - national PPP projects? What are the implications for the financing of sub - national PPP projects? What are the different institutional models for governance of sub - national PPPs? Are there special capacity constraints? Are there good examples of how to operate PPPs at a city/region with or without national support? What can a national PPP unit do to support sub - national delivery of PPP projects? These sessions will feature examples of successful PPP units at sub national levels as well as the focus on sub national PPPs at the national level (examples from the United Kingdom, South Africa, Brazil, and India).

Moderator - Clive Harris, Infrastructure Policy Advisor, East Asia and Pacific Operations and Policy, World Bank

Presenters

William Streeter, Managing Director & Head of Global Infrastructure & Project Finance Asia Pacific, Fitch Singapore, Fitch Ratings—Rating Subnational PPPs in India

• Presentation: Rating Trends for PPPs & Subnationals in India [ PDF 205.8KB | 15 pages ]

Miguel A. Almeyda Casillas, Specialist, Multilateral Investment Fund, Inter - American Development Bank—Sub - national PPPI in Mexico: governance, risk and volume of transactions

• Presentation: Mexico's PPP Implementation Process at the National and Subnational Level [ PDF 598.3KB | 52 pages ]

Cllr Edward Lord, Chairman and Chris Wilson, Executive Director, 4Ps, United Kingdom—4Ps: A PPP taskforce dedicated to sub - national projects: lessons learnt

• Presentation: Trends and Capacity Issues for PPPs at the Sub-national Level [ PDF 250.6KB | 16 pages ]

Discussion

End of Day

Breakfast and Registration

Topic 1: Management of financial close and long - term bankability of PPP projects
What are recent experiences in reaching financial close? How can a PPP Unit support successful financial close? Why do some projects fail to reach financial close? What are key bankability issues? Emphasis will be placed on key issues in financial close; recent global markets developments: did they effect bankability?; and how project risks can affect the bankability of a PPP project.

Moderator - Peter Mosley Sr., Counsel, Legal Private Sector Development, World Bank

Presenters

Chee Mee Hu, Senior Vice - President, Project and Infrastructure Finance Ratings Group, Moody's—Short - and long - term bankability issues of PPPI Projects: how do rating agencies approach PPPIs on the project level

• Presentation: Moody's Approach to PPPI Projects [ PDF 237.3KB | 20 pages ]

Robert Sheppard, Co - Chair, Infrastructure Experts Group, United Nations— Management of Financial Close and Long - Term Bankability of PPP Projects

• Presentation: Management of Financial Close and Long-Term Bankability of PPP Projects [ PDF 177.3KB | 26 pages ]

David Ssebabi, Head of PPP Unit, Ministry of Finance, Uganda—Bankability issues in developing countries and problematic of financial close; the recent experiences of Uganda

• Presentation: PPP Bankability in Developing Countries [ PDF 124.7KB | 19 pages ]

Break

Topic 2: Risk mitigation and how to make the best use of guarantee instruments in PPP transactions
What role do guarantee instruments play alongside equity and debt finance for PPPI? How can PPP specific risks be mitigated using various guarantee instruments? What are the role of government and other actors in providing guarantees? Should public sector get involved in guaranteeing PPPs? What are the examples of innovative approaches in both the developing and developed world? Presentations will focus on specific case studies and the discussion is expected to take up the general issues.

Moderator - Marilou Jane D. Uy, Sector Director, Financial And Private Sector Department, Africa Region, World Bank

Presenter

François Bergère, Head of PPP Unit, Ministry of Finance, France-Mitigating PPPI project risk: The French experience with government underwriting of PPPI guarantees

• Presentation: Mitigating PPP risk with Government guarantees: the French experience [ PDF 157.2KB | 12 pages ]

Jay-Hyung Kim, Director, PIMAC, Korea Development Institute, South Korea-Role of Guarantee instruments in Korean PPPI market development

• Presentation: Role of Government Instruments for Mitigating Risks in Korean PPPs [ PDF 296.7KB | 17 pages ]

Robert Schlotterer, Financial Analyst, AFTEG, World Bank FEU, World Bank, and Elena Palei, Senior Underwriter, Multilateral Investment Guarantee Agency—The role of multilateral agency guarantees in power distribution PPP in Uganda

• Presentation: Public Private Partnership in Power Distribution in Uganda [ PDF 85.3KB | 12 pages ]

Discussion

Lunch

Topic 3: Project development: Focusing on cost and delivery
What are the costs of project development for PPP? How does the procurement method influence project costs and the time frame? How to benchmark project delivery cost? What are the tools to make PPP project delivery affordable? How to manage advisors to achieve efficiency and balance costs? Are the costs of project development justified? What are the internal versus external capacities for project development?

Moderator - Jordan Schwartz, Lead Economist, Latin America and Caribbean Region, Sustainable Development Department, World Bank

Presenters

Rui Sousa Monteiro, Senior Economist, PPP Unit, Parpublica, Portugal—Managing a PPP project: design, procurement and contract management

• Presentation: Managing a PPP project: design, procurement and contract management [ PDF 72.6KB | 14 pages ]

Richard Foster, Head of PPP Unit, Partnerships Victoria, Australia—Efficient management of Advisory costs and costs overruns in PPP project development

• Presentation: Project Development: Focusing on Cost and Efficiency [ PDF 293KB | 23 pages ]

Rania Zayed, Head of PPP Unit and Advisor to Minister of Finance, Egypt—Costs of project development and procurement in Egypt

• Presentation: PPP Project Development – Efficiencies, Costs & Capacities [ PDF 123KB | 18 pages ]

Patricio Mansilla, Vice President, Chemonics, Peru—PPP cost management and efficiency: theory and practice in the experience of Chile and Peru

• Presentation: PPP Cost Management and Efficiency: Theory and Practice in the Experience of Chile and Peru [ PDF 549.6KB | 34 pages ]

Discussion

Break

Topic 4: PPPI Days and PPPI Global Network: Roundtable discussion about future developments
How can the potential of the PPP Network be expanded to benefit the knowledge sharing and capacity building needs of PPP units worldwide? What specific performance requirements of PPP units can be met through such knowledge sharing and capacity building? What is the value of face to face workshops, global video dialogues, e - learning and other instruments? What could be the role of multilateral agencies, private PPP associations, and other players?

Moderator - Govind Nair, Lead Economist and Program Leader, PPPI Program, World Bank Institute

• Presentation: Multilateral PPPI Capacity Building Initiative (MP3IC) [ PDF 291.6KB | 23 pages ]

Discussants
Zere Seidimbek, Deputy Chairman, Kazakhstan PPP Center, Ministry of Economy and Budget Planning, Kazakhstan
Eva Karina Callejas Sierra, Direccion General Comision Presidencial de Modernizacion del Estado, Honduras
Ahmad Wali Shairzay, Deputy Minister, Ministry of Energy and Water, Afghanistan
Miguel A. Almeyda Casillas, Specialist, Multilateral Investment Fund, Inter American Development Bank
Godwin Brocke, Director Member PPP Unit, Research Statistics and Information Management, Ministry of Transportation, Ghana
Haroon Khawaja, Chairman, Chief Minister's Secretariat, Pakistan
Bambang Susantono, Deputy Minister, Ministry of Economic Affairs, Infrastructure and Regional Development, Indonesia
Jim Vianne Mugunga, Senior Public Relations Officer, Privatisation and Utility Sector Reform, Uganda
Otgonbat Sedbazar, Advisor to the Minister, Ministry of Mineral Resources & Energy, Mongolia
Rogerio Princhak, Executive Secretary, Public and Private Partnership Program, Secretariat of Finance of State of Bahia, Brazil

End of Day 3

Breakfast and Registration

Welcoming Remarks

Rakesh Nangia, Director of Operations, World Bank Institute
Ngozi Okonjo - Iweala, Managing Director, World Bank
Rajat Nag, Managing Director General, Asian Development Bank

Session 1: Closing knowledge and capacity gaps in PPPI: the role of multilateral agencies
This session will review how various multilateral agencies are contributing to helping developing country governments fill gaps in institutional capacities, organizational competencies, and individual skills in PPPI. Progress of a new Multilateral PPPI Capacity Building Initiative (MP3IC) will be discussed.

Moderator - Govindan Nair, Lead Economist and Program Leader, PPPI Program, World Bank Institute

Co - presenters/Discussants
Elaine Glennie, Senior Specialist, Asian Development Bank Institute
David Bloomgarden, Multilateral Investment Fund, Inter - American Development Bank
Philippe Durand, Lead infrastructure and PPP specialist, African Development Bank
James Leigland, Regional Program Leader, PPIAF

Discussion

Break

Session 2: Closing knowledge and capacity gaps: The role of regional centers of PPPI expertise
How have and how will these networks support global, regional, and sub - regional knowledge sharing? What is the model and what are the lessons learned for other regional and sub - regional cooperation initiatives? Several models will be featured and discussed, including: the European PPP Expertise Centre, the United Nations Economic Commission for Europe, and the Mexican approach.

Moderator - Richard Cabello, Principal Investment Officer, IFC

Presenters

Nicholas Jennett, European PPP Expertise Centre, European Investment Bank, Luxembourg

• Presentation: The European PPP Expertise Centre, EPEC [ PDF 133.7KB | 20 pages ]

Geoffrey Hamilton, Chief, Cooperation and Partnerships Section, United Nations Economic Commission for Europe

• Presentation: The 3ps: People, Projects and Policy [ PDF 125.8KB | 22 pages ]

Sergio Hinojosa, Partner, IKONS ATN, Mexico

• Presentation: A preliminary approach towards closing the knowledge and capacity gap: Harmonization of the Cost “and” Benefit Analysis Methodology [ PDF 1.2MB | 33 pages ]

Discussion

Lunch

Session 3: PPP associations: Knowledge in action at the interface of the public and private sectors
PPP associations (comprising private sector operators in PPP and sometimes also public sector institutions) from several countries including the United States, Canada, and the United Kingdom will present their roles and experience in PPP programs. Discussion will include what further roles associations might play as sources of knowledge and capacity building for PPPI programs worldwide.

Moderator - Art Smith, Chairman, National Council for PPP, United States

Presenters

Richard B.Norment, Executive Director, National Council for PPP, United States

• Presentation: Profile of the National Council for Public- Private Partnerships [ PDF 566.1KB | 7 pages ]

Jane Peatch, Executive Director, Canadian Council for PPP

• Presentation: The Canadian Council for Public-Private Partnerships [ PDF 268.4KB | 15 pages ]

Richard Normington, Senior Manager, International Financial Services of London, United Kingdom

• Presentation: Public Private Partnerships in Infrastructure Days [ PDF 369.9KB | 9 pages ]

Stephen Harris, Turkish PPP Platform, Chairman of the UKTI PPP Export Advisory Group, International Development Director Tribal Group plc

• Presentation: The Turkish PPP Platform [ PDF 410.1KB | 12 pages ]

Geraldine Kouzan, Vice Chairman, PPP Club, France

• Presentation: PPP Club (France) and PPP Medafrique Club [ PDF 616.5KB | 9 pages ]

Discussion

Break

Session 4: Emerging market PPPI in the context of the global financial crisis
Recent developments in global capital markets and how they are reshaping market perceptions of PPP projects in emerging economies will be discussed. Emphasis will be on the new challenges raised for infrastructure funding via infrastructure bonds, infrastructure funds and structured finance and how the might shape the future of PPP projects in emerging markets. Attention will also be given to lessons from previous financial crises (for example, Korea 1997 - 98) for the sustaining the PPP market under challenging market conditions. The dialogue is intended to explore options for restoring debt and equity market financing for infrastructure projects, both under implementation and planned, and restoring willingness and ability of financial markets to consistently fund planned infrastructure projects.

Moderator - Laurence Carter, Director, Advisory Services, International Finance Corporation

Presenters - Rob Collins, Executive Director, Morgan Stanley, United States

• Presentation: The Global Financial Crisis: Impact on Emerging Market Public-Private Partnerships [ PDF 111KB | 7 pages ]

Disscussants
Robert Bestani, Former Director General, Private Sector Operations Department, Asian Development Bank
Shuilin Wang, Managing Director & Head for Public Affairs and International Cooperation, China Investment Corporation
Cherian George, Managing Director, Fitch Ratings, New York, United States
Edward R. Neaher, Jr., Partner, White & Case, Washington, D.C., United States
Brian Miller, Chief Operating Officer, AES Corporation, Virginia, United States

Discussion

Presenter - Se - il Kong, Director of Project Finance Division, Korea Development Bank (videotaped presentation)

Discussion

End of Day 4