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Last data update: August, 2014

Publications

Since its creation, the Private Participation in Infrastructure (PPI) Project Database has been the main information source for trends in private participation in infrastructure in developing economies and for a large number of publications. These reading lists contain the publications based primarily on information provided by the PPI Project Database. 
 
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Recent trends in private activity in infrastructure: What the shift away from risk means for policy
Author: Clemencia Torres de Mästle and Ada Karina Izaguirre
Source: Gridlines No. 31, Private Infrastructure Advisory Facility (PPIAF), May 2008.
In 2006, private participation in infrastructure continued its recovery for the third consecu¬tive year from the steep downturn of the late 1990s. Activity was more evenly spread across all developing regions. However, it became more concentrated in less risky subsectors, reflecting a lower appetite for risk among private investors. Greater selectivity has facili¬tated private sector’s renewed interest, but it also raises questions about how governments can best tap private operators’ abilities in high-need, high-risk areas such as water and elec¬tricity distribution. Recent projects in these areas indicate that the public sector—together with the international financial institutions—remains the main source of investment funding. As governments create arrangements to attract private participation, they also need to ensure an equitable distribution of benefits among investors, taxpayers, and service users.

The role of developing country firms in infrastructure: New data confirm the emergence of a new class of investors
Author: Michael Schur, Stephan von Klaudy, Georgina Dellacha, Apurva Sanghi, and Nataliya Pushak
Source: Gridlines Note No 3, Public-Private Infrastructure Advisory Facility (PPIAF), May 2008.
Developing country investors have emerged as a major source of investment finance for infrastructure projects with private participation. This update of the article originally written by M. Schur, et al in 2006, shows that, indeed, during 1998–2006 these investors accounted for more of this finance in South Asia and East Asia and Pacific—and for more in transport across developing regions—than did investors from developed countries. Even though the policy implications are not yet fully clear for policy makers, this development suggests a need to rethink the criteria used in selecting investors in schemes for private participation, which have been biased toward large international operators.

India leads developing nations in private sector investment: But the region needs more investment to meet demands
Author: Clive Harris
Source: Gridlines No. 30, Public-Private Infrastructure Advisory Facility (PPIAF), March 2008.
India has had the most success attracting more private investment in infrastructure in 2006 than any other developing country. Long-standing policies in most other South Asian countries are beginning to bear fruit as well. Nevertheless, delivering the infrastructure services needed to sustain and accelerate growth in South Asia remains a major challenge. Estimates suggest that closing the gap in service provision and meeting future needs will require infrastructure investment in the range of 7–8 percent of GDP a year. The private sector can do more to help close the region’s infrastructure service deficit.

Private participation in infrastructure in Europe and Central Asia: A look at recent trends
Author: Maria Vagliasindi and Ada Karina Izaguirre
Source: Gridlines No. 26, Public-Private Infrastructure Advisory Facility (PPIAF), August 2007.
Eastern Europe and Central Asia is attracting more investment to infrastructure projects with private participation than any other developing region except Latin America. Members of the European Union (EU) and countries seeking membership account for most of the investment. The Russian Federation is emerging as a leader both in attracting private activity and in sponsoring projects in neighboring countries. Telecommunications and energy are the leading sectors. But new regulatory challenges are emerging as a result of exclusivity periods in telecommunications and greater market concentration and vertical reintegration in energy.

Revival of private participation in infrastructure: A look at recent trends in developing countries and their policy implications
Author: Michel Kerf and Ada Karina Izaguirre
Source: Gridlines No. 16, Public-Private Infrastructure Advisory Facility (PPIAF), Jan 2007.
Private participation in infrastructure projects in developing countries plummeted after the 1997 Asian crisis and followed a broadly declining trend for several years afterward. However, in 2004 and 2005 investment in such projects increased sharply. Meanwhile, the distribution of investment across sectors and regions, and the allocation of risks between public and private parties, were shifting. Private sponsors started putting more emphasis on risk mitigation strategies. To take advantage of private sponsors’ renewed interest in infrastructure projects, governments need to create risk sharing arrangements that attract private operators while also benefiting governments, taxpayers, and users.

Urban infrastructure finance from private operators: what have we learned from recent experience?
Author: Annez, Patricia Clarke
Source: Policy, Research working paper No. WPS 4045 World Bank, Washington, D.C., November 2006.
The paper examines the role of private participation in infrastructure (PPI) in mobilizing finance for key urban services, that is, urban roads, municipal solid waste management, and water and sanitation since the early 1990s. The review indicates that for financing urban services, PPI has disappointed-playing a far less significant role than was hoped for. The author identifies good reasons-practical, political, economic and institutional-for this disappointment. Experience shows that there are a number of features that raise the risk profile of urban infrastructure for private investors. Many of the measures that could reduce the risk profile are outside the control of many cities, others unlikely to change, and yet another group of steps to be taken that would improve prospects for urban service provision, whether in the hands of public or private operators. These findings suggest a more pragmatic and selective approach to the focus on PPI as a source of finance.

Financing infrastructure in Africa: How the region can attract more project finance
Author: Robert Sheppard, Stephan von Klaudy, and Geeta Kumar
Source: Gridlines No. 13, Public-Private Infrastructure Advisory Facility (PPIAF), Sept 2006.
Sub-Saharan Africa receives only a small share of private investment in infrastructure. One reason for this is its difficulties in getting project finance—difficulties that stem from the low creditworthiness of most African countries, the limits of local financial markets, and the risk profiles typical of infrastructure projects. Whether the region can attract more private foreign currency funding for infrastructure will depend in part on the ability to reduce foreign exchange risks. But in some countries local currency sources, especially local capital markets, also offer good potential.

Reform, private capital needed to develop infrastructure in Africa: Problems and prospects for private participation
Authors: James Leigland and William Butterfield
Source: Gridlines No. 8, Public-Private Infrastructure Advisory Facility (PPIAF), May 2006.
In Sub-Saharan Africa the story of private participation in infrastructure has been largely one of telecommunications. With other sectors taken into account, the levels of private activity have been low for the past 15 years. Still, the overwhelming need for infrastructure has motivated regional economic organizations to push for an ambitious agenda of private participation. But to begin solving Africa’s infrastructure investment problems will also require broad institutional reform along with greater financial commitments by governments and donors.

The role of developing country firms in infrastructure: A new class of investors emerges
Authors: Michael Schur, Stephan von Klaudy, and Georgina Dellacha
Source: Gridlines No. 3, Public-Private Infrastructure Advisory Facility (PPIAF), April 2006.
Developing country investors have emerged as a major source of investment finance for infrastructure projects with private participation. Indeed, in 1998–2004 these investors accounted for more of this finance in transport across developing regions—and for more in South Asia and Sub-Saharan Africa—than did investors from developed countries. For policymakers this development suggests a need to rethink the criteria used in selecting investors in schemes for private participation, which have been biased toward large international operators.

Private Infrastructure: Emerging Market Sponsors Dominate Private Flows
Author: Ada Karina Izaguirre
Source: Public Policy Journal No. 299, the World Bank, October 2005.
Investment flows to infrastructure projects with private participation in developing countries grew by 12 percent to US$64 billion in 2004. Telecommunications investments drove the growth, rising by 35 percent, while investment flows to other infrastructure sectors fell by 20 percent. Greenfield projects were the most common type of private participation, and management contracts became more frequent.

Private Infrastructure: Activity Down by 13 Percent in 2003
Author:
Ada Karina Izaguirre
Source: Public Policy Journal No. 274, the World Bank, September 2004.
Drawing on the World Bank's Private Participation in Infrastructure Project Database, this Note reviews developments in 2003. Data for the year show that investment in projects with private participation totaled almost US$50 billion—back to 1994 levels. About 100 projects reached financial closure. Electricity was the only subsector—and East Asia and the Middle East and North Africa the only developing regions—that saw private activity grow in 2003.

Infrastructure Projects: A Review of Canceled Private Projects
Author: Clive Harris, John Hodges, Michael Schur, and Padmesh Shukla
Source: Public Policy for the Private Sector 252. World Bank, Washington , D.C. , January 2003
In recent years the renegotiation and, even more, the cancellation of private infrastructure projects in developing countries have made the headlines in the world's financial press. For a variety of reasons the renegotiation of projects is not an unusual occurrence. But as this Note explains, only 48 private infrastructure projects in developing countries were canceled in 1990–2001, a small fraction of the nearly 2,500 projects that reached financial closure over this period.

Private Infrastructure: Activity Down by 30 Percent in 2002
Author:
Ada Karina Izaguirre
Source: Public Policy Journal No. 267, the World Bank, February 2004
Drawing on the World Bank's Private Participation in Infrastructure Project Database, this Note reviews developments in 2002. Investment in projects with private participation totaled US$47.5 billion - falling back to 1994 levels - and 128 projects reached financial closure. Energy was the only sector in which private activity grew in 2002, driven by natural gas transport projects. Europe and Central Asia and South Asia saw private activity grow in 2002. And in low-income countries private activity rose to among the group's highest investment levels in 1990-2002.

Private Participation in Infrastructure: Trends in Developing Countries in 1990-2001
Author: Various
Drawing on data from the World Bank's Private Participation in Infrastructure (PPI) database, this new book provides an overview of the nearly 2500 private infrastructure projects that were implemented between the period 1990-2001 in 132 developing countries and mobilized investment of some $754 billion.

Private Infrastructure: A Review of Projects with Private Participation, 1990–2001
Author: Ada Karina Izaguirre
Source: Public Policy Journal No. 250, the World Bank, October 2002
Drawing on the World Bank's Private Participation in Infrastructure Project Database, this Note reviews developments in 2001 and summarizes trends in 1990–2001. Data for 2001 show that total investment in projects with private participation was US$57 billion— back to 1995 levels—and 150 projects reached financial closure.

Private Infrastructure: A Review of Projects with Private Participation, 1990–2000
Author: Ada Karina Izaguirre
Source: Public Policy Journal No. 246, the World Bank, June 2002
Drawing on the World Bank's Private Participation in Infrastructure Project Database, this Note provides an overview of private activity in infrastructure in developing countries between 1990 and 2000. Three main trends characterized that decade: Private activity in infrastructure grew each year except 1998 and 1999.Most developing countries introduced some form of private activity in infrastructure. But Latin America and East Asia captured most of the investment.

Private Infrastructure: Are the Trends in Low-Income Countries Different?
Author:
Melissa Houskamp and Nicola Tynan
Source: Public Policy Journal No. 246, the World Bank, June 2002
This Note, based on the World Bank's Private Participation in Infrastructure (PPI) Project Database, reviews trends in infrastructure projects with private participation in low-income countries. Four main conclusions arise. Surprisingly, the proportion of countries with at least one project—81 percent—is higher among low-income than middle-income countries. As in middle-income countries, most investment has been in telecommunications or energy projects. However, in low-income countries, well over half the projects are greenfield . And the scale of private participation in low-income countries lags far behind that in middle-income countries.

Private Infrastructure: Private Activity Fell by 30 Percent in 1999
Author: Ada Karina Izaguirre
Source: Public Policy Journal No. 215, the World Bank, September 2000
This Note, which draws on the World Bank's Private Participation in Infrastructure (PPI) Project Database, provides an overview of recent trends in infrastructure projects with private participation in developing countries. Three main trends have emerged during the past decade. Private activity in infrastructure grew dramatically between 1990 and 1997, but declined because of the financial crises of 1998–99. Most developing countries have some private activity in infrastructure, but Latin America and East Asia dominate investment.

Recent Trends in Private Participation in Infrastructure
Author: Neil Roger
Source: Public Policy Journal No. 196, the World Bank, September 1999.
Private activity in infrastructure--as measured by investment flows to projects with private participation--grew dramatically in developing countries between 1990 and 1997, from about US$16 billion to US$120 billion. It then declined by about a fifth to US$95 billion in 1998, a result of the Asian financial crisis that began in mid-1997. Private activity in 1998, sustained by a US$19 billion telecommunications privatization in Brazil , remained above the 1996 level. Investment over the past eight years totaled nearly US$500 billion. Private investment now averages about 40 percent of the total for infrastructure in developing countries. More goes to telecommunications and energy than other sectors, and more to East Asia and Latin America than other regions. But almost all developing countries have some private activity in infrastructure.

 
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