Financing infrastructure projects (Record no. 11618)
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| 000 -LEADER | |
|---|---|
| fixed length control field | 07298nam a2200169Ia 4500 |
| 020 ## - INTERNATIONAL STANDARD BOOK NUMBER | |
| International Standard Book Number | 0727730401 |
| 082 ## - DEWEY DECIMAL CLASSIFICATION NUMBER | |
| Classification number | 363.6 |
| Item number | MER |
| 100 ## - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Merna, Tony |
| 245 ## - TITLE STATEMENT | |
| Title | Financing infrastructure projects |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) | |
| Place of publication, distribution, etc. | London |
| Name of publisher, distributor, etc. | Thomas Telford |
| Date of publication, distribution, etc. | 2010 |
| 300 ## - PHYSICAL DESCRIPTION | |
| Extent | xvii,280p. |
| 500 ## - GENERAL NOTE | |
| General note | CONTENTS Preface v Acknowledgements viii List of contributors ix 1 Project finance as a tool for financing infrastructure projects 1 Introduction 1 Rationale for investment in infrastructure 2 The change from public financing to project finance3 Definition of project finance 4 Difference between project finance and corporate finance 5 Basic features of project finance 6 The importance of tax issues in project financing 12 Bibliography 16 2 Public finance for infrastructure projects 18 Review of methods used in financing infrastructure projects 18 Typical allocation of government funds 18 Sources of government funds 20 Methods of procuring projects 22 Bibliography 23 3 Financial instruments 24 Introduction 24 Financial instruments 25 Long-term financing instruments 26 Mobilising commercial debt 28 Subordinated debt 29 Stand-by loans 29 Euro currency loans 29 Debentures 30 Export credit 31 Ordinary equity 33 Cost of equity issue 34 Mezzanine finance instruments 34 Issuing of bonds 36| Bond ratings 38 Other forms of bonds 42 Private placement of bonds 44 Preference shares 44 Warrants 45 Convertible bonds 45 Other financing instruments 46 Short-term financing instruments 49 Bibliography 50 4 Financial engineering 51 Introduction 51 Financial engineering tools 51 Financial futures 56 Buying and selling in the futures market 57 Advantages and disadvantages of futures 60 Differences between a forward contract and a futures contract 61 Swaps 62 Options 65 Option strategy 68 Caps, floors, collars, swaptions and compound options 71 Options on futures contracts 72 Asset-backed securities 73 Bibliography 73 5 Restructuring projects 74 Introduction 74 Definition of restructuring 74 Loan refinancing 75 Bonds refinancing 76 Leasing 76 Sale and lease back agreement 77 Debt-equity swap 79 Summary 80 Bibliography 81 6 Financial markets 82 Introduction 82 Functions of financial markets 82 Classification of financial markets 83 Globalisation of financial markets 87 Market efficiency 88 Bibliography 88 7 The concession or build-own-operate-transfer (BOOT) procurement strategy 89 Introduction 89 Private finance for infrastructure projects 89 Early concept of BOOT 89 Concession contracts 92 Structure of BOOT projects 92 Potential of BOOT as a solution to governments' infrastructure funding problems 96 Conditions for successful implementation of BOOT Projects 97 Advantages and disadvantages of BOOT projects 99 Typical operation and maintenance issues in BOOT projects 100 Operation and maintenance contracts within BOOT projects 102 Risks in the operation and maintenance phase of BOOT projects 105 BOOT case studies 106 Bibliography 112 8 The private finance initiative 114 Introduction 114 Conceptual standpoint 114 The origin of the PFI 115 Why the PFI? 115 How to implement PFI projects 116 The UK Private Finance Panel 117 Impacts of the PFI 119 Bidding in PFI projects 120 Contractors' reactions to PFI projects 121 Consultants' reactions to PFI projects 122 The VFM paradox in PFI projects 123 The public sector comparator 124 Potential PSC distortions 125 Output specification 126 Facilities provided sectors 127 The PFI under the new Labour government in the UK 129 Public-private partnerships 130 The structure of project finance 133 Summary 134 Bibliography 134 9 Challenges and opportunities for infrastructure development in developing countries 135 Introduction 135 What are developing countries? 135 Economies in developing countries 136 The challenge of infrastructure development 137 Opportunities for infrastructure development in developing countries 138 Traditional methods of financing infrastructure in developing countries 139 Why developing countries should invest in infrastructure projects 140 Funding sources for developing countries 143 Multi-lateral aid 144 The United Nations agencies 145 Bilateral aid 145 Co-financing 149 Alternative methods of financing infrastructure projects 149 Reducing country risks to improve the environment for private sector development 150 Bibliography 153 10 Financial institutions 154 Introduction 154 Financial institutions 154 Domestic financial institutions 155 International financial institutions 157 The World Bank Group 158 The African Development Bank 164 The Asian Development Bank 165 The Public-Private Infrastructure Advisory Facility 168 The Development Bank of Southern Africa 169 The Commonwealth Development Corporation (CDC) 170 The European Economic Community agencies 170 The Inter-American Development Bank 174 The DEG (German Investment and Development Company) 175 Export finance and guarantee agencies 175 The Overseas Private Investment Corporation 178 Bibliography 178 11 Privatisation as a method of financing infrastructure projects 180 Introduction 180 Definition and justification of privatisation 180 Types of privatisation 181 Goals of privatisation and deregulation 184 Prerequisites for privatisation 185 Benefits of privatisation 185 World trends in privatisation and economic reform 189 Privatisation in developing countries 189 Bibliography 190 12 Typical risks in the procurement of infrastructure projects 191 Introduction 191 Appraisal and validity of financing projects 191 Managing financial risks 193 Financial objectives 193 Identification of project risks 194 Quantification of risks 195 Assessment of the impact of risk exposure 195 Response to risks 195 Sources of financial risk 198 Country risk or political risk 202 Summary 203 Bibliography 203 13 Mechanism for risk management and its application to risks in private finance initiative projects 204 Introduction 204 Classification of risks 204 Risk management 207 Risk identification techniques 207 Risk analysis 210 Risk response 213 Risk transfer in PFI projects 218 Form of contract in PFI projects 222 Payment mechanism 222 Penalty clauses 224 The OPEC risk 225 Summary 226 Bibliography 227 14 Insurance and bonding 228 Introduction 228 Insurance 228 Trends in global insurance 231 Bonding 233 Issuers of bonds 237 Summary 239 Bibliography 239 15 Case study of a toll bridge project 240 Background information 240 Financial estimates for the project 242 Finance package 242 Deterministic analysis 245 Financial risk analysis 245 Results of the sensitivity analysis 248 Results of the probability analysis 253 Summary 254 Bibliography 255 16 Case study on managing project financial risks utilising financial engineering techniques 256 Introduction 256 Change in construction cost 256 Change in interest rate 257 Change in market demand 258 Change in tax rate 258 Change in exchange rate 258 Change in the cost of equity and the bond payment 260 Sensitivity and probability analysis after financial risk management 262 Financial engineering 262 Probability analysis after risk response and financial engineering 266 Summary 267 Conclusion 268 Bibliography 269 Index 271 |
| 700 ## - ADDED ENTRY--PERSONAL NAME | |
| Personal name | Njiru, Cyrus |
| 890 ## - COUNTRY | |
| -- | United Kingdom |
| 891 ## - TOPIC | |
| -- | SP/IP |
| Withdrawn status | Lost status | Damaged status | Not for loan | Collection code | Home library | Current library | Date acquired | Source of acquisition | Cost, normal purchase price | Total Checkouts | Total Renewals | Full call number | Barcode | Date last seen | Date checked out | Price effective from | Koha item type | Public note |
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| Faculty of Planning | CEPT Library | CEPT Library | 06/03/2012 | Techniz Books International | 2315.50 | 20 | 27 | 363.6 MER | 009289 | 23/10/2023 | 04/09/2023 | 30/08/2013 | Book | Status:Catalogued;Bill No:TZ 11530 |