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Resource Financed Infrastructure : A Discussion on a New Form of Infrastructure Financing
[Infrastructures financées par des ressources naturelles : Examen d'un nouveau mode de financement des infrastructures]

Author

Listed:
  • Havard Halland
  • John Beardsworth
  • Bryan Land
  • James Schmidt

Abstract

This report, consisting of a study prepared by global project finance specialists Hunton and Williams LLP and comments from six internationally reputed economists and policy makers, provides an analytical discussion of resource financed infrastructure (RFI) contracting from a project finance perspective. The report is meant as a forum for in-depth discussion and as a basis for further research into RFI's role, risks, and potential, without any intention to present a World Bank, supported view on RFI contracting. It is motivated by the conviction that if countries are to continue to either seeks RFI or receive unsolicited RFI proposals, there is an onus on public officials to discern bad deals from good, to judge unavoidable trade-offs, and to act accordingly. The report aims to provide a basis for developing insights on how RFI deals can be made subject to the same degree of public policy scrutiny as any other instrument through which a government of a low or lower-middle-income country might seek to mobilize development finance. The report also feeds into the global mainstreaming of 'open contracting,' providing citizens with the means to engage with governments and other stakeholders on how nonrenewable resources are best managed for the public benefit. In the case of RFI, there is a very direct link made between the value of resources in the ground and the development of (infrastructure) benefits. It should not be a surprise, therefore, that the revised Extractive Industries Transparency Initiative (EITI) Standard, adopted in May 2013, addresses extractive transactions with an infrastructure component, including RFI.

Suggested Citation

  • Havard Halland & John Beardsworth & Bryan Land & James Schmidt, 2014. "Resource Financed Infrastructure : A Discussion on a New Form of Infrastructure Financing [Infrastructures financées par des ressources naturelles : Examen d'un nouveau mode de financement des infr," World Bank Publications - Books, The World Bank Group, number 18554.
    • Handle: RePEc:wbk:wbpubs:18554
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    File URL: https://openknowledge.worldbank.org/bitstream/handle/10986/18554/884850PUB0Box300EPI2102390May292014.pdf?sequence=1
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    References listed on IDEAS

    as
    1. Yoon, Chang-Ho & Na, Kyoung-Youn, 2013. "Efficiency of transport infrastructure and ICT development," 24th European Regional ITS Conference, Florence 2013 88526, International Telecommunications Society (ITS).
    2. John T. Hodges & Georgina Dellacha, 2007. "Unsolicited infrastructure proposals : how some countries introduce competition and transparency," World Bank Publications - Reports 10718, The World Bank Group.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Anthony J. Venables, 2016. "Using Natural Resources for Development: Why Has It Proven So Difficult?," Journal of Economic Perspectives, American Economic Association, vol. 30(1), pages 161-184, Winter.
    2. Xu, Jiajun & Ru, Xinshun & Song, Pengcheng, 2021. "Can a new model of infrastructure financing mitigate credit rationing in poorly governed countries?," Economic Modelling, Elsevier, vol. 95(C), pages 111-120.
    3. Jun Rentschler & Morgan Bazilian, 2017. "Policy Monitor—Principles for Designing Effective Fossil Fuel Subsidy Reforms," Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 11(1), pages 138-155.
    4. Sebastian Purwins, 2023. "Same Same, but Different: Ghana’s Sinohydro Deal as Evolved ‘Angola Model’?," Insight on Africa, , vol. 15(1), pages 46-70, January.
    5. Mihalyi,David & Hwang,Jyhjong & Rivetti,Diego & Cust,James Frederick, 2022. "Resource-Backed Loans in Sub-Saharan Africa," Policy Research Working Paper Series 9923, The World Bank.
    6. Jean-Pascal Nganou & Juste Some & Guy Tchuente, 2016. "Government Spending Multipliers in Natural Resource-Rich Developing Countries," Studies in Economics 1609, School of Economics, University of Kent.
    7. Tom Ogwang & Frank Vanclay, 2021. "Resource-Financed Infrastructure: Thoughts on Four Chinese-Financed Projects in Uganda," Sustainability, MDPI, vol. 13(6), pages 1-22, March.
    8. Landry, David, 2018. "The risks and rewards of resource-for-infrastructure deals: Lessons from the Congo's Sicomines agreement," Resources Policy, Elsevier, vol. 58(C), pages 165-174.

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