Best Practices in PPP Financing Latin America - e-Institute - World ...

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Best practices in Public-Private Partnerships financing in Latin America He clarified that commercial and financial close does not necessarily have to occur simultaneously, but that the rules must be clear. Moreover, PPP processes are long and need the Public Administration’s commitment, not only a financial one but also investment in human resources, in order to ensure success. Gonzalez mentioned that there is liquidity to fund projects, although this is perhaps lacking in some markets. Finally, he noted that it is necessary to give more transparency to the bidding process, which involves a stable legal framework. - 90 -
Day 2 - PANEL II PANEL II: Infrastructure Funds: Panorama and perspectives Headed by ADRIANA DE AGUINAGA, Program Manager, Public- Private Infrastructure Advisory Facility (PPIAF) DAY 2 Panel members CARLOS SUÑER, Senior Specialist, Corporación Andina de Fomento (CAF) NICK O’NEILL, Chief Operating Officer, Macquarie Capital Advisers, Mexico. GONZALO DE LAS CASAS, Fund Manager, Sigma Plus Fund, Peru RICARDO DE VECCHI, Senior Advisor for FONADIN, IADB, Mexico Reasons to invest in Infrastructure Funds Ricardo De Vecchi pointed out that FONADIN was created in Mexico to support the execution of projects included in the National Infrastructure Plan. Likewise, the support of FONADIN has facilitated private investment in infrastructure, because it provides more certitude, a perception that was lost with the failed road concessions that occurred in the past in Mexico. Gonzalo De las Casas noted that the infrastructure deficit in Peru has to be financed not only by the public sector but also by the private sector. Infrastructure development is necessary to support economic growth. For the pension funds, investment in infrastructure is ideal because of the terms and the fact that risks are covered. For example, under Concession Contracts, fees are readjusted based on inflation. Nick O‘Neill mentioned that Macquarie infrastructure funds started in Mexico as part of its expansion strategy in Latin America. Creating the fund in Mexico is the first step. The reason to invest is that pension funds have long-term liabilities - 91 -
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Copyright © 2011 The International
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Fifth Session: Fiscal Risks and PPP
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World Bank Institute Public-Private
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