A Client Focused Approach. SDM Forum October 2010
|
|
- Branden Norman
- 5 years ago
- Views:
Transcription
1 IBRD Financial Solutions A Client Focused Approach to Achieving Ahi i Debt DbtManagement tgoals SDM Forum October 2010
2 Main Messages Clients face a range of risks and challenges in putting together financing to meet development objectives and achieve debt management goals. IBRD has an extensive menu of financing and risk management products and services to help clients deal with these risks. The process begins withand isbuiltaround the client s financing needs and risk management objectives. The outcome is a customized financial solution that supports overall development objectives. 2
3 IBRD is a full service financial provider Traditionally Serving: Eligible borrowers Providing: Access to finance for development Offering: One-size-fits all loans Today Serving: All member countries Providing: Financial solutions to access, protect and manage development e e resources and to help address global challenges Offering: Broad menu of financial services Loans Credit enhancement (guarantees) Risk management tools Asset/wealth management Treasury management services Shift in delivery model to client focused approach: Customized financial solutions based on needs/risks of each client 3
4 Cost of borrowing for sovereigns is volatile 12.00% EMBIG and IBRD Spread over US Treasuries July 15, 1999 to October 15, % 00% 8.00% 6.00% % 4.00% 2.00% 0.00% -2.00% Jul-99 N ov-00 Apr-02 Au ug-03 J an-05 M ay-06 Oct-07 Fe eb-09 Ju un-10 EMBIG IBRD Fixed Spread greater than 15 years and up to 18 IBRD Variable Spread greater than 15 years and up to 18 The spreads presented on the graph correspond to the longest average maturity available for each instrument at the time. The current average life of the EMBIG is 11.7 years. As of July 1 st 2010 the longest average maturity offered by IBRD is 18 years. Source: JP Morgan, World Bank, and Bloomberg 4
5 IBRD is a competitive source of financing IBRD Variable Spread Funding Cost Comparison 1 Spreads over USD 6 month LIBOR as of October 15, mo LIBOR on October 15, 2010 = 0 45% ( 0.28%, 0.38% and 0.48% respectively ) = 0.45% IBRD Fixed Spread ( 0.60%, 0.85% and 1.15% respectively ) EMBIG Asia 1.48% EMBIG Europe 1.92% EMBIG Africa 2.52% EMBIG Latam 3.09% EMBIG Middle East 3.39% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% EMBIG Spread IBRD Spread 12 years and less IBRD Spread 12+ to 15 years IBRD Spread 15+ to 18 years 1/ IBRD lending rates include an annualized front end fee of 0.03%. For sovereign issuances, spreads over LIBOR are based on current secondary market yields. Source: Bloomberg and World Bank 5
6 Flexible, cost effective tools offer clients ways to manage multiple financial risks Financial Issues Liquidity/ credit crunch Mismatch between foreign currency loans and local currency revenues Cash flow/ liquidity issues jeopardizing i compliance with ih investment programs Reduced private sector appetite Interest rate volatility IBRD financial solutions Contingent credit lines Provide low cost loans Mobilize private resources with guarantees Provide local currency financing Execute derivatives transactions to convert currencies Customize repayments; provide longer repayment terms (up to 30 yrs) Boost confidence with guarantees Fix interest rates using derivatives 6 (swaps, caps, collars)
7 IBRD offers a full menu of financial solutions Loans Contingent Financing Credit Enhancement Hedging Products Catastrophe Risk Management Client Advisory Services IBRD Flexible Loan Local currency loans Sub national finance Deferred Drawdown Option (DDO) Partial risk guarantees (IBRD/IDA) Partial credit and policy based guarantees Currency swaps (also non IBRD) Interest rate swaps (also non IBRD) Interest rate caps and collars Commodity price swaps Weather hedges Cat DDO Insurance pools Catastrophe bonds Asset management Public debt management Asset and liability management Capital market access strategy & implementation Transaction processing, reporting, and IT
8 Annexes
9 Example: Local currency financing via local currency bond issue in Uruguay Background Uruguayan authorities expressed strong interest in receiving financing in UYU from IBRD However, swap market in UYU was not sufficiently developed Financial Risk Financial Solution Currency Risk Back-to-Back B k Operation: two simultaneous and symmetrical transactions executed with a high level of coordination between IBRD and the Uruguayan Ministry of Finance Structure Domestic & International Investors UYU 1, mm (USD100 mm.) Inflation-linked Bond 3.40% Coupon World Bank UYU 1, mm (USD100 mm.) Inflation-linked Loan 3.40% Coupon % Government of Uruguay Outcome Expands local currency financing to countries where the currency swap market is not sufficiently developed, helping Governments to reduce foreign exchange risk The bond issue contributes t to the deepening of domestic capital markets and is a source of diversification to domestic pension funds and international investors Exemplifies IBRD's commitment to provide customized 9 financial solutions to its members
10 Catastrophe Risk Example: Weather Derivative in Malawi Client Needs: Development Objective Recurrent drought and impact on maize production create food insecurity and malnutrition Customized Financial Solution Weather derivative transfers risk of catastrophic drought to the market Financing Problem Government has contingent t liabilities since it may need to import food and fund food security responses in the event of a drought In the event of severe and catastrophic Risk Management Problem drought, government Uncertainty about rainfall volumes has quick access to creates uncertainty about maize contingent financing production, supply, and price volatility Government concerned about Can be linked to a continuously relying on donors to help in commodity hedge the event of an emergency which caps price of maize imports 10
11 Securing Long term Financing for Clean Technologies in Mexico Client goal: Issues: Requirements: Risks Shortfall risk Currency risk Interest rate risk Background Increased motorization has lead to significant increase in GHG emissions in Mexico, making it one of the more carbon-intensive economies in Latin America. Mexico needed to implement sustainable transport policies, scrap non-compliant vehicles, and introduce low carbon buses. Transformation of urban transport system requires more than US$2.7 billion of financing. Overall project viability dependent on availability of necessary funding at concessional rates. Innovative approach to meet shortfall at concessional rates. Development Solution IBRD blends US$200 in concessional financing from the Climate Technology Fund (CTF) with US$150 million from IBRD. Blending two sources of financing reduces overall interest burden, enabling project s implementation IBRD loan flexible terms provide option to request disbursements in either US dollar or Mexican peso, at fixed or floating rate Repayment schedule customized to allow Mexico to pay principal in increasing installments as project revenues materialize Outcome Mexico mobilizes necessary volume of funds at financial terms that meet its requirements to enable project s implementation. Flexible terms of IBRD loan and embedded risk management options allow Mexico to manage interest rate, currency, and repayment risk. Co-financing scheme allows Bank and CTF to jointly support Mexico s efforts to take climate change agenda forward.
Customized Financial Solutions Energy Week. Banking and Debt Management Department (BDM) World Bank Treasury
Customized Financial Solutions Energy Week Banking and Debt Management Department (BDM) World Bank Treasury 1 Key messages A. Current financial crisis has severely restricted flow of credit from public
More informationIntegrated Risk Management Strategies: Example of Malawi Food Security Strategy
Integrated Risk Management Strategies: Example of Malawi Food Security Strategy Ekaterina Gratcheva Lead Financial Officer Banking and Debt Management World Bank Treasury egratcheva@worldbank.org From
More informationCatastrophe Risk Financing Instruments. Abhas K. Jha Regional Coordinator, Disaster Risk Management East Asia and the Pacific
Catastrophe Risk Financing Instruments Abhas K. Jha Regional Coordinator, Disaster Risk Management East Asia and the Pacific Structure of Presentation Impact of Disasters in developing Countries The Need
More informationFinancing Energy Projects
Financing Energy Projects ESMAP Renewable Energy Training October 9, 2012 Issam Abousleiman Head of Banking Products Financial Advisory and Banking Concepcion Aisa-Otin Financial Officer Financial Advisory
More informationInternational Bank for Reconstruction and Development
International Bank for Reconstruction and Development Management s Discussion & Analysis and Financial Statements June 30, 2014 SECTION I: EXECUTIVE SUMMARY 5 IBRD and the New World Bank Group Strategy
More informationData Sheet for the loans
Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized 36572 Data Sheet for the loans (Amount in millions of USD as of June 6,2006) Loan Number
More informationCTF/TFC.15/5 April 16, Meeting of the CTF Trust Fund Committee Washington D.C. Tuesday, May 12, Agenda Item 5
Meeting of the CTF Trust Fund Committee Washington D.C. Tuesday, May 12, 2015 CTF/TFC.15/5 April 16, 2015 Agenda Item 5 PROPOSAL FOR PRICING POLICIES FOR THE CTF TRUST FUND PROPOSED DECISION The CTF Trust
More informationInformation Sharing Event on Work Program for Loss and Damage
Information Sharing Event on Work Program for Loss and Damage Contribution from the World Bank Kanta Kumari Rigaud Lead Adaptation & PPCR Coordinator World Bank June 7, 2011 Bonn World Bank Approach to
More informationInternational Bank for Reconstruction and Development
International Bank for Reconstruction and Development Management s Discussion & Analysis and Condensed Quarterly Financial Statements September 30, 2009 (Unaudited) INTERNATIONAL BANK FOR RECONSTRUCTION
More informationWBG Infrastructure Response to the Crisis
WBG Infrastructure Response to the Crisis BA April 2009 BANK FOR INTERNATIONAL WORLD BANK 1 DEVELOPMENT RECONSTRUCTION AND Outline I. Context and Background II. Infrastructure and the Crisis III.WBG Response
More informationR I S K M A N A G E M E N T D I S C U S S I O N. October 2016
October 2016 Markets Today: Considerations for Public Sector Entities Markets have changed significantly over the last decade, specially after the 2008 crisis. Regulators around the world have increased
More informationPUBLIC CREDIT OFFICE MANAGING LIQUIDITY RISK THROUGH CONTINGENT LINES OF CREDIT
COSTA RICA: MANAGING LIQUIDITY RISK THROUGH CONTINGENT LINES OF CREDIT Juan Carlos Pacheco Director of Public Credit Department Ministry of Finance PUBLIC CREDIT OFFICE 2 Costa Rica & World Bank: A Partnership
More informationPublic Disclosure Copy. Implementation Status & Results Report Costa Rica Catastrophe Deferred Draw Down Option (CAT DDO) (P111926)
Public Disclosure Authorized LATIN AMERICA AND CARIBBEAN Costa Rica Social, Urban, Rural and Resilience Global Practice Global Practice IBRD/IDA Development Policy Lending FY 2009 Seq No: 14 ARCHIVED on
More informationIBRD Lending Rates and Spreads Applicable July 1, 2014
Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized From: The President July 24, 2014 I. Introduction IBRD Lending Rates and s Applicable
More informationLoss and Damage Associated with Climate Change Impacts The (possible) role of Disaster Risk Financing and Insurance
UNFCC regional expert meeting on loss and damage August 27 29, 2012 Bangkok, Thailand Loss and Damage Associated with Climate Change Impacts The (possible) role of Disaster Risk Financing and Insurance
More informationThe WB Clean Technology Fund MENA Renewable Energy Program
The WB Clean Technology Fund MENA Renewable Energy Program Mohab Hallouda Sr. Energy Specialist MENA Energy and Transport Unit World Bank RCREEE/MED EMIP Joint Event Regional Challenges to Green the Power
More informationManagement s Discussion and Analysis and Consolidated Financial Statements June 30, 2016
Management s Discussion and Analysis and Consolidated Financial Statements June 30, 2016 Page 2 Management s Discussion and Analysis June 30, 2016 Contents Page I Executive Summary... 4 II Client Services...
More informationConversion of Financial Terms of IBRD and IDA Loans and Financing Instruments (illustrative examples)
Bank Guidance Conversion of Financial Terms of IBRD and IDA Loans and Financing Instruments (illustrative examples) Bank Access to Information Policy Designation Public Catalogue Number TRE7.02-GUID.104
More informationWe have shown that there is a wide gap between present
8 An Agenda Going Forward We have shown that there is a wide gap between present actions and the potential of multilateral development banks to support their clients risk-management policies, although
More informationManagement s Discussion and Analysis and Condensed Consolidated Financial Statements March 31, 2018 (Unaudited)
Management s Discussion and Analysis and Condensed Consolidated Financial Statements March 31, 2018 (Unaudited) Page 2 Management s Discussion and Analysis March 31, 2018 CONTENTS Page I Introduction...
More informationManagement s Discussion and Analysis and Condensed Consolidated Financial Statements December 31, 2017 (Unaudited)
Management s Discussion and Analysis and Condensed Consolidated Financial Statements December 31, 2017 (Unaudited) Page 2 Management s Discussion and Analysis December 31, 2017 CONTENTS Page I Introduction...
More informationFinancial Terms and Conditions of Bank Financing. Bank Access to Information Policy Designation Public
Bank Policy Financial Terms and Conditions of Bank Financing Bank Access to Information Policy Designation Public Catalogue Number OPS5.09-POL.161 Issued May 2, 2017 Effective May 2, 2017 Retired June
More informationFROM BILLIONS TO TRILLIONS:
98023 FROM BILLIONS TO TRILLIONS: MDB Contributions to Financing for Development In 2015, the international community is due to agree on a new set of comprehensive and universal sustainable development
More informationFinancial Terms and Conditions of Grants and Concessional Loans
Financial Terms and Conditions of Grants and Concessional Loans GCF/B.08/11 7 October 2014 Meeting of the Board 14-17 October 2014 Bridgetown, Barbados Agenda item 11 Page b Recommended action by the Board
More informationManagement s Discussion and Analysis and Condensed Consolidated Financial Statements September 30, 2017 (Unaudited)
Management s Discussion and Analysis and Condensed Consolidated Financial Statements September 30, 2017 (Unaudited) Page 2 Management s Discussion and Analysis September 30, 2017 CONTENTS Page I Introduction...
More informationPublic Disclosure Copy. Implementation Status & Results Report Costa Rica Catastrophe Deferred Draw Down Option (CAT DDO) (P111926)
Public Disclosure Authorized LATIN AMERICA AND CARIBBEAN Costa Rica Social, Urban, Rural and Resilience Global Practice Global Practice IBRD/IDA Development Policy Lending FY 2009 Seq No: 15 ARCHIVED on
More informationPUBLIC DEBT MANAGEMENT. The Tunisian experience
PUBLIC DEBT MANAGEMENT The Tunisian experience 2 Summary Global context Some numbers Principal budget and debt indicators World Bank study in 2003 Debt management strategy World Bank I.D.F Grant Goal of
More informationManagement s Discussion and Analysis and Condensed Consolidated Financial Statements September 30, 2016 (Unaudited)
Management s Discussion and Analysis and Condensed Consolidated Financial Statements September 30, 2016 (Unaudited) Page 2 Management s Discussion and Analysis September 30, 2016 Contents Page I Introduction...
More informationAdaptation Committee: Workshop on the means of implementation for enhanced adaptation action. 2-4 March 2015 Wissenschaftszentrum, Bonn
Adaptation Committee: Workshop on the means of implementation for enhanced adaptation action 2-4 March 2015 Wissenschaftszentrum, Bonn The way disaster response in Africa has worked for over 60 years Household
More informationPROPOSED FINANCING PRODUCTS, TERMS AND CONDITIONS FOR PUBLIC SECTOR OPERATIONS OF THE CLEAN TECHNOLOGY FUND 1 2
CIF/DM.1/Inf. 4 February 28, 2008 First Donors Meeting on Climate Investment Funds Paris, March 4-5, 2008 PROPOSED FINANCING PRODUCTS, TERMS AND CONDITIONS FOR PUBLIC SECTOR OPERATIONS OF THE CLEAN TECHNOLOGY
More informationIFC s Climate Business
IFC s Climate Business Doing Business at IFC in a Climate-Smart Way Financing Energy Efficiency CIF Partnership Forum June 2014 Agenda Introducing IFC IFC s Blended Finance Financing Resource Efficiency
More informationPublic Disclosure Copy. Implementation Status & Results Report Costa Rica Catastrophe Deferred Draw Down Option (CAT DDO) (P111926)
Public Disclosure Authorized LATIN AMERICA AND CARIBBEAN Costa Rica Social, Urban, Rural and Resilience Global Practice Global Practice IBRD/IDA Development Policy Lending FY 2009 Seq No: 13 ARCHIVED on
More informationOverview of Financial Intermediary Funds
CHAPTER 4 Overview of Financial Intermediary Funds 4.1 Introduction 157 4.2 Examples of Financial Intermediary Funds 157 4.3 The World Bank s Role in Financial Intermediary Funds 160 4.4 Characteristics
More informationPeru: Capital Market and Infrastructure Themes
Latin America Capital Markets Origination August, 214 Peru: Capital Market and Infrastructure Themes John Greenwood Peru Market Themes Macroeconomic Stability and Growth 1 2 Macro Fundamentals Micro Fundamentals
More informationGlobal Economic Prospects: Navigating strong currents
Global Economic Prospects: Navigating strong currents Andrew Burns World Bank January 18, 2011 http://www.worldbank.org/globaloutlook Main messages Most developing countries have passed with flying colors
More informationInternational Bank for Reconstruction and Development
International Bank for Reconstruction and Development Management s Discussion & Analysis and Condensed Quarterly Financial Statements December 31, 2018 (Unaudited) Management s Discussion and Analysis
More informationClimate Finance: Sources of Funding and Instruments
Climate Finance: Sources of Funding and Instruments Inter-American Development Bank Infrastructure and Environment Sector Climate Change and Sustainability Division Where are we right now? http://www.climatefundsupdate.org/
More informationOur Expertise. IFC blends investment with advice and resource mobilization to help the private sector advance development.
Our Expertise IFC blends investment with advice and resource mobilization to help the private sector advance development. 76 IFC ANNUAL REPORT 2016 Where We Work As the largest global development institution
More informationManagement s Discussion and Analysis and Condensed Consolidated Financial Statements December 31, 2015 (Unaudited)
Management s Discussion and Analysis and Condensed Consolidated Financial Statements December 31, 2015 (Unaudited) Page 2 Management s Discussion and Analysis December 31, 2015 Contents Page I Introduction...
More informationCTF/TFC/12/9 October 12, Meeting of the CTF Committee Washington D.C. October 28, Agenda Item 10
Meeting of the CTF Committee Washington D.C. October 28, 2013 CTF/TFC/12/9 October 12, 2013 Agenda Item 10 USE OF LOCAL CURRENCY FOR PRIVATE SECTOR PROJECTS UNDER THE CTF TRUST FUND: PROPOSED TOOLS AND
More informationManagement s Discussion and Analysis and Condensed Consolidated Financial Statements September 30, 2018 (Unaudited)
Management s Discussion and Analysis and Condensed Consolidated Financial Statements September 30, 2018 (Unaudited) Page 2 Management s Discussion and Analysis September 30, 2018 CONTENTS Page I Introduction...
More information2013 China Development Forum survey report. Choosing China: Insights from multinationals on the investment environment
2013 China Development Forum survey report Choosing China: Insights from multinationals on the investment environment Target growth markets Which three of these key markets would you invest in? Source:
More informationExecutive Board Meeting. 21 September 2011
Executive Board Meeting September Global economic growth GDP growth. Four-quarter change. Q Q - US Euro area Emerging economies¹) Emerging Asian economies¹) - - - 8 ) GDP-weighted (PPP) Sources: IMF, Thomson
More informationInnovative financial solutions for implementing debt and risk management strategies: The case of Uruguay
SOVEREIGN DEBT MANAGEMENT FORUM October 19th & 20th 2016 Washington DC, US Innovative financial solutions for implementing debt and risk management strategies: The case of Uruguay Herman Kamil Debt Management
More informationINTERNATIONAL FINANCE CORPORATION
Management s Discussion and Analysis and Condensed Consolidated Financial Statements September 30, 2010 Page 2 MANAGEMENT S DISCUSSION AND ANALYSIS September 30, 2010 Contents Page I Overview... 3 II Financial
More informationAfrican Risk Capacity. Sovereign Disaster Risk Solutions A Project of the African Union
African Risk Capacity Sovereign Disaster Risk Solutions A Project of the African Union The Way Disaster Assistance Works Now EVENT ASSESS APPEAL FUNDING RESPONSE CNN EFFECT time The Way Disaster Assistance
More informationINTERNATIONAL FINANCE CORPORATION
Management s Discussion and Analysis and Condensed Consolidated Financial Statements December 31, 2010 Page 2 MANAGEMENT S DISCUSSION AND ANALYSIS December 31, 2010 Contents Page I Overview... 3 II Financial
More informationAccrual concepts are vital to manage Fiscal Risks
Accrual concepts are vital to manage Fiscal Risks Sudarshan Gooptu (Global Lead, Fiscal Policy, Macroeconomics and Fiscal Management Global Practice) IMF/IPSASB/WBG Conference on Transparency and Beyond:
More informationAfrica and the 2030 Sustainable Development Agenda: the Role of Financial Markets
Africa and the 2030 Sustainable Development Agenda: the Role of Financial Markets Dr. Mahmoud Mohieldin Senior Vice President World Bank Group 1 21st ANNUAL CONFERENCE OF THE AFRICAN SECURITIES EXCHANGES
More informationSignificant increase in private sector financing of the SDGs benefitting poor and vulnerable people.
Background Launched in 2015, The Rockefeller Foundation s Zero Gap portfolio supports the R&D and piloting of new financing mechanisms to mobilize private sector capital towards the Nations (UN) Sustainable
More informationClean Technology Fund (CTF) Proposal for CTF 2.0
Clean Technology Fund (CTF) Proposal for CTF 2.0 Outline Clean Technology Fund: 2008 to 2016 The Journey so far Changing climate in a changing world SDGs, Paris Agreement Unique opportunity Use of assets
More informationJULY 2010 USD 600 MM MATURITY 2016 EUR 100 MM COP 111,980 MM MATURITY 2014 AUGUST 2008 CHF 200 MM MATURITY 2013 MXN 750 MM
DECEMBER 2010 USD 50 MM NOVEMBER 2010 EUR 400 MM NOVEMBER 2010 CHF 250 MM 192 MATURITY 2018 MATURITY 2015 OCTOBER 2010 JPY 4,600 MM JULY 2010 USD 600 MM MAY 2010 USD 74 MM MATURITY 2015 MATURITY 2016 MARCH
More informationQuick Reference Guide Loan Handbook for World Bank Borrowers. February 2017
Quick Reference Guide Loan for World Bank Borrowers February 2017 Abbreviations and Acronyms ARM ASD BSA BTF stg CPL CTF DDO DLI DPF DSA EEC Euro FEF FSL GNI HIPC Initiative IBRD IDA IFL Average repayment
More informationThe African Development Bank Group. Financial Products and Services. BOS Presentation. March 22, 2018
The African Development Bank Group Financial Products and Services BOS Presentation March 22, 2018 OUTLINE OF THE PRESENTATION 1 2 3 The Bank Group Syndications, Co-financing and Client Solutions Department
More informationManagement s DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
206 2014 CAF ANNUAL REPORT Management s DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION Summary of financial statements Loan Portfolio Liquid assets Funding Capital Asset Liability Management CAF ANNUAL
More informationINTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT. Global Debt Issuance Facility. No. 4596
INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT Global Debt Issuance Facility No. 4596 USD 12,000,000 Notes linked to UYU/USD FX and the Republica AFAP Dynamic Index (Third Series) due 2026 JPMorgan
More informationInternational Bank for Reconstruction and Development
International Bank for Reconstruction and Development Management s Discussion & Analysis and Condensed Quarterly Financial Statements September 30, 2017 (Unaudited) Management s Discussion and Analysis
More informationSTRENGTHENING THE WORLD BANK S ENGAGEMENT WITH IBRD PARTNER COUNTRIES IMPLEMENTATION REPORT
DEVELOPMENT COMMITTEE (Joint Ministerial Committee of the Boards of Governors of the Bank and the Fund On the Transfer of Real Resources to Developing Countries) INTERNATIONAL BANK FOR WORLD BANK RECONSTRUCTION
More informationConvención de Finanzas y Mercado de Capitales 2013
Citi Equity Capital Markets October 29, 2013 Convención de Finanzas y Mercado de Capitales 2013 1 1. Global Markets 2 Price Performance (%) GDP Growth (%) Global Environment at Inflection Point Developed
More informationBuilding climate smart real estate & infrastructure into your portfolio
Building climate smart real estate & infrastructure into your portfolio presentation to IFSWF members by Paul Clements-Hunt The Blended Capital Group June 20, 2017 What the presentation will cover: The
More informationOur Expertise. IFC blends investment with advice and resource mobilization to help the private sector advance development.
Our Expertise IFC blends investment with advice and resource mobilization to help the private sector advance development. Where We Work As the largest global development institution focused on the private
More informationPotential Sources of Financing : Step 3 Joint Vienna Institute, Vienna, Austria February 23 27, 2015
Potential Sources of Financing : Step 3 Joint Vienna Institute, Vienna, Austria February 23 27, 2015 Step 3: Potential Instruments & Characteristics Objective Identify potential sources of finance, their
More informationSummary of the Co-Chairs Meeting of the Clean Technology Fund Trust Fund Committee October 28-29, Co-Chairs
November 5, 2013 Summary of the Co-Chairs Meeting of the Clean Technology Fund Trust Fund Committee October 28-29, 2013 Co-Chairs Artur Cardoso de Lacerda, Brazil Kate Hughes, United Kingdom AGENDA ITEM
More informationIDA Terms (Effective as of April 1, 2016)
IDA Terms (Effective as of April 1, 2016) Grace Principal Repayments i/ Maturity b/ Period Year 7-20 Year 21-38 Acceleration Clause c/ Grants a/ NA NA NA NA NA Regular d/ 38 6 3.125% 3.125% Yes Blend e/
More informationINTERNATIONAL FINANCE CORPORATION
Management s Discussion and Analysis and Condensed Consolidated Financial Statements September 30, 2012 (Unaudited) Management s Discussion and Analysis Page 2 September 30, 2012 Contents Page I Introduction...
More informationThe Clean Technology Fund. U.S. Treasury Department. June 2008
The Clean Technology Fund U.S. Treasury Department June 2008 Clean Technology Fund Overview Why What Who How much How When 1 Why? By 2030, 80% of GHG emission growth is expected to come from non-oecd countries,
More informationINTERNATIONAL FINANCE CORPORATION
Management s Discussion and Analysis and Consolidated Financial Statements June 30, 2012 Management s Discussion and Analysis Page 2 June 30, 2012 Contents Page I Overview of Financial Results... 3 II
More informationUNCTAD s Seventh Debt Management Conference. Addressing Debt Vulnerabilities: Role of Debt Strategies and Debt Managers A Policy Perspective
UNCTAD s Seventh Debt Management Conference 9-11 November 2009 Addressing Debt Vulnerabilities: Role of Debt Strategies and Debt Managers A Policy Perspective by Mr. Udaibir S. Das Monetary and Capital
More informationInternational Bank for Reconstruction and Development
International Bank for Reconstruction and Development Management s Discussion & Analysis and Condensed Quarterly Financial Statements September 30, 2014 (Unaudited) I NTERNATIONAL B ANK FOR R ECONSTRUCTION
More informationUruguay: Macroeconomic Outlook and Financing Strategies for February 1 st, 2018
Uruguay: Macroeconomic Outlook and Financing Strategies for 2018 February 1 st, 2018 Key Highlights of the Uruguayan Economy 1. Robust macroeconomic performance and better outlook for the region 2. Decelerating
More informationFatou Assah. The World Bank. April 2012
Fatou Assah Senior Financial Sector specialist The World Bank April 2012 1 Contents 2 Disaster Risk Management Framework Disaster Risk Financing & Insurance Program Mainstream disaster risk financing and
More informationactsheet on Financing Solutions African Development Bank
actsheet on Financing Solutions African Development Bank This publication is part of the Future Radar Project funded by the H2020 framework of the European Commission Author Editor Berlin, 2018 UEMI Secretariat
More informationCOUNCIL OF THE EUROPEAN UNION. Brussels, 11 May /10 ECOFIN 249 ENV 265 POLGEN 69
COUNCIL OF THE EUROPEAN UNION Brussels, 11 May 2010 9437/10 ECOFIN 249 ENV 265 POLGEN 69 NOTE from: to: Subject: The General Secretariat of the Council Delegations Financing climate change- fast start
More informationInternational Bank for Reconstruction and Development
International Bank for Reconstruction and Development Management s Discussion & Analysis and Condensed Quarterly Financial Statements December 31, 2014 (Unaudited) I N T E R N A T I O N A L B A N K F
More informationCLIMATE INVESTMENT FUNDS
CLIMATE INVESTMENT FUNDS CTF/TFC.1/4 November 03, 2008 First Meeting of the CTF Trust Fund Committee Washington, D.C. November 17-18, 2008 CLEAN TECHNOLOGY FUND FINANCING PRODUCTS, TERMS, AND REVIEW PROCEDURES
More informationStructuring Term Loans How to Manage Interest Rate and Credit Risk
Structuring Term Loans How to Manage Interest Rate and Credit Risk April 2016 Which Banks Survive 16,000 Number of Banking Charters 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0 1992 1997 2002 2007 2012
More informationMARKET-BASED PROJECT COFINANCING
Distribution: Restricted EB 2000/71/R.10 1 November 2000 Original: English Agenda Item 6 English IFAD Executive Board Seventy-First Session Rome, 6-7 December 2000 MARKET-BASED PROJECT COFINANCING I. INTRODUCTION
More informationCarbon Finance Unit, The World Bank Washington, DC - March, 2008
Carbon Finance addressing Climate Change Carbon Finance Unit, The World Bank www.carbonfinance.org Washington, DC - March, 2008 1 After 10-y catalyzing the C- market, what s next to scale up CF and support
More informationSTATUS OF PROJECTS IN EXECUTION FY09 SOPE
Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized STATUS OF PROJECTS IN EXECUTION FY09 SOPE COUNTRY: GUATEMALA Public Disclosure Authorized Operations Policy and Country
More informationLiquidity & Treasury Management Conference. Reporting to the Board Writing a Winning Treasury Report
Liquidity & Treasury Management Conference Reporting to the Board Writing a Winning Treasury Report Martin Watts Head of Treasury, L&Q email: mwatts@lqgroup.org.uk Introduction Post TSA abolishment, the
More informationIBRD Lending Rates and Spreads Applicable January 1, 2013
From: The President January 30, 2013 I. Introduction IBRD Lending Rates and Spreads Applicable January 1, 2013 IBRD semi-annually provides an update of the lending rates and spreads by loan product as
More informationInternational Bank for Reconstruction and Development
International Bank for Reconstruction and Development Management s Discussion & Analysis and Condensed Quarterly Financial Statements 2010 (Unaudited) INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT
More information5-yr Investment Grade Corporate CDS Markit (bps) 500
Treasury Yield Curve (percent) 2-yr/1-yr Treasury Spread (bps) % 7. 35 6. 3 25 5. 2 4. 15 3. 2. 1. Treasury Curve 'A' Composite 1 5-5. 1-yr 5-yr 1-yr 3-yr The Treasury yield curve is derived from available
More informationConversion of Financial Terms of IBRD and IDA Loans and Financing Instruments. Bank Access to Information Policy Designation Public
Bank Directive Conversion of Financial Terms of IBRD and IDA Loans and Financing Instruments Bank Access to Information Policy Designation Public Catalogue Number TRE7.02-DIR.102 Issued July 11, 2018 Effective
More informationLatin America and Caribbean Region. Volume 1 Number 2. Public Disclosure Authorized. Public Disclosure Authorized. Public Disclosure Authorized
Operational Innovations In Latin America and the Caribbean IBRD Banking Products: Achieving Results in Latin America and the Caribbean Region Public Disclosure Authorized Public Disclosure Authorized Public
More informationAsset Strategy for Matching Adjustment Business Challenges and Choices
This document is intended for use at the Insurance Investment Exchange event only. Not for onward distribution. Asset Strategy for Matching Adjustment Business Challenges and Choices June 2016 Agenda Background
More information2012 Development Policy Lending Retrospective
2012 Development Policy Lending Retrospective Emerging Findings and Issues Operational Policy and Quality Department The World Bank July 2012 Outline Content and Issues Key trends Contribution to country
More informationGlobal Emerging Markets Fixed Income
Global Emerging Markets Fixed Income Amanda La Marca Product Specialist, Emerging Market Debt only intended for professional investors as defined by MiFID US$ billions AMFR_Ext_103_2014 2013 inflows into
More informationShort exposure to US equities
Portfolio performance The All Asset Fund aims to serve as a differentiated asset allocation strategy. It focuses on third pillar assets in seeking three key outcomes: 1) long-term real return consistent
More informationInternational Bank for Reconstruction and Development
International Bank for Reconstruction and Development Management s Discussion & Analysis and Condensed Quarterly Financial Statements December 31, 2016 (Unaudited) I N T E R N A T I O N A L B A N K F
More informationGOVERNANCE FRAMEWORK FOR THE CLEAN TECHNOLOGY FUND. November, 2008
GOVERNANCE FRAMEWORK FOR THE CLEAN TECHNOLOGY FUND November, 2008 Table of Contents A. Introduction B. Purpose and Objectives C. Types of Investment D. Financing under the CTF E. Country Access to the
More informationGOVERNANCE FRAMEWORK FOR THE CLEAN TECHNOLOGY FUND
June 2014 GOVERNANCE FRAMEWORK FOR THE CLEAN TECHNOLOGY FUND Adopted November 2008 and amended June 2014 Table of Contents A. Introduction B. Purpose and Objectives C. Types of Investment D. Financing
More informationShort exposure to US equities, used as a risk hedge. Exposure to commodities
Portfolio performance The Fund is designed to serve as a Third Pillar strategy, aiming to provide a diversified return stream versus traditional stock/bond-centric approaches. In seeking a long-term real
More informationSession 4 Status of Climate Finance in the Philippines
Session 4 Status of Climate Finance in the Philippines Workshop on Corruption Risks and Anti- Corruption Strategies in Climate Finance Manila, Philippines 25 to 27 May 2015 Summary of Day 1 2 Session objective
More informationThe Sustainable Development Commitments Mobilizing Resources for Implementing the SDGs Anne Bakilana Program Leader World Bank Group
The Sustainable Development Commitments Mobilizing Resources for Implementing the SDGs Anne Bakilana Program Leader World Bank Group @wbg2030 worldbank.org/sdgs Symposium on Governance for Implementing
More informationFinancial Crisis and Global Recession: At a Turning Point?
Financial Crisis and Global Recession: At a Turning Point? Richard Newfarmer Special Representative to UN and WTO World Bank Cairo June 15, 2009 Main messages Recession in the US now appears to be bottoming
More informationI N T R O D U C T I O N T O T A X - E X E M P T B O N D S
I N T R O D U C T I O N T O T A X - E X E M P T B O N D S July 2010 S T R I C T L Y P R I V A T E A N D C O N F I D E N T I A L This material is not a product of the Research Departments of J.P. Morgan
More informationBuilding a Zero Coupon Yield Curve
Building a Zero Coupon Yield Curve Clive Bastow, CFA, CAIA ABSTRACT Create and use a zero- coupon yield curve from quoted LIBOR, Eurodollar Futures, PAR Swap and OIS rates. www.elpitcafinancial.com Risk-
More informationInternational Bank for Reconstruction and Development
International Bank for Reconstruction and Development Management s Discussion & Analysis and Condensed Quarterly Financial Statements September 30, 2018 (Unaudited) Management s Discussion and Analysis
More informationFinancial Solutions for Risk Management. Sovereign Debt Management Forum Washington DC October 20, 2016
Financial Solutions for Risk Management Sovereign Debt Management Forum Washington DC October 20, 2016 Uninsured losses from natural catastrophes are a growing burden for governments Natural catastrophe
More information