Cofinancing of World Bank Projects: Problems and Prospects
نویسندگان
چکیده
In this thesis we examine the cofinancing of World Bank projects with commercial banks in the context of the current international debt crisis. After describing the institutions involved, with particular emphasis on the World Bank, we review the history of cofinancing with commercial banks. We then describe the controversy that has existed between the World Bank and commercial banks and present the World Bank's proposal for resolving it. We take a critical look at what commercial lenders and the World Bank perceive to be the benefits of cofinancing, including its impact on the borrower countries. There are two critical factors that have contributed to the development of the current debt crisis: the volatility of debt repayment structures and the high incidence of full-recourse lending. We evaluate cofinancing, as it has been practiced and as it has recently been revised by the World Bank, in light of these factors. We introduce possible enhancements to the proposed cofinancing mechanisms, through alternative financial instruments and project financing arrangements. We then simulate the effect of four hypothetical instruments: the standard commercial bank loan, one of the World Bank's options, and two options we propose. Thesis Supervisor: Dr. Donald R. Lessard Title: Associate Professor of Management
منابع مشابه
Internet Banking Law: An Iranian Perspective Problems and Prospects of Introducing Islamic Microfinance in Azerbaijan Republic
Bank supervision and monetary policy are strategic concepts in the economy of countries. Development of electronic communications, especially in online and international spheres, has largely threatened financial services in view of security and illegal access to banking networks. Anonymity and identity theft has endangered electronic commerce by crimes like phishing, fraud and different types...
متن کاملProspects and Problems of Non-Governmental Organizations in Poverty Alleviation and Community Development in Gombe State, Nigeria
The World Bank sponsored Millennium Development Goals (MDGs), launched in 1990 envisaged a world free of poverty by the year 2015. The North-East (where Gombe State is centrally located) is experiencing significantly higher poverty and lack of progress in poverty reduction efforts. With coming to end of 2015, much still need to be done to attain the MDGs. With over 62.6% Nigerian population sti...
متن کاملPublic Health Surveillance: Questions and Answers
The audience for this toolkit is World Bank Task Managers and their counterparts in other organizations—those who, in response to requests, go to countries, assess the problems, design projects to address these problems, and implement or supervise these projects. Most World Bank staff are already overloaded with work and do not have the time to read material that is impractical or researchorien...
متن کاملThe Search for Underlying Principles of Health Impact Assessment: Progress and Prospects; Comment on “Investigating Underlying Principles to Guide Health Impact Assessment”
Health Impact Assessment (HIA) is a relatively young field of endeavour, and hence, future progress will depend on the planning, implementation and rigorous evaluation of additional HIAs of projects, programmes and policies the world over. In the June 2014 issue of the International Journal of Health Policy and Management, Fakhri and colleagues investigated underlying principles of HIA through ...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
عنوان ژورنال:
دوره شماره
صفحات -
تاریخ انتشار 2009