Wednesday, March 11, 2009
2:00 - 3:30 pm Chair:
Ms. Sonia Hammam, Sector Manager, EASIS Speakers:
Mr. Kamran Khan, Infrastructure Finance Advisor, EASOP
Ms. Kalpana Seethepalli, Infrastructure Economist, EASOP
Mr. Cuong Duc Dang, Sr. Operations Officer, EASVS Presentation (pdf) Objective:
In order to remain relevant and maintain its position as the development partner of choice to governments – particularly in MICs and other fast growing economies - the World Bank has to transition away from the traditional project-by-project approach towards strategic, long-term engagements which target specific areas of development importance in a country. This session described the approach that has been adopted to address infrastructure finance in Vietnam. The discussion focused on the Bank’s findings at each stage of the engagement and how they have influenced the design of the program. An important element of the proposed approach is the provision of cutting-edge technical assistance on policy and operational matters to be provided with the support of the newly established Global Expert Team (GET) on PPPs and Infrastructure. This session presented the technical details and operational parameters of the proposed design, including the need to: Design mechanisms to combine multiple channels of finance (public finances, private investments, ODA resources) to help finance infrastructure Gradually transition the country towards a more efficient PPP financing system in measured steps Help the government prepare detailed regulations, guidance and procedures to implement PPP laws and other procedures necessary to allow the new system to function Create national awareness about the need for government to provide subsidies to help PPPs reach financial close; and establish a transparent system for the government to provide such subsidies for well prepared PPP projects Develop risk management procedures to mitigate risk associated with PPP transactions Ensure that the Bank is providing best-in-class advice and assistance, customized for the Vietnamese context
Mr. Kamran Khan is the Infrastructure Finance Adviser in the Sustainable Development Department of the East Asia and Pacific Region (EAP). Mr. Khan leads lending operational as well as AAA and other advisory engagements in EAP, and is the Coordinator for the IFC-WB Sub-National Finance program in EAP. He leads the EAP Infrastructure Finance Practice Group, and is a member of the WB’s Global Expert Team (GET) on PPPs and Infrastructure. Mr. Khan has worked in the private sector focusing on investment banking and advisory services with JP Morgan, Goldman Sachs, LEK, and First American Bankshares. He has also served as a U.S. Foreign Service Officer in the U.S. Agency for International Development (USAID), where he managed infrastructure projects in South Asia, Eastern Europe, Central Asia and Latin America, and was the team leader of USAID’s global project finance and guarantee facility. Mr. Khan’s experience includes transactions involving municipal bonds, asset securitization, project finance, privatization, mergers and acquisitions, and buy-outs and other private equity investments. Mr. Khan has a MBA from the University of Chicago, and a MS in Applied Economics and a MGA in Government Administration from the University of Pennsylvania. He received a BS in Economics from George Mason University. Ms. Kalpana Seethepalli is an Infrastructure Economist with the East Asia Sustainable Development Department. She has worked extensively on infrastructure finance, regulation, and Public Private Partnerships. She is currently working to devise modalities of government financial support to infrastructure PPPs in Vietnam, as well as coordinating the East Asia and Pacific Region’s effort on infrastructure and the financial crisis. She also worked on post-Tsunami infrastructure reconstruction in Aceh, Indonesia. Before joining the Bank in DC, she was an Economic Operations Analyst at the World Bank’s office in New Delhi where she conducted fiscal modeling for economic restructuring operations, as well as fiscal sustainability and institutional risk analyses for a number of projects in India. Kalpana has a Masters degree in Economics from the Delhi School of Economics. She holds a Ph.D. in Strategic Management & Public Policy from the George Washington University where she studied risk-mitigating strategies employed by private investors in developing countries that liberalized their electricity sectors. Mr. Cuong D. Dang is a Senior Infrastructure Specialist at the World Bank Office in Hanoi. He has been a key member of various teams processing multiple WB financed projects totaling more than $2 bn investment. He did AAA on infrastructure finance and urban development strategy, and advised first municipal bond issuances in the country. He has also worked extensively in project finance, financial intermediaries, investment funds, regulatory policies, and capacity building. Cuong D. Dang joined the Bank in 1998. He has a PhD from Vietnam’s National University of Transport and Communications, and holds a MSc in Finance from the University of London.
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