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A practical guide to managing fiscal risk in privately financed infrastructure projects. This resource helps governments make informed decisions about offering guarantees, which can be essential for attracting private investment but pose significant fiscal risks. Drawing on finance, history, economics, and psychology, it reviews the history of government guarantees and identifies cognitive and political obstacles to good decisions. It develops a framework for judging when governments should bear risk, explains how to value guarantees, and discusses public-sector management modifications to improve decision quality. Benefits include: * Improved risk allocation in public-private partnerships * Better management of fiscal risks * Enhanced decision-making regarding guarantees This is for governments, policymakers, infrastructure investors, and public finance professionals seeking to optimize infrastructure financing and manage fiscal exposure.

Why does development progress in some places but not others? Very often, the distinguishing factor is not a lack of financial resources or of knowledge about the right technical solution. Governments may decide to allocate agricultural services to their core supporters or to key swing voters and to deny them to others, thereby reducing the incentive for farmers to seek increases in productivity. Social health insurance benefits may be extended ahead of elections, but removed once elections have taken place. At the same time, political incentives play a powerful role not only in frustrating development efforts, but also in shaping opportunities for change. Often, there are various stakeholders-within government, in the private sector, and in civil society-who want to change what government does for the better. However, in many situations, advice based on technically optimal solutions is not that helpful for potential reformers because such solutions may not be politically feasible nor may even backfire and have unintended negative consequences. The general problem that political incentives are frequently at odds with a technocratic approach to development has long been recognized. Politicians prefer policies and seek institutional changes that support their current needs, including exigencies such as horse trading when negotiating over policies with other powerful stakeholders or designing intergovernmental relations with a view to maintaining some form of centralized control, rather than optimizing service delivery. At the same time, the interests of politicians can also broadly converge with development objectives, such as seeking to deliver growth, jobs, or social protection benefits as a way to secure legitimacy or reelection. This book is a result from a systematic effort at taking stock of what the World Bank has learned from its efforts to mainstream Political Economy Analysis (PEA). The effort included an open invitation to staff members active in the area to submit their work for presentation and discussion at a 2012 review conference. The goal was to identify work that was strong analytically and that provided practical recommendations that resulted in action. The book is thus intended to illustrate (and reflect on) what the Bank has been able to achieve in this area so far and to help others learn more about how PEA perspectives can be effectively integrated into development approaches.

This work provides a structured process for determining the commercial viability of large construction projects - from gas pipelines and bridges to hospitals and schools - procured with project finance (PF). With this guide, readers can develop their own assessment structures as required using the assessment mechanism described.

\"Green Infrastructure Implementation provides actionable information that promotes the implementation of green infrastructure. Unlike most publications, which focus on technical design of individual green elements, this book tackles topics that relate directly to the ability to implement green infrastructure. The collection of programmatic and planning topics is unique in current literature, and covers a range of issues from stormwater to public education. Green Infrastructure Implementation identifies obstacles and provides guidance in possible approaches to overcoming them at the programmatic level. It also provides clear and actionable suggestions as to the selection and planning of green infrastructure at different scales and identifies considerations for implementation based on type of practice and specific geographic considerations. Each topic details an assessment of barriers and potential challenges and includes case studies that show how they can be addressed\"--Provided by publisher.

This book provides actionable information that promotes the implementation of green infrastructure. Unlike most publications, which focus on technical design of individual green elements, this book tackles topics that relate directly to the ability to implement green infrastructure. The collection of programmatic and planning topics is unique in current literature, and covers a range of issues from stormwater to public education. This book identifies obstacles and provides guidance in possible approaches to overcoming them at the programmatic level. It also provides clear and actionable suggestions as to the selection and planning of green infrastructure at different scales and identifies considerations for implementation based on type of practice and specific geographic considerations. Each topic details an assessment of barriers and potential challenges and includes case studies that show how they can be addressed.