World Bank Guarantees for Oil and Gas Projects

Sinclair, Scott

World Bank, Washington, DC

关键词: PRIVATIZATION;    BANK GUARANTEES;    DEVELOPING COUNTRIES;    PRIVATE SECTOR PARTICIPATION;    OIL & GAS EXPLORATION;   

RP-ID  :  18717

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

Private investors are consideringseveral large-scale oil and gas production, pipeline, andcross-border pipeline projects in developing countries,including in West Africa and in the Caspian Sea region.While the World Bank and the International Monetary Fund arewell known for their work in helping to create enablingenvironments for foreign investment in large infrastructureprojects, by supporting reform in such areas as taxation andenergy legislation, this Note focuses on a different rolefor the World Bank -- encouraging private sector involvementin large-scale oil and gas projects by providing guaranteesin direct support of the government contractual undertakingsthat may be needed to induce foreign direct investment inthese projects. World Bank guarantees offer a unique type ofrisk mitigation that may prove to be a catalyst in raisingfinance for these projects.