AfDB Hosts Panel on Private Sector Engagement in CIF Operations
16 January 2013: The African Development Bank (AfDB) has released a summary of a panel discussion it hosted among representatives from government, international financial institutions, and the private sector on private sector investment in the operations of the Climate Investment Partnership (CIP). The panel took place during the CIF Partnership Forum in Istanbul, Turkey, on 7 November 2012.
On country actions, panelists discussed: public-private partnerships and procurement for South Africa's large-scale renewable energy programme; the expansion of solar, biofuels and other renewables in Thailand; and the combination of concessional funding and multilateral development bank financing for resource exploration in Kenya, specifically in relation to the country's Menengai geothermal project.
On global fiscal risk, panelists underscored the importance of risk-sharing mechanisms, “joined-up thinking” among government agencies and ministries, and the early identification of fiscal risk.
The panel stressed to the need for clear government targets and approaches to private sector investment, with backing from requisite government ministries. The panel further called for ensuring that funding is available throughout the project cycle and that public obligations do not create fiscal risk.
The AfDB-moderated panel included officials from the National Treasury of South Africa and the International Monetary Fund (IMF), alongside private sector representatives from the International Chamber of Commerce (ICCC), Trinity International LLP, Bangchak Petroleum Public Company Limited, and the Geothermal Development Corporation Kenya. [AfDB Press Release]