31 de mayo de 2020
ÚLTIMAS NOTICIAS:
Hispanic World

Latin America needs mature infrastructure projects to attract investment

Punta Cana (Dominican Republic), May 14 (EFE).- There is a bottleneck of infrastructure development in Latin America caused by a shortage of mature projects, according to an Inter-American Development Bank (IDB) boss.

 Photo courtesy of the Inter-American Development Bank (IDB), where the Vice President of Countries development, Alexandre Meira da Rosa, will appear on Wednesday to present the opening speech of the Americas PPP Forum with Donald Guerrero Ortiz, Dominican Minister of Finance. EPA-EFE / BID / ONLY EDITORIAL USE / NO SALES

Photo courtesy of the Inter-American Development Bank (IDB), where the Vice President of Countries development, Alexandre Meira da Rosa, will appear on Wednesday to present the opening speech of the Americas PPP Forum with Donald Guerrero Ortiz, Dominican Minister of Finance. EPA-EFE / BID / ONLY EDITORIAL USE / NO SALES

Punta Cana (Dominican Republic), May 14 (EFE).- There is a bottleneck of infrastructure development in Latin America caused by a shortage of mature projects, according to an Inter-American Development Bank (IDB) boss.

Alexandre Meira da Rosa, vice president of Inter-American Development Bank (IDB) Countries department, said before a Public-Private Partnerships (PPP) Americas Forum in the Dominican Republic that there is no lack of interested private investors.

"The bottleneck of infrastructure development in the region is not financing, there is no shortage of private resources interested in investing, projects are missing," he told Efe.

The 2019 PPP Americas Forum, organized by IDB, will bring together public authorities and interested investors on May 15 and 16 in Punta Cana, in the northeast of the Dominican Republic.

Meira de Rosa will give the keynote speech of the conference on Wednesday along with Donald Guerrero Ortiz, Dominican finance minister.

According to IDB estimates, Latin America needs to invest five percent of GDP in public infrastructure, which means mobilizing an additional $1 billion per year.

"The problem of infrastructure is not financing, the problem is how to attract that financing and one of the key points are mature projects," he said.

Meira da Rosa argued that the role of this type of mechanisms for the provision of services, where the state and the private sector share both investments and risks, "is especially important when closing that gap."

He described Latin America as "one of the regions in the world where this relationship has been the most, although it seems incredible, what happens is that this participation has occurred unevenly in time and in countries."

"In the 1990s it attracted substantial private investments, but very concentrated in some sectors, such as telecommunications, transport and energy, as well as in certain countries: Brazil, Argentina, Mexico and Colombia," he added.

He continued that the impact of the multilateral agency "is not only to finance the project, it is above all to support the government to develop a good law and create the institutions they need to manage that private participation."

"Normally governments approach us and tell us that they want help to finance a project," he added.

"The advantage of the IDB, as it is a public body, is that it gives us a position of being able to tell the truth, we are not a for-profit institution."

The main question is whether infrastructure is really "necessary" and "if the answer is yes, we see if the public-private partnership is the best option, because sometimes a public work is better traditional," according to Meira de Rosa.

"If we believe that the PPP is a good solution, we sit down with the government to see if they have the institutional framework and the regulatory framework necessary to take the project forward, which is usually long-term," he added.

"Throughout the process, we also provide training."

The IDB has participated in a number of PPPs in the region, including the Reventazón hydroelectric plant in Costa Rica and the TIC rail network project in Brazil.

Meira da Rosa said that "the great challenge is to build a channel in each of the countries with good projects to attract the private sector", since PPPs involve "more complex projects in the allocation of risks, structuring of funding and the legal framework is much more sophisticated."

He also highlighted one of the "fundamental" roles of the IDB as "support in leveraging."

"When we are going to finance such a project, the investors look at us, they believe that if we are entering there is a seal of quality that this project was not only well structured and also involves other aspects such as environmental or social issues," he said.

"Where we enter with 100, there are another 500 behind who would not enter, which shows our ability to be a platform for other investors, which is another added value."

Histórico de noticias
Daily COVID-19 pandemic roundup: May 28

Miami Desk, May 28 (efe-epa).- Here's a roundup of stories around the world related to the novel coronavirus pandemic:

With 101,000 deaths, US still unable to slow spread of coronavirus

Washington, May 28 (efe-epa).- The United States, now with more than 101,000 official deaths from Covid-19, on Thursday still has not been able to halt the...

FBI giving top priority to black man's death at hands of Minneapolis police

Washington, May 28 (efe-epa).- The US Department of Justice and the FBI on Thursday issued a joint statement saying that they will undertake a "robust...

Migrants held in US detention centers at the mercy of COVID-19

By Alex Segura Lozano and Laura Barros

Daily COVID-19 pandemic roundup: May 27

Miami Desk, May 27 (efe-epa).- Here's a roundup of stories around the world related to the novel coronavirus pandemic:

NASA-SpaceX launch to International Space Station scrubbed due to weather

Miami, May 27 (efe-epa).- The historic launch of the NASA-SpaceX manned mission to the International Space Station from the Kennedy Space Center in Florida...

Brazil's economic engine announces responsible resumption of activities

By Maria Angelica Troncoso

Expert: Pandemic revealing labor exploitation as in US slavery period

By Jorge Ignacio Perez

Daily COVID-19 pandemic roundup: May 26

Miami Desk, May 26 (efe-epa).- Here's a roundup of stories around the world related to the novel coronavirus pandemic:

Florida expresses interest in hosting GOP conclave if Trump cancels NC event

Miami, May 26 (efe-epa).- Florida's Republican governor, Ron DeSantis, said that his state would love to host the Republican National Convention this summer...

Brazil, its image abroad marred, suffering record capital flight

By Carla Samon Ros

FBI investigating death of black man arrested by white cop

(Update: Adds identity of victim, firing of 4 police officers)

Daily COVID-19 pandemic roundup: May 25

Miami Desk, May 25 (efe-epa).- Here's a roundup of stories around the world related to the novel coronavirus pandemic:

Americans flock to beaches on Memorial Day amid health personnel's concerns

By Alfonso Fernandez

Stranded Colombians send out SOS from Sao Paulo airport

By Carlos Meneses Sanchez

Bogota's Teatro Mayor celebrating 10th anniversary with digital focus

By Jaime Ortega Carrascal

Daily COVID-19 pandemic roundup: May 24

Miami Desk, May 24 (efe-epa).- Here's a roundup of stories around the world related to the novel coronavirus pandemic:

Long weekend puts US efforts to reopen to the test

Washington/Los Angeles, May 24 (efe-epa).- The long Memorial Day weekend is putting local plans around the US to ease coronavirus lockdown restrictions to...

South America's biggest economy at a crossroads due to pandemic

By Maria Angelica Troncoso

The voyage of the Whisper: Sailing with Covid-19 on board

By Ricardo Maldonado Rozo

Daily COVID-19 pandemic roundup: May 21

Miami Desk, May 21 (efe-epa).- Here's a roundup of stories around the world related to the novel coronavirus pandemic:

Covid-19 cases increasing in some US states as they reopen

By Susana Samhan

Trump pulls out of another arms treaty after accusing Russia of breaching it

Washington, May 21 (efe-epa).- President Donald Trump announced Thursday that he is withdrawing the United States from the Open Skies Treaty, a multilateral...

Bolsonaro, governors give initial sign of unity against Covid-19

By Eduardo Davis