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DevCo supports transactions in the poorest nations (DAC List Columns I-III) to increase private sector involvement in the provision of infrastructure structure services. The additional funds help defray the costs of expert consultants who work with teams lead by IFC's Advisory Services to prepare infrastructure projects for private sector investment. DevCo funds also help defray IFC's project development costs associated with identifying projects for DevCo to support. This mandate extends beyond the narrowest definition of infrastructure to include water and sanitation, electricity, telecommunications and ICT, transportation, housing, solid-waste and other physical infrastructure services. There have been 13 DevCo-supported transactions that have successfully led to the introduction of private participation since its inception. More recently, these include a concession agreement to develop the Ashta Hydropower plant, a new plant that will contribute to Albania’s power generation capacity, helping reduce dependence on imports and decrease blackouts; a power supply agreement for the Philippines' Small Power Utilities Group at Basilan that will benefit 330,000 people, over half of whom will gain access to electricity for the first time; and the largest privatization of Kenya's 10-year program, Telkom Kenya. We forecast that the 11 projects so far closed under DevCo will generate $3.34 billion in private investment, yield $1.74 billion in fiscal benefits for our client governments and improve access to services for 315,000 people. Expected impacts of the all DevCo supported-projects include over $10 billion of private investment, fiscal benefits of almost US$2 billion, and significant improvements in water or electricity services to over 1.7 million people. DevCo is currently supporting 14 advisory mandates:
To learn more about DevCo supported projects, please refer to our experience. |
