The World Bank is expected to launch its Global Infrastructure Facility (GIF) at the October 10-12 IMF-World Bank Annual meetings in Washington, DC. The GIF has been on the drawing boards for close to two years. Despite that long lead time, detailed operational guidelines have yet to be released. However, a September 2014 Update for the G20, gives some glimpse into what the GIF will do and how it is expected to operate.
Some of the most salient details are as follows:
Readers who hope to mobilize GIF support for their proposed projects should pay special attention to the partnership arrangements and project selection process. I will try to circulate more information as it become available.
Although publicly available operational details are still sparse, I see nothing in the current proposal that would preclude support for the sort of technology deployment activities discussed at the GSS. On the other hand, I would not be surprised if the GIF team were unfamiliar with the potential benefits of many of these technology deployment activities.
Filling any information gap should be an immediate, high priority.
Some of the most salient details are as follows:
- The GIF will have two windows – (i) an “upstream” window to support “project-specific” regulatory reform, feasibility studies and related project preparation activities and (ii) a “downstream” window to “provide “gap-fill” co-financing or credit-enhancement support—to complement products already available from internal and external technical partner institutions.”
- During the three year pilot phase, the GIF expects to support approximately “four significant interventions ($10 to $20 million per project) and 3 to 6 more smaller-scale interventions ($2 to $5 million)” with a combination of upstream and downstream support.
- “During its $80 million pilot phase, the GIF will to focus on infrastructure investments that have global public good characteristics; climate friendly projects that are low emitting or encourage efficiency in the provision of infrastructure services; and trade enabling projects that facilitate or enhance interconnectivity and trade, with particular attention to projects that could realistically provide measurable impacts within three to four years.”
- The GIF expects to recover its outlays through fees and reimbursement “upon successful project close.”
- The target date for the start of GIF operations is December 2014. The assessment and selection of the initial round of pilot projects is expected to be well underway by December 2014.
- The GIF will be administered by a GIF Management Unit administered by the World Bank Group. Additional details about the GIF’s governance arrangements are available in the Summary document prepared for the G20.
Readers who hope to mobilize GIF support for their proposed projects should pay special attention to the partnership arrangements and project selection process. I will try to circulate more information as it become available.
Although publicly available operational details are still sparse, I see nothing in the current proposal that would preclude support for the sort of technology deployment activities discussed at the GSS. On the other hand, I would not be surprised if the GIF team were unfamiliar with the potential benefits of many of these technology deployment activities.
Filling any information gap should be an immediate, high priority.
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