A proposed Currency Convertibility Fund, backstopped by a contingent credit from the International Development Association (IDA)-the World Bank's concessionary window for the world's poorest countries-has been designed for the Songo Songo Gas Development and Power Generation Project in Tanzania. The fund is a transitional mechanism aimed at supporting the Tanzanian government's efforts to attract foreign equity in circumstances where the private sector perceives a high level of risk and is otherwise unwilling to invest. The fund may be a replicable mechanism that, by mitigating sovereign risks that investors are unwilling to bear and unable to hedge against, could help catalyze foreign equity investment in other IDA countries and in projects that generate local currency.
Detalhes
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Autor
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Data do documento
1999/04/30
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TIpo de documento
Ponto de vista
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No. do relatório
21275
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Nº do volume
1
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Total Volume(s)
1
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País
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Região
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Data de divulgação
2010/07/01
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Disclosure Status
Disclosed
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Nome do documento
Mitigating currency convertibility risks in high-risk countries : a new IDA lending approach
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Palavras-chave
Convertibility; Risk management; Investment risks; Equity investments; Development Credit Agreement; Administrative arrangements; Guaranteed investment contracts; Foreign investment; Private investments; Political risk insurance
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