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Public-Private Partnerships, Capital Infrastructure Project Investments and Infrastructure Finance
Type: Book
ISBN: 978-1-83909-654-9

Open Access
Book part
Publication date: 2 August 2022

Christopher Ansell, Eva Sørensen and Jacob Torfing

This chapter insists that local cocreation projects need not only good intentions and the hard work of volunteers but also require funding and financing of the design and…

Abstract

This chapter insists that local cocreation projects need not only good intentions and the hard work of volunteers but also require funding and financing of the design and implementation of new solutions. It draws a conceptual distinction between funding and financing and explains who may help to provide funding and financing and why they may do so. As a part of this discussion, attention is drawn to the importance of writing good and persuasive funding applications and drawing up a strong and convincing business case to secure financing of new solutions. The new and emerging strategy for mobilizing private capital to help finance SDG projects is explained and illustrated, before closing the chapter with a discussion of the need to develop a proper system for fiscal accounting and auditing, which can prevent mismanagement and misconduct that eventually undermine popular support for local SDG projects.

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Co-Creation for Sustainability
Type: Book
ISBN: 978-1-80043-798-2

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Abstract

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Public-Private Partnerships, Capital Infrastructure Project Investments and Infrastructure Finance
Type: Book
ISBN: 978-1-83909-654-9

Book part
Publication date: 5 November 2015

Manuel Wörsdörfer

The Equator Principles are a transnational corporate social responsibility initiative in the project finance sector. In 2013, the Equator Principles Association celebrated the…

Abstract

The Equator Principles are a transnational corporate social responsibility initiative in the project finance sector. In 2013, the Equator Principles Association celebrated the tenth anniversary of its principles and at the same time the formal launch of the latest generation of the Equator Principles (EP III). The paper describes the historic development of the Equator Principles – from the initial drafting process in the early 2000s up to the latest review process which led to the third generation of the Equator Principles. The paper also analyzes the current state of affairs of the Equator Principles (Association) and gives a brief outlook on potential lines of (future) development. In particular, the paper deals with the following questions: What are the main characteristics of the Equator Principles framework? What are the relevant actors involved in the drafting and reviewing process? Why are the EPs and other organizational and associational codes of conduct in the finance sector so important? What has been achieved so far by the Equator Principles (Association) and the participating (financial) institutions and what remains to be done?

Abstract

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Handbook of Transport Strategy, Policy and Institutions
Type: Book
ISBN: 978-0-0804-4115-3

Abstract

Details

Public-Private Partnerships, Capital Infrastructure Project Investments and Infrastructure Finance
Type: Book
ISBN: 978-1-83909-654-9

Abstract

Details

Public-Private Partnerships, Capital Infrastructure Project Investments and Infrastructure Finance
Type: Book
ISBN: 978-1-83909-654-9

Article
Publication date: 31 August 2022

Eko Nur Surachman, Ricky Pramoedya Hermawan, Dian Handayani and Erin Astuti

This study aims to examine the performance of government projects financed by the issuance of Indonesia Sovereign Sukuk (SBSN Project) from stakeholder theory perspective and…

Abstract

Purpose

This study aims to examine the performance of government projects financed by the issuance of Indonesia Sovereign Sukuk (SBSN Project) from stakeholder theory perspective and propose policy recommendations to improve its effectiveness as a government financing instrument.

Design/methodology/approach

The authors applied a qualitative interpretive approach in this study by conducting content analysis using stakeholder theory. Big data from official webinars about Indonesia Sovereign Sukuk issuance on the internet were used and coded by qualitative data analysis software.

Findings

The results reveal the stakeholders’ concerns regarding the project implementation. The cluster analysis confirms that technical ministries are the instrumental stakeholders who have the authority and tools to achieve SBSN Project success. The authors propose inclusive policy recommendations for each stakeholder, such as establishing an SBSN Project Master Plan, presuming disincentive to use project extension facility and setting up a comprehensive approach to assist working units in technical ministries in project preparation, development and service delivery. From the perspective of sustainability, the Government of Indonesia should focus more on education to the local community as end-users, value creation to integrate SBSN Projects with other financing schemes and regulation to ensure the effectiveness of a reward–punishment mechanism.

Practical implications

The findings of this study may be useful to the Government of Indonesia, especially the Ministry of Finance, in determining and establishing moving forward policies that are relevant and contribute significantly to the sustainability of the Sovereign Sukuk programme.

Originality/value

This study is one of a few studies exploring Islamic public financing instruments, with its originality lying in the examination of the SBSN Project performance from an academic approach, specifically stakeholder theory. This study uses big data available from the public domain to formulate proposed actions to achieve a sustainable SBSN Project programme.

Details

Journal of Islamic Accounting and Business Research, vol. 14 no. 2
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 18 February 2009

Georg Caspary

The purpose of this paper is to compare the stringency of different types of public financing institutions' safeguard mechanisms in the financing of large dams in developing

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Abstract

Purpose

The purpose of this paper is to compare the stringency of different types of public financing institutions' safeguard mechanisms in the financing of large dams in developing countries. It seeks to do so by examining: the institutional strategies and policies currently in place in a set of key public financing institutions; and project‐level case studies of dams financed by these institutions and the stringency with which existing policies are applied by the key financing institutions. It aims then to cite the key factors determining why the “safeguard‐performance” between these types of financing institutions differs and what the implications are for leaders working to effect improvements in these areas.

Design/methodology/approach

The study compares the safeguard mechanisms of two types of financing institutions by applying a set of benchmark criteria to both existing strategy and policy documents and to the actual application of those policies at the project level, through correspondence, interviews, and site visits.

Findings

The study argues that leaders may make a difference on improving the sustainability performance gap in the financing of large dams – with more difficulty in those cases where the current gap is mainly to be explained by “systemic” factors; and arguably with more ease in cases where the current gap is caused mostly by other factors.

Research limitations/implications

The study leads to the above findings for the case of public financing institutions and large infrastructure projects (with a focus on dams). To make for greater generalisability of the findings, future research should complement this work by focusing on private financing institutions and on the financing of other types of projects.

Practical implications

Large infrastructure projects have massive social and environmental impacts, and public financial institutions have a large stake in determining the sustainability (or otherwise) of these projects. The paper seeks to help make large infrastructure investments more sustainable by providing guidance to leaders as to where and how sustainability aspects could best be integrated in financing decisions for these projects.

Originality/value

The value added lies in helping leaders define where sustainability efforts in large infrastructure finance are warranted – and where, conversely, they represent largely wasted efforts.

Details

Corporate Governance: The international journal of business in society, vol. 9 no. 1
Type: Research Article
ISSN: 1472-0701

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Article
Publication date: 7 April 2021

Emre Cevikcan and Yildiz Kose

An appropriate space allocation among different residence types gives higher profitability and liquidity for cash flow management in real estate projects for developers. Thereby…

Abstract

Purpose

An appropriate space allocation among different residence types gives higher profitability and liquidity for cash flow management in real estate projects for developers. Thereby, a balance between debt and equity should be kept for capital formation in developers where high level of cost, profit and risk exists. The purpose of this paper is to provide cash flow optimization under debt and equity financing while providing an appropriate space allocation of residence types via synchronous consideration of profitability and liquidity.

Design/methodology/approach

A novel optimization methodology that includes project financing, optimization and experimental design modules is proposed. The first module, project financing, considers the flexibility of utilizing one or both of debt financing and equity financing when making capital. The optimization module addresses space allocation among different residence types for a construction while maximizing profitability and liquidity using two mixed-integer linear programming models in a pre-emptive manner. The experimental design module assesses the effects of decisive parameters within the methodology via multivariate analysis of variance (MANOVA).

Findings

The proposed methodology is applied to a real-life residential project in Istanbul. The optimization module yielded 42.5% profitability via the first linear programming model and 2.2% trade-off between liquidity and profitability while minimizing the payback period by the second linear programming model. Meanwhile, MANOVA results showed that profit per square meter and sale rate trends are the most prominent factors considering their significant effects on net present value and payback period.

Originality/value

To the best knowledge of the author, related papers focused only on profitability under equity financing. Liquidity (as an objective) and equity financing (as a financing method) have not been handled. Hence, this paper not only performs profitability and liquidity-oriented cash flow optimization under debt and equity financing but also optimizes space allocation of residences for the first time.

Details

Built Environment Project and Asset Management, vol. 11 no. 2
Type: Research Article
ISSN: 2044-124X

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