(Archived Content)
HP-908
In July 2007, Secretary Paulson announced the creation of an infrastructure development program to increase investment in infrastructure projects in Latin America and the Caribbean ( http://www.treasury.gov/press/releases/hp482.htm) . The United States, in partnership with the International Finance Corporation (IFC), a member of the World Bank Group, is working to catalyze private investment in infrastructure in Latin America. ()The United States, in partnership with the International Finance Corporation (IFC), a member of the World Bank Group, is working to catalyze private investment in infrastructure in Latin America.** The goal of the program is to partner with the private sector to identify, structure and launch sustainable infrastructure projects. The United States, Brazil, the IFC and the Inter-American Development Bank and other partners have contributed a combined $12 million (the U.S. contributed $4.6 million) to date, with additional contributions of at least $8 million envisaged in the next 1-2 years. The contributions will be used to:** The United States, Brazil, the IFC and the Inter-American Development Bank and other partners have contributed a combined $12 million (the U.S. contributed $4.6 million) to date, with additional contributions of at least $8 million envisaged in the next 1-2 years. The contributions will be used to:
- Help governments and private sector sponsors conduct market, technical, legal, and financial analyses in order to prioritize and design projects for development;
- Help governments manage transparent and competitive bidding processes. Results To Date: Twelve projects are signed or under advanced negotiations, with $1.3 million committed from the initiative. The projects are located in Mexico, Brazil, Haiti, Colombia, Jamaica, and St. Lucia. $2.6 billion (estimated) in additional investment will be leveraged across all twelve projects, $450 million of which is greenfield investment. Fiscal savings to local governments from these transactions are estimated at a minimum of $200 million. Number of people expected to receive improved basic services from these transaction are estimated at 500,000. Eight advisory transactions are under execution; additional investment to be leveraged is estimated at $2.3 billion.-30-