). Climate funds, their financiers, and international entities (including implementing entities such as international agencies and institutions, MDBs, bilateral agencies) may focus on funding volume targets. In which case, larger climate investments will be prioritized to meet the targets, crowding out SSA projects that tend to be small on a global scale. In practice, for example, when climate funds channel financing through an international implementing entity, the entity’s risk-taking profile can influence the choice of financing recipient. For example, an entity with
Outlook for Sub-Saharan Africa (REO SSA) project, the Inclusive Growth Network seminar participants, and the Research Advisory Group in the IMF African Department for their helpful comments. This Working Paper delves more deeply into part of the empirical analysis underpinning the published REO SSA 2020 chapter on digitalization in SSA. Yiruo Li conducted this work while still working in the African Department of the IMF.
going to public-private partnerships, which are not purely private projects. During 2011–20, external debt represented, on average, 40 percent of PPI investment in SSA countries. Equity accounted for 30 percent of the investment (see Chapter 3 ). The rest came mostly from local debt. Available information on the nationality and stakes of individual shareholders, suggests that SSA projects were predominantly sponsored by international investors, with about 70 percent of the projects’ equity owned by international entities over the period. Combining debt and equity
rating system based on projected financials. The first submission is expected by June 2012 and henceforth will be done by end of first quarter of each year. As to onsite supervision, a full cycle of examination has been concluded. Further examinations will be conducted on an ongoing basis, based on institutions’ ratings. 33. Implementation of the Statistical and Supervisory Application (SSA) project will assist in improving supervision . The SSA which is expected to go live by July 2012 will increase efficiency by further automating the process for offsite