For decades, the world of development banking was dominated by a few multilateral actors, foremost the World Bank Group as well as regional development banks. In recent years, some established banks have much expanded their scope of operation, while new actors and interests are moving in. A number of national development banks, for example from China and Brazil, have entered the international arena in a big way, often operating far outside of their respective home countries and becoming truly global actors.
Some claim that the biggest obstacle to boosting investment levels and reviving the global economy as the absence of regional "pipelines of bankable projects". In this paper, Nora Rohde describes the "solution" --Project Preparation Facilities (PPFs) to accelerate the launch of (mega)projects.
Dr. Mzukisi Qobo describes PIDA's plan to double levels of investment in energy, water, and transportation mega-projects in Africa and the opportunities and risks these projects present for infrastructure investors and, especially, for Africans. He cites six categories of risk (political; social and environmental; fiscal; security; institutional; and technical) and asks the big question: will PIDA accelerate the colonial patterns of resource extraction or foster the economic diversification required for Africa to prosper and expand job opportunities.
The G20’s commitment to conventional solutions obscures the possibility of other alternatives. Even though the alternatives present challenges in terms of replication, cost, and scale, the G20 summit in Mexico in June 2012 should re-cast the criteria for selecting and financing energy projects to highlight modular, renewable energy solutions.
