World Bank Singapore Infrastructure Finance Summit 2014
3 June 2014 (Tuesday)
9:00 amBreakfast and Registration
10:00 amWelcome and Introduction
Patrick Jenkins, Financial Editor and Assistant Editor, Financial Times
10:05 amOpening Remarks
Lim Hng Kiang, Minister for Trade and Industry, Singapore
10:20 amKeynote Interview
Keynote Speaker: Bertrand Badré, Managing Director and Chief Financial Officer, World Bank Group
11:00 amPanel of Financial Leaders: The Latest Initiatives to Boost Long-Term Financing
Kai Nargolwala, Chairman, Clifford Capital
Walter Winrow, Managing Director, Global Project and Infrastructure Finance, Moody’s Investors Service
Karin Finkelston, Vice President, Asia Pacific, IFC
Lakshmi Venkatachalam, Vice-President, Private Sector and Cofinancing Operations, Asian Development Bank
Moderator: Patrick Jenkins, Financial Editor and Assistant Editor, Financial Times

Policy-makers, multilateral representatives and leading institutional investors discuss the latest diplomatic moves and other initiatives to increase long-term private sector funding of infrastructure projects. How are governments responding? What are large asset owners and financiers specifically looking for from efforts to improve the environment for long-term infrastructure investment? To what extent is project lending and financing being affected by interest rate uncertainty and regulatory reforms like Basel III? Can long-term project financing be ring-fenced from the vagaries of global financial cycles? Are the right projects being offered, and what can be done to develop a robust pipeline?

12:15 pmLunch
1:35 pmPanel Discussion: Establishing Innovative Financing and Partnership Models to Incentivise Investors
Vivek Aggarwal, Managing Director, Madhya Pradesh Road Development Corporation
Alistair Higgins, Head of Structured Bonds, ING Bank
Thomas Jacquot, Senior Director, Corporate & Government Ratings, Standard & Poor’s Ratings Services
Noburu Kato, Director and General Manager, Investment Banking Department Asia, Sumitomo Mitsui Banking Corporation
Moderator: Laurence Carter, Director, Public-Private Partnerships Transaction Advisory Department, IFC

As efforts intensify to boost long-term investment in infrastructure, much attention is being placed on the financing instruments and structures that can be put into place to provide the risk profile, rates of return and other incentives necessary to attract the enormous funds required. The public-private partnerships that are built to facilitate these investments and implementation of the projects have to work, and a range of funding sources – from direct equity to project bonds – have to be considered. In the emerging markets with the greatest need, what can be learned from the PPP programmes and financing structures that have worked elsewhere? In markets with strong Islamic populations, such as Indonesia and Malaysia, can Islamic finance play a role in solving the problem?

2:50 pmPanel Discussion: The Role of Developers in Optimising Infrastructure Projects
Tan Cheng Guan, Executive Vice President & Head Group Business Development & Commercial, Sembcorp Industries Ltd.
Suneet K. Maheshwari, Group Executive Vice President, L&T Finance Holdings
John Scott Younger, Director, Nusantara Infrastructure
Anita George, Director, Infrastructure and Natural Resources, IFC, World Bank Group
Moderator: Patrick Jenkins, Financial Editor and Assistant Editor, Financial Times

Policy efforts focused on attracting long-term private capital have to include an assessment of the infrastructure projects being offered to ensure they are viable solutions to the problems they are seeking to address. Crucial stakeholders in this process are the infrastructure firms that may bid on the projects. How can the community of developers and contractors be brought in during early project preparation, and ahead of the bidding process, to ensure that projects are designed optimally? How can developers work with lenders to ensure that proposed financing solutions are aligned with risk profiles and yield viable projects? How do they manage their investment decisions and equity stakes across special purpose vehicles?Can developers investing in large mining projects or other Foreign Direct Investment be incentivised to invest in infrastructure as well, if it is strategically or operationally related to their deals or projects? Currently most infrastructure projects are conceptualised, prepared and brought to market by the public sector. Does the reliance on competitive procurement close out innovation from private developers? How should unsolicited bids by the private sector be handled?
4:05 pmNetworking Break
4:25 pmPanel of Public Sector Leaders: Engaging with the Private Sector in Financing Key Infrastructure Projects
Mark Rathbone, Partner, Advisory Asia Pacific Capital Projects & Infrastructure Leader, PwC Singapore
Anne Skovbro, Director, Finance Administration, City of Copenhagen
Sinthya Roesly, CEO, Indonesia Infrastructure Guarantee Fund (IIGF)
James Harris, Global Head of Infrastructure and Managing Partner, Hogan Lovells Lee & Lee
Moderator: Ede Jorge Ijjasz Vasquez, Director, Sustainable Development, Latin America and Caribbean Region, World Bank

Senior representatives from local authorities, state-owned corporations and other sub-national and non-sovereign entities discuss the challenges of financing infrastructure projects. Drawing upon specific examples of key infrastructure initiatives in their respective geographies, panelists discuss what their administrations are doing to make public-private partnerships operate more effectively. How do they work with investors and contractors? What methods are they using to tap private sector finance? What impact is the economic and regulatory environment having on the creditworthiness of their fund-raising entities and their ability to access capital markets? How do they see the situation evolving over time, given the new initiatives by the G20 and multilateral agencies?

5:40 pmClosing Remarks
5:50 pmCocktail Reception