ECONOMICS & FINANCE

CAPABILITY STATEMENT

2018

Capability Statement – Economics and Finance

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Economics and Finance Capability statement

A dedicated team delivering a wide range of financial, economic and risk analyses for projects and programmes throughout the developing world including physical infrastructure projects, mixed-use developments, national development programmes, public private partnerships (PPPs) and innovative ways to finance development across all infrastructure and public service sectors, and beyond.

PRE-INVESTMENT STUDIES We provide the combination of engineering, economic, financial, environmental and social advisory services under one roof. We can assist with project sifting and prioritization, business case development, evaluating an opportunity and its feasibility, through tailored Pre-Investment Studies, from Pre-Feasibility and Feasibility Studies, to Project Validation, navigating complex bureaucratic environments, regulatory and policy aspects. The studies include site assessment, market analyses, technical, environmental and social studies, cost-benefit and Value for Money analyses, financial/economic modelling, risk analysis and mitigation, and financial structuring. DUE DILIGENCE A comprehensive due diligence process keeps investors and sponsors informed of the key risks during every phase of the project. For most public sector infrastructure projects, there are multiple challenges and the scale of investment is large. Complex structures, and in particular PPPs, present

a wide range of risks throughout the whole project lifecycle. An Independent view of all these aspects requires selection of an advisor with excellent local and technical knowledge providing an integrated combination of commercial, financial, economic, technical, social and environmental expertise. PPP SERVICES We guide commercial entities on winning and delivering PPP contracts, and Governments on building capacity to develop and deliver PPP projects in emerging and developing markets. This includes the development of structures and project pipeline, project prioritisation, alternative scenarios, VfM evaluation, regulatory and policy aspects, procurement process, assistance in ensuring project bankability and funding, transaction advisory, audits and monitoring of performance. The capacity building and training services we offer to Government bodies are an essential ingredient of creating the enabling environment and to ensuring successful implementation of PPP projects. RECENT AND ONGOING PROJECTS INCLUDE Bulacan Bulk Water Supply PPP Project, Philippines As the transaction advisor for the USD $550m PPP project, IMC developed the pre-investment studies, integrated financial models and social and environmental impact studies for the PPP Pre-Feasibility and Full Feasibility Studies. Green Growth of Secondary Cities, Rwanda IMC developed a strategy for the development of Rwanda’s 6 secondary cities to incorporate green growth principles. Work involved the development of strategies for each city, and economic and financial appraisals. CAREC Road Corridor Development IMC completed the economic appraisal of road improvements in Kazakhstan and Tajikistan; HDM4 analysis, sustainability appraisal, financial management and maintenance funding assessment, economic benefits and risks analysis. Technical Assistance to the PPP Unit of Sierra Leone IMC delivered technical assistance and capacity building services to the PPP Unit to support the

Capability Statement – Economics and Finance

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delivery of series of sustainable multi-sector infrastructure projects nationwide. School Infrastructure PPP Project, Philippines As the transaction advisor for the PPP project, IMC developed the pre-investment studies, integrated financial models and social and environmental impact studies for the PPP Pre-Feasibility and Full Feasibility Studies. 6th of October City Dry Port PPP Project, Egypt IMC is leading the transaction advisory support team for the development of a new dry port complex to the west of Cairo. The work involves economic and financial feasibility study, market assessment and support during the procurement process. PPP Strategy Research, Government of New Zealand IMC provided research support and strategic advice, to assess whether and how PPPs and greater levels of private sector participation should be incorporated into the country’s aid programme. Excel-based project evaluation tool was developed. Solomon Islands National Infrastructure Investment Plan IMC provided the infrastructure economics and finance expert for the team developing the SI NIIP. The plan covered all economic infrastructure, as well as CCA and DRM infrastructure requirements. Technical Assistance to the PPP Unit of Vietnam IMC delivered technical assistance and capacity building services to support the delivery of a series of multi-sector sustainable infrastructure projects nationwide. Support to the Road Sector in Romania IMC worked with EIB and EBRD in providing economics and financial support to ensure that suitable road sector projects are sufficiently well developed to be acceptable for appropriate funding sources. West Saigon WWTW Pre-Feasibility Study Vietnam IMC completed a pre-feasibility study in a new waste water treatment works, including concessioning and upgrading of the sewage collection system. Completed technical, financial and environmental studies. San Ramon Port PPP Project, Philippines IMC is acting as the Government’s transaction advisor for the development of a greenfield port in southern Philippines. Work includes preparation of feasibility studies, financial appraisal, and support to the project procurement process. Implementation of Public Investment Management in Georgia IMC worked with partners to develop and deliver a programme of training and technical assistance to national and municipal officers and decision makers

to support the implementation of new PIM guidelines and processes. Supported Municipalities in the initial development of project proposals. Transport Infrastructure Maintenance Fund, Vanuatu IMC provided technical, economic and financial support to the Government of Vanuatu to assist in the development and implementation of a new infrastructure maintenance fund. Kampala Urban Road Rehabilitation, Uganda IMC is support Kampala City Authority in developing a scheme to enable the rehabilitation, improvement and maintenance of urban streets throughout the city. Work includes the economic appraisal of engineering options, assessment of funding strategies and development of a bankable action plan. Appraisal of Remote Energy Grid Expansion, Tanzania IMC is working for USAID investigating options for the strengthening and expansion of 5 mini-grids in remote areas of Tanzania, to identify options for expansion and strengthening. Work involves assessment of ability to pay, review of the current financial situation and financial appraisal of options. THE TEAM JAMES REEVES Senior Technical Director of E&F Team; transport and infrastructure economist with 28 - year experience in project preparation, evaluation and PPP transaction advisory in Europe, CIS, SE Asia, Africa, Caribbean and Pacific Basin. MANISH VASISTHA Associate Director E&F; former EBRD banker with experience in public and private infrastructure financing. Over 12-year experience in Eastern Europe, CIS and East Africa. Strong policy focus, particularly in the transport sector. LOYD MAWENA Principal Consultant E&F Team; infrastructure investment and finance specialist with experience in due diligence, financial analysis and PPP transaction advisory. 15 years of experience in Africa, Asia, Europe and South America. WLADEK SKORKO Principal Consultant E&F Team; ex-banker and project financier, with experience in mixed-use, municipal services and infrastructure projects, including PPP transactions. 35 years of experience in Central and Eastern Europe, CIS, Balkans, MENA, SE Asia and Africa.

For more information please contact James Reeves, our Senior Technical Director for Economics and Finance.

E: james.reeves@imcworldwide.comT: +44 (0)1737 231400

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