Debt Financing Support to PPPs in India – Policy and Instruments
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This webinar will present an overview of the debt and other support instruments specifically used by the IIFCL in India, associated policies of the Government and the experience so far on these. It will also touch very briefly upon newer initiatives in this área such as Infrastructure Debt Funds.
The objective is to disseminate knowledge on the Indian experience to policy makers, practitioners, consultants and experts working on similar mechanisms in other developing countries.
Shyamala Shukla is a Senior Consultant in Infrastructure Finance at the PPP Group of the World Bank . She has worked at the World Bank for over six years as a Consultant and as an Advisor to Executive Director. She has over two decades of experience in infrastructure financing, policy and regulation, with specific expertise in public-private arrangements, innovative financing, government support instruments, project design, development, structuring and implementation.
She was closely involved with the development and implementation of infrastructure and PPP policies as well as a large portfolio of infrastructure PPP projects in India at national and sub-national levels of government in various positions for several years, including as Director (Infrastructure) in the Union Ministry of Finance in Government of India. She has also worked on policy and projects in Kenya, Nigeria, Ghana, Indonesia, Vietnam, Bangladesh, Bhutan, Sri Lanka and other countries. Among financial institutions, apart from the World Bank, she has worked with the Asian Development Bank, the Islamic Development Bank and the Reserve Bank of India.
Shyamala has an MPA from Harvard University, Cambridge, Massachusetts and an MS in Finance from Johns Hopkins University in the United States.
Gajendra Haldea, is the former Head of Secretariat for PPP and Infrastructure in the Planning Commission in the Government of India, which aims at initiating policies to facilitate the creation of world class infrastructure. His extensive experience in several sectors of the economy and his background in law, economics and finance have placed him in a unique position for contributing to the evolution of the framework and policies for private participation in infrastructure and social sectors.
Key assignments in his long and illustrious career include several years as Joint Secretary (Infrastructure) with the Union Finance Ministry in India, and as Chief Adviser and Head of the Centre for Infrastructure and Regulation at the National Council for Applied Economic Research, New Delhi. His work in the power sector, particularly in the drafting of the Electricity Act 2003 and the evaluation of Power Purchase Agreements in India are widely recognized. He has worked on several key infrastructure reforms relating to the creation of a legislative and policy framework for private participation. The concession framework contained in his book Indian Highways: A framework for commercialization has formed the basis of several PPP projects and policies in India. He has authored over twenty-five Model Concession Agreements for PPPs and has led the effort to streamline and standardize the bidding processes and documents for PPP projects. Besides the landmark legislations like the Foreign Exchange Management Act, 1999 and the Electricity Act 2003, he has also drafted other legislative Bills such as the Regulatory Reforms Bill, 2011, the Public Procurement Bill, 2012, the Public Contracts (Settlement of Disputes) Bill, 2013 and the Rajasthan State Highways Bill, 2014.
His book Infrastructure at Crossroads: The Challenges of Governance has been published recently by the Oxford University Press. It provides a rare insider view of infrastructure reforms and has received very positive reviews by prominent personalities in several leading journals.
Gajendra Haldea has an advanced degree in Economics and Law from the University of Rajasthan. He later went for a Fellowship at the London School of Economics.