...and New Energy Finance, 2010 This publication may be reproduced in whole or in part and in any form for educational or non-profit purposes without special permission from the copyright holder, provided acknowledgement of the source is made. UNEP would appreciate receiving a copy of any publication that uses this publication as a source. No use of this publication may be made for resale or for any other commercial purpose whatsoever without prior permission in writing from the United Nations Environment Programme. Disclaimer United Nations Environment Programme: The designations employed and the presentation of the material in this publication do not imply the expression of any opinion whatsoever on the part of the United Nations Environment Programme concerning the legal status of any country, territory, city or area or of its authorities, or concerning delimitation of its frontiers or boundaries. Moreover, the views expressed do not necessarily represent the decision or the stated policy of the United Nations Environment Programme, nor does citing of trade names or commercial processes constitute endorsement. Bloomberg New Energy Finance: The information contained in this publication is derived from carefully selected public sources we believe are reasonable, however we cannot be responsible for its accuracy or completeness. Any opinions expressed reflect the current judgement of the author and do not necessarily reflect the opinion of Bloomberg Finance LP. The opinions...
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...SMEs are dynamic, innovative and most importantly, the employer of first resort to millions of people in the country. The sector is a breeding ground for entrepreneurship. The importance of SME sector is well-recognized world over owing to its significant contribution in achieving various socio-economic objectives, such as employment generation, contribution to national output and exports, fostering new entrepreneurship and to provide depth to the industrial base of the economy. Small and medium-sized enterprises (SMEs) are the backbone of all economies and are a key source of economic growth, dynamism and flexibility in advanced industrialized countries, as well as in emerging and developing economies. SMEs constitute the dominant form of business organization, accounting for over 95% and up to 99% of enterprises depending on the country. They are responsible for between 60-70% net job creations in Developing countries. Small businesses are particularly important for bringing innovative products or techniques to the market. Microsoft may be a software giant today, but it started off in typical SME fashion, as a dream developed by a young student with the help of family and friends. Only when Bill Gates and his colleagues had a saleable product were they able to take it to the marketplace and look for investment from more traditional sources. SMEs are vital for economic growth and development in both industrialized and developing countries, by playing a key...
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...10 Mohammed Mal-allah Mohammed Hussein Saleh Al-Rashaid Mohammed Al-Hayyan Abdulla Al-Oraifan 16th of July 2012 Abstract Kuwait is state country used to get its income through sea activities like Pearl diving and trading with other countries like India through Families of traders. These families have provided the necessary tools for the country to survive and providing products and service that. After the discovery of oil in 1930s, the country has enjoyed a new source of income that would make the government independent from taking taxes the private sector. Currently, the state is having great resources of funds that would provide an easy life for the citizen, since the price of oil went on increasing through the last century. Until recently, 2008-2009 the price of oil has declined and it was a warning that the state is actually depending on oil too much. This paper I will discuss the rentier state aspects in Kuwait and the process that under gone to become one. By describing the both Public and Private with the Kuwaiti society. And finally, suggestion to mitigate the effect of the rentier effect on the Country. 1. Introduction Rentier state is an economic term used prevailed in the20th century. Describing the states which are dependent on external income and revenues originated from the process of selling abundant resources or renting. In our case, we will talk about Kuwait and how close to the reality of Rentier state aspects. Hazem Beblawi addressed 4...
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... Dr. M. Sadiqul Islam Professor Department of Finance University of Dhaka Prepared by Robin Kumar Saha BBA ID: 16-039 BBA 16th Batch Department of Finance Faculty of Business Studies University of Dhaka Date of Submission: ............, 2014 Letter of Transmittal .................., 2014 Dr. M. Sadiqul Islam Professor Department of Finance University of Dhaka Subject: Submission of Internship report. Dear Sir, Here is the report on ‘Portfolio Mix and Operational Performance of NBFIs in Bangladesh’ you asked me to conduct. Working on a practical field with theories helped me to build my theories strong and specific. I believe that this report will help me to know about the perfect mix of investment portfolio of NBFIs in Bangladesh and its relation with the operational performance of the firm. During preparing this report I have enforced my best effort. Surely, it enriches our knowledge and promotes our study. Thank you for giving me such an opportunity for working on the topic. I will be honored to provide you any additional information, if necessary. Sincerely yours, (Robin Kumar Saha) BBA ID: 16-039 BBA 16th Batch Acknowledgement I would like to express my sincere gratitude and cordial thanks to some person who helped me In the course of preparing this report. First of all, I want to mention my honorable Supervisor Dr. M. Sadiqul Islam, Professor, Department of Finance, for giving me this opportunity to prepare this report...
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...Municipal Bond Market Development Edited and with an introduction by: Priscilla Phelps, Senior Finance Advisor, Research Triangle Institute November 1997 Environmental and Urban Programs Support Project Project No. 940-1008 Contract No. PCE-1008-I-00-6005-00 Contract Task Order No. 06 Conducted by Research Triangle Institute Sponsored by the United States Agency for International Development Office of Environment and Urban Programs (G/ENV/UP) COTR Sarah Wines Finance Working Papers Table of Contents Tables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . v Figures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . v Part I: Municipal Bond Market Development in Developing Countries: The Experience of the U.S. Agency for International Development . . . . . . . . . . 1 Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 The Changing Situation of Local Governments and Their Financing Options . . . . . 4 Defining Municipal Financial Market Development . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Strategic Context for Municipal Bond Market Development at USAID . . . . . . . . . . . 8 Technical Summary of Municipal Bond Projects . . . . . . . . . . . . . . . . . . . . . . . . . . 10 USAID Experience...
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...Government of Bangladesh, however, necessarily endorses any or all of the views expressed in these Papers. The latter reflect views based on professional analysis carried out by the research staff of Bangladesh Bank, and hence the usual caveat as to the veracity of research reports applies. [An electronic version of this paper is available at www.bangladeshbank.org.bd] Non-Bank Financial Institutions in Bangladesh: An Analytical Review Md. Nehal Ahmed∗ and Mainul Islam Chowdhury∗ Abstract Non-Bank Financial Institutions (NBFIs) in Bangladesh are gaining increased popularity in recent times. Though the major business of most NBFIs is leasing some are also diversifying into other lines of business like term lending, housing finance, merchant banking,...
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...IIPDF India Infrastructure Project Development Fund The Union Finance Minister in the Budget Speech for 2007-08 announced in the parliament the setting up of a Revolving Fund with a corpus Rs. 100 Crore to quicken the process of project preparation. Accordingly the corpus fund titled India Infrastructure Project Development Fund (IIPDF) has been created in Department of Economic Affairs, Ministry of Finance, Government of India with an initial corpus of Rs. 100 Crore for supporting the development of credible and bankable Public Private Partnership (PPP) projects that can be offered to the private sector. The IIPDF has been created with initial budgetary outlay by the Ministry of Finance, Government of India. The procurement costs of PPPs, and particularly the costs of Transaction Advisors, are significant and often pose a burden on the budget of the Sponsoring Authority. Department of Economic Affairs (DEA) has identified the IIPDF as a mechanism through which Sponsoring Authority will be able to source funding to cover a portion of the PPP transaction costs, thereby reducing the impact of costs related to procurement on their budgets. From the Government of India’s perspective, the IIPDF must increase the quality and quantity of bankable projectsthat are processed through the Central or States project pipeline. The IIPDF will be available to the Sponsoring Authorities for PPP projects for the purpose of meeting the project development costs which may include the expenses...
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... Robust asset growth • Total Indian banking sector assets has reached USD1.5 trillion in FY12 from USD1.3 trillion in FY10, with 73 per cent of it being accounted by the public sector Growing lending and deposit • Total lending and deposits have increased at CAGR of 22.8 per cent and 21.2 per cent, respectively, during FY06-13 and are further poised for growth, backed by demand for housing and personal finance • Higher ATM penetration Total number of ATMs in India have increased to 1,04,500 in 2012 and is further expected to double over the next two years, thereby taking the number of ATMs per million population from 85, at present, to about 170 • Rising rural penetration With the help of Financial Inclusion Plan (FY10-13), the banking connectivity in India increased more than threefold to 211,234 villages in 2013 from 67,694, at the beginning of the plan period Source: Planning Commission, Aranca Research Note: ATM - Automated Teller Machine FY13 • Robust demand Growing demand Increase in working population and growing disposable incomes will raise demand for banking and related services Housing and personal finance are expected to remain key demand drivers Rural banking is expected to witness growth in the future • Innovation in services Mobile, Internet banking and extension of facilities at ATM stations to improve operational efficiency Vast un-banked population highlights scope for innovation in delivery ...
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...economy. It is the manner of collecting something from the constituents and spending it also for the constituents. And the exact definition according to http://www.wisegeek.com/what-is-fiscal-administration.htm, fiscal administration is the act of managing incoming and outgoing monetary transactions and budgets for governments, educational institutions, nonprofit organizations, and other public service entities. Constituents charge leaders, whether governmental or organizational, with establishing fiscal policy as part of their duties in relation to responsible fiscal administration. Fiscal policies are tools for the development of fiscal planning budgets, based on the receipt of anticipated funding. As fund disbursement in the form of payroll, purchases, or other expenses occur, management reports appropriate accounting information back to organizational leaders. Historical data, future revenue projections, and current budget demands determine needed adjustments. The entire process forms the basis for future fiscal administration decision making. Leaders of government, nonprofits, and other public service entities have a fiduciary responsibility to those who put them in office, individuals better known as constituents. Effectively managing the fiscal administration of an entity contributes to its overall financial health and ability to continue serving constituents. As such, laws dictate much of the particulars with regard to preparing financial statements, recording transactions...
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...There are studies done (Hanira and Hasniah, 2006; Faisol and Rosila, 2014), that investigate on the viability of Istisna’ to a housing project in Malaysia. So in this case, there is a lack of research done on Istisna’ financing for infrastructure projects such as roads, bridge, dam, and tunneling project. Besides, a statistical data recorded by Bank Negara Malaysia in the year 2014 revealed that financing through the Istisna’ is only RM960 million from a total of RM314,190.2 million. So, in this case, it shows that the level of utilization of Istisna’ in construction is still low in Malaysia. It could be that construction players are not aware of the Islamic project finance model offered or how it could be used to improve value for money and affordability (Amila, Mahadi, Abdullahi and Faris,...
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...Origin of the Report This report is originated as a partial fulfillment of the requirement of the course “F-310: Public Finance” of BBA program under Department of Finance of the Faculty of Business Studies, University of Dhaka and under the observation of the assigner teacher Umma Rumana Huq on 22 November 2012. Objective The broad objective of the study is to identify the various ways to finance economic growth and poverty reduction strategies in Bangladesh for attaining better economic performance and realizing the objectives of the Millennium Development Goals. The specific objectives are to: i. Review the source of finance of public expenditure and private sector investment. ii. Analyze government expenditure and private investment at sectoral level. iii. Review the fiscal and monetary policy in quest of developing a conducive framework for financing economic growth and poverty reduction. iv. Review the financing policies of the government related to social development and poverty (including policies related to health, education, women, children, indigenous people, etc.). v. Explore the challenges and options for resource mobilization to finance public expenditure and private investment. Methodology In congruence with the objectives of the study, a draft outline for the study and a framework for reviewing the national policies were prepared. While preparing the outline, the following issues were considered: analyzing past and ongoing policy reforms and their implications...
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...LITERATURE REVIEW ON SMALL AND MEDIUM ENTERPRISES’ ACCESS TO CREDIT AND SUPPORT IN SOUTH AFRICA December, 2011 Literature Review on Small and Medium Enterprises’ Access to Credit and Support in South Africa Prepared for National Credit Regulator (NCR) Compiled by Underhill Corporate Solutions (UCS) Project Manager and Lead Researcher: Edmore Mahembe Contact Details: Edmore Mahembe 357 Flowers Street Capital Park, 0084 Cell: +27 (0)83 757 3733 Phone: +27 (0)12 751 3237 Fax: 086 540 7052/ 086 639 8976 E-mail: eddiem@underhillsolutions.co.za info@underhillsolutions.co.za Website: www.underhillsolutions.co.za Pretoria, South Africa December, 2011 1 ACKNOWLEDGEMENTS The research team wishes to acknowledge the co-operation of the following organisations and individuals that helped attain the goals of the evaluation. 1. National Credit Regulator (NCR) for the opportunity afforded to Underhill Corporate Solutions (the research consultants) to conduct this study “Literature Review on Small and Medium Enterprises’ Access to Credit And Support in South Africa”. 2. Client project managers: Thandile Gubevu and Darrell Beghin, for facilitating the overall project exercise and the useful comments on the draft report that helped shape the format of the final report. 3. NCR board members; for useful and valuable comments on the draft report that helped in the development of detailed and well informed recommendations. 4. Finally, special appreciation to key research team members, namely;...
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...Introduction: Budget might be regarded as public intentions with price tags attached. Budgets include itemized estimates of anticipated income and expenses, including a plan of operation based on such estimates. Government budget, forecast by a government of its expenditures and revenues for a specific period of time. In national finance, the period covered by a budget is usually a year, known as a financial or fiscal year, which may or may not correspond with the calendar year. The word budget is derived from the Old French bougette (“little bag”). Budgets have an economic, political and technical basis. Unlike a pure economic budget, they are not entirely designed to allocate scarce resources for the best economic use. They also have a political basis wherein different interests push and pull in an attempt to obtain benefits and avoid burdens. The technical element is the forecast of the likely levels of revenues and expenses. Rational Of The Study: The Paper is assigned by our course teacher Ast. Prof. Md. Shariful Alam Khandakar as a part of our“Taxation” course. The topic of our Assignment paper is “Budget Analyse of FY 2012-13’ impacts”. By conducting this Assignment we can enhance our knowledge and skill to apply various research methods in professional life on higher educational life. The assigned task has given us a chance to raise our quality in developing research instrument and its applications. By doing so, we can boost our acceptability in economy and develop our...
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...Revenue Mobilisation and Economic Growth Bangladesh Economic Update November 2013 Bangladesh Economic Update Volume 4, No. 11, November 2013 Acknowledgement Bangladesh Economic Update is a monthly publication of the Economic Policy Unit of Unnayan Onneshan, a multidisciplinary research organisation based in Dhaka, Bangladesh. A team works under the guidance of Rashed Al Mahmud Titumir, comprising Shahida Pervin and Abid Feroz Khan. © Copyright: Unnayan Onneshan The content of this publication may be reproduced for noncommercial purposes with proper citation (please send output to the address mentioned below). Any other form of reproduction, storage in a retrieval system or transmission by any means for commercial purposes, requires permission from the Unnayan Onneshan. For orders and request, please contact: UNNAYAN ONNESHAN 16/2, Indira Road, Farmgate Dhaka-1215, Bangladesh Tell: + (880-2) 8158274, 9110636 Fax: + (880-2) 8159135 E-mail: info@unnayan.org Web: www.unnayan.org Bangladesh Economic Update, November 2013 Page | 2 1.INTRODUCTION This issue of Bangladesh Economic Update probes into the tax system of Bangladesh in the backdrop of falling investment, missing revenue target and growing pressure on revenue. This issue of Bangladesh Economic Update probes into the tax system of Bangladesh in the backdrop of falling investment, missing revenue target and growing pressure on revenue. Bangladesh has comparatively lower tax to GDP ratio, even compared to most of its...
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...Chapter 12 Project Finance David Gardner and James Wright HSBC Introduction The purpose of this chapter is to provide an overview of Project Finance. This chapter will outline what Project Finance is, the key features which distinguish it from other methods of financing, the motivations and circumstances for utilising it and the typical structuring considerations therein. Moreover, it will be shown to be a method of infrastructure finance 1 which has become increasingly relevant in the wake of the Global Financial Crisis 2 . What is Project Finance? Project Finance can be characterised in a variety of ways and there is no universally adopted definition but as a financing technique, the author’s definition is: “the raising of finance on a Limited Recourse basis, for the purposes of developing a large capitalintensive infrastructure project, where the borrower is a special purpose vehicle and repayment of the financing by the borrower will be dependent on the internally generated cashflows of the project” This definition in itself raises a number of interesting questions, including: What do we mean by ‘Limited Recourse’ financing – recourse to whom or what? Why is Project Finance typically used to finance large capital intensive infrastructure projects? Why is the borrower a special purpose vehicle (SPV) under a project financing? What happens if the internally generated cashflows of the project are not sufficient to repay the financiers of the project? These points will...
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