Caribbean

Under contract to the Inter-American Development Bank (IDB), and the Global Environment Facility (GEF), BFA developed a blended revolving fund for commercial bank financing of local environmental projects in Jamaica. Under this program a $15.2 million local bank loan was   provided to the National Water Commission (NWC) for   several projects. Blended support came in the form of a special surcharge on water tariffs dedicated to a Trust for collateral and a $3 million GEF grant placed in a reserve account.

The loan financing was followed by a successful NWC bond issue with the same financial architecture and credit enhancements.

The Philippines

Under contract to USAID and in collaboration with the Japan Bank for International Cooperation (JBIC), BFA developed a blended water revolving fund program in the Philippines. The structure combined local bank lending with JICA sovereign loan proceeds and credit support in the form of a partial credit guarantee from the US Development Credit Authority. The fund has mobilized more than US$230 million in lending for local projects.

India

BFA assisted the Tamil Nadu Development Fund in India with a successful privatization and follow-on bond financing. This involved the first private sector pooled financing of water projects outside the United States. As the chief  legal and financial adviser, we structured a $22.6 million non-convertible, redeemable bond offering issued by the Tamil Nadu Development Fund in India for local infrastructure projects

The bond offering was credit enhanced by then USAID’s Development Credit Authority. This donor assistance was critical to obtaining an investment grade rating.

The BIDFacility Charter

BFA assisted the IFC in the creation of BIDFacility, an IFC-managed, multi-donor supported initiative designed to assist public entities attract private sector investments through PPPs. BFA drafted the BIDFacility Charter, engaged in market analysis, conducted a regional legal and regulatory review, and presented the proposal at a donors’ conference. The BIDFacility has raised more than $20 million in donor funds.

NAMA Facility

Under contract to the international NAMA facility, BFA developed financial mechanisms for clean energy projects in Latin America and Asia. Several of our financial mechanism proposals include:

The UNDP/GEF

BFA provided assistance to the UNDP/GEF regarding the design and implementation of financing programs for renewable energy and energy efficiency projects in Croatia, Romania, Central America, Chile, Egypt, India, and Thailand.

Fideicomiso Trust

BFA developed a Fideicomiso (Trust) program to bundle efficiency projects for financing by the North America Development Bank (NADB) through one debt instrument. We drafted transaction documents for the Fideicomiso financing