TY - JOUR T1 - The Global Crises in Power and Infrastructure JF - The Journal of Structured Finance SP - 7 LP - 11 DO - 10.3905/jsf.2003.320298 VL - 9 IS - 1 AU - Jacob J. Worenklein Y1 - 2003/04/30 UR - https://pm-research.com/content/9/1/7.abstract N2 - As a result of high-profile, power-project defaults in the developing world; the collapse of power prices and asset values in markets such as the U.K. and the U.S.; and continuing ripple effects of the failure and fraud of Enron, major portions of the power and infrastructure sectors are convulsed by crisis and a resulting loss of investor and lender confidence. To attract investors when new capacity is needed in the future, regulators need to help create a climate of stability in which reasonable investor expectations can be fulfilled. For the poorest countries, where capital for infrastructure investment is so badly needed, the author proposes a new public-private partnership model. Such a model would put the initiative and creativity of the private sector to work supported by the resources of multilaterals, ECAs, and other government agencies as aid donors and providers of credit support. ER -