This s tudy,s ponsoredb y the WorldB ank'sP rojectF inance and GuaranteesG roup and produced in collaboration withM ercer ManagementC onsultingI, nc., wasg uidedb y an AdvisoryC ommitteet hat was formedi n December
1995 and chaired by Ram Chopra,D irector of the Bank's Cofinancinga nd Project Finance Department. The
AdvisoryC ommitteei ncludedr epresentativefsr omt he Bank'sT ransportationW, ater,a nd Urban DevelopmenDt epartment,
the Latin America and the Caribbean, South Asia, Europe and Central Asia, and Middle East and North Africa Regions,
the Legala nd Private SectorD evelopmentD epartments,a nd the InternationalF inance Corporation.
The principal authors of the report are Gregory Fishbein of Mercer Management Consulting, Inc. and Suman Babbar
of the Bank'sP rojectF inancea nd GuaranteesG roup. Other importantc ontributorst o the reporti ncludeA lanK aulbach,
TomM orsch,a nd ShelbyS ax of MercerM anagementC onsultingI, nc. and DavidB aughmano f the Project Finance and
Guarantees Group. The report benefited from the comments of several Bank staff, including Gregor Dolenc, Tom
Duvall,T omokoM atsukawa,N icolaS haw,a nd Graham Smith.A lexM irkowo, f the Bank, facilitatedd ocumentp rocessing
and productiona nd NancyM ensah, alsow ith the Bank, assistedw ith word processingT. he text was edited by Paul
Holtz and laid out by Glenn McGrath, both with American Writing Corporation.
1995 and chaired by Ram Chopra,D irector of the Bank's Cofinancinga nd Project Finance Department. The
AdvisoryC ommitteei ncludedr epresentativefsr omt he Bank'sT ransportationW, ater,a nd Urban DevelopmenDt epartment,
the Latin America and the Caribbean, South Asia, Europe and Central Asia, and Middle East and North Africa Regions,
the Legala nd Private SectorD evelopmentD epartments,a nd the InternationalF inance Corporation.
The principal authors of the report are Gregory Fishbein of Mercer Management Consulting, Inc. and Suman Babbar
of the Bank'sP rojectF inancea nd GuaranteesG roup. Other importantc ontributorst o the reporti ncludeA lanK aulbach,
TomM orsch,a nd ShelbyS ax of MercerM anagementC onsultingI, nc. and DavidB aughmano f the Project Finance and
Guarantees Group. The report benefited from the comments of several Bank staff, including Gregor Dolenc, Tom
Duvall,T omokoM atsukawa,N icolaS haw,a nd Graham Smith.A lexM irkowo, f the Bank, facilitatedd ocumentp rocessing
and productiona nd NancyM ensah, alsow ith the Bank, assistedw ith word processingT. he text was edited by Paul
Holtz and laid out by Glenn McGrath, both with American Writing Corporation.
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