Tentative Detailed Agenda

Sao Paulo, Brazil 26-27 October 2004

Hotel Intercontinental São Paulo, Alameda Santos, 1123 São Paulo, SP

Tel.: +55-11 3179-2600, Fax: +55-11 3179-2619

LEVERAGING OFFICIAL SECTOR CAPITAL AND ENHANCING FINANCIAL GOVERNANCE – PRACTITIONERS’ SOLUTIONS

Note: To allow for extensive discussion, discussant presentations are limited to 7-8 minutes. All participants are encouraged to suggest proposals for discussion. For background materials, please see http://www.globalclearinghouse.org/wefbrazil/

Tuesday 26 October 2004

08.00-09.00 / Participant Registration and Informal Welcome Breakfast
09.00-09.15 / Opening Remarks
·  Context -- WEF Financing for Development Initiative: Rick Samans, Managing Director, Global Institute for Partnership and Governance, World Economic Forum and Krishnan Sharma, Focal Point for Business Engagement, Financing for Development Office, United Nations
·  Meeting Structure & Objectives: Dr. Barbara Samuels, Senior Advisor, WEF Financing for Development Initiative and Project Director, Business Steering Committee, UN Financing for Development
09.15-10:45 / Scene Setting: Roundtable Discussion on Systemic Investment Bottlenecks: What Are the Key Global, Regional, and In-Country Sources of Inefficiency and Failure?
·  Overview -- Constraints & Impediments Affecting Financial Markets and Private Sector Investment in Developing Countries: Bob Sheppard, Co-Chair, Infrastructure Experts Group & Dr. Barbara Samuels, Senior Advisor, World Economic Forum and Project Director, Business Steering Committee, UN Financing for Development
·  Open Discussion
11.00 -13.00 / Government Initiatives in Risk Mitigation: What are the tools governments are developing for mitigating risk, and how should they be refined and mainstreamed?
·  Panel One -- Proposals to Refine Bilateral Official Support Programs by Defining Market Gaps, Unbundling Supply, and Selective Targeting of Risks
- John Wasielewski, Director, Office of Development Credit, USAID
- Diana Smallridge, President, International Financial Consulting Ltd
·  Panel Two -- Proposals to Target Multilateral Support and Other Innovations
-  Gabriel Goldschmidt, Principal Investment Officer, Latin America & Caribbean Department, International Finance Corporation
-  Angela Paris, Head of Private Sector Development Policy, Inter-American Development Bank
13:15-15:00 / Working Lunch: Private Sector Investment Priorities and Strategies: What Are Leading Government Initiatives to Mobilize Domestic and International Private Sector Capital?
·  Brazil’s PPP Program: Demian Fiocca , Chief Economist, Brazilian Ministry of Planning, Budget, and Administration
·  Advancing the Brazilian PPP Program: Jose Carlos Meirelles, Partner, Pinheiro Neto Advogados & Daniel Sonder, Executive Staff Member to the Secretary of Finance and Treasury, Secretaria de Estado da Fazenda de São Paulo
·  Comments from Central and State Government Officials
·  Investor Comments and Open Discussion
15.15-17.30 / Investor Proposals for Leveraging Public Sector Capital: From an Investor’s Perspective, What Are the Needed Improvements in Risk Mitigation Tools and Services?
·  Panel One -- Proposals to Leverage Official Sector Instruments for Increasing Local Currency Funding with Revolving Funds, Swap Enhancements, and Tenor Puts
- Tony Pellegrini, President, International Association of Development Funds
- Jonathan Haddon, Of Counsel, Orrick Herrington & Sutcliffe
- Odo Habeck, Managing Partner, OGH Advisors
·  Panel Two -- Proposals to Reduce Regulatory and Exchange Risk with Local Credit Enhancements , Contingent Guarantees, and Foreign Exchange Liquidity Facilities
-Valentino Gallo, Managing Director, Latin America Expert & Agency Finance, Citigroup
- Jonathan Haddon, Of Counsel, Orrick Herrington & Sutcliffe
- Bob Sheppard, Co-Chair, Infrastructure Experts Group
20.15
(leaving from hotel lobby) / Dinner at Felsberg Residence (Rua General Mena Barreto, 343, Jardim Paulista - São Paulo)
·  Needed Reforms to the International Architecture: Structural, Organizational, and Financial Engineering Options to Enhance MDB and Donor Overall Effectiveness in Mobilizing Private Investment
- Opening comments by Richard Frank, CEO, Darby Overseas Investments, followed by general discussion. Richard (former Chairman of the World Bank’s Private Sector Group) has offered to set forth his views on new initiatives that need to be adopted by the official sector.

Wednesday 27 October 2004

08.00-09.00 / Informal Welcome Breakfast
09.00-11.00 / Organizational enhancements for deal transactions: What Specific Organizational Changes Need to Be Made to the Multilateral, Regional, and Donor Entities to Facilitate Investment?
·  New Local Insurance Vehicles Such as Monolines: Thomas Felsberg, Managing Partner, Felsberg and Associates, Brazil
·  Latin America Infrastructure Initiative: Setting Up Feasibility, Equity & $10 Billion Debt Funds: Norman Anderson, CEO, CG/LA Infrastructure LLC
·  Need for a Emerging Market Export Credit Agency: Diana Smallridge, President, International Financial Consulting & Paul Mudde, Head of Reputation Management and Sustainable Development, ABN AMRO
·  Multilaterals Provide Brazilian Export Credit Agencies with a Political Risk Breach of Contract Guarantee: Vinicio Fonseca, Director, Odebrecht
·  Reengineering the Bretton Woods Institutions: Richard Frank, CEO, Darby Overseas Investments
11.15-13:00 / Facilitating Deals: What Improvements Can Be Made to Processes in Host Countries?
·  Panel -- Proposals to Enhance In-Country Capacity
-  Improving Frameworks for Secured Transactions & Enhancing the Business Climate: Angela Paris, Head of Private Sector Development Policy, Inter-American Development Bank
-  Needed Changes in Country Governmental Processes: Tom Cochran, Director, Insured Portfolio Management Division, MBIA
-  Mechanisms & Incentives to Develop Local Capital Markets: Wallim Vasconcelles, Partner, Iposiera Gestao de Ativos
-  Enhancing Government Capacity with Customized Market Research to Define Individual Risk-Mitigating Country Frameworks: Jonathan Haddon, Of Counsel, Orrick Herrington & Sutcliffe
13:00-14.30 / Working Lunch: Brainstorming on New Proposals & How to Enhance Leverage of Official Sector Resources - Opening comments by Mahesh Kotecka , President of Structured Finance International, followed by general discussion. Mahesh (prior country rating analyst at S&P who established rating criteria for multilaterals) has offered to also make a proposal on new leverage strategies for multilateral development banks and donors.
14.45-16.15 / Facilitating Deals: What Improvements Can Be Made to Processes from Multilateral, Regional and Donor Entity Perspectives?
·  Needed Changes in Official Sector Processes: Credit, Analysis, and Deal Structure: Tom Cochran, Director, Insured Portfolio Management Division, MBIA
·  How to Improve and Simplify Deal Transactions with the Multilateral Development Banks from the Perspective of the Private Sector, Giovanni Giovannelli, CFO, TNS and Novatrans (Terna Group)
·  Using Performance Measurements to Track Progress & Incentivize Organizational Change: Diana Smallridge, President, International Financial Consulting & Linda Kemeny*, Financing Strategy Director, RWE Thames Water
·  Setting up a Sustainable Forum to Facilitate Dynamic Exchange between Experts on Improving Risk Mitigation Tools: Bob Sheppard, Co-Chair, Infrastructure Expert Group
16.15-17.15 / Defining Recommendations: What Are the Critical Next Action Steps and Resources Needed to Implement Identified Transaction, Process, and Organizational Changes?
·  Concluding Discussion

3

*Speaker to be confirmed