Foreign Exchange Risk Mitigation for strongPowerstrong and Water Projects.pdf

E N E R G Y A N D M I N I N G S E C T O R B O A R D D I S C U S S I O N P A P E R P A P E R N O . 9 D E C E M B E R 2 0 0 3 Foreign Exchange Risk Mitigation for Power and Water Projects in Developing Countries Tomoko Matsukawa, Robert Sheppard and Joseph Wright THE WORLD BANK GROUP The Energy and Mining Sector Board AUTHORS DISCLAIMERS Tomoko Matsukawa (Tmatsukawa@) is Senior Financial Officer of the Project Finance and Guarantees unit The findings, interpretations, and conclusions expressed in of the World Bank. She has worked on various power and this paper are entirely those of the authors and should not be water projects, structuring public-private risk-sharing schemes attributed in any manner to the World Bank, to its affiliated and implementing World Bank guarantee transactions. Prior organizations, or to members of its Board of Executive Directors to joining the World Bank she worked at Morgan Stanley, or the countries they represent. Citicorp and the Chase Manhattan Bank; she holds MBA from Stanford Graduate School of Business. The material in this work is copyrighted. No part of this work may be reproduced or transmitted in any form or by any means, Robert Shepard (projfin@) is a an independent electronic or mechanical, including photo