The infrastructure finance gap for water utilities around the world is enormous. While development finance institutions and other concessionary lenders are providing capital as quickly and responsibly as possible, commercial banks and institutional lenders regularly claim that they find the water sector too challenging or that water utilities suffer from poor credit quality and weak organizational structures. Bilateral and multilateral aid programs are attempting to dispel these preconceptions but suffer from limited reach or insufficient time to unlock significant flows of capital.
The purpose of this lecture, part of the broader ROCKBlue Online Lecture Series, is to explore the concept of financial creditworthiness, to understand how it can be measured in line with other sectors, and articulate how it can be used to attract broader diversity of funding sources to the water sector. Hosted by Dr Jeremy Gorelick, an infrastructure finance professional with 20 years’ experience who has successfully raised over US$ 1.2 billion, this discussion will also feature Eyal Shevel, the Head of Corporate Rating for Global Credit Ratings (GCR), one of the largest credit ratings agencies in the global south.
This online lecture was divided into 3 parts-
Part 1 – Presentation by Dr Jeremy Gorelick
Part 2 – Presentation by Eyal Shevel
Part 3 – Questions and Answers Session
Please see Additional Resources below, after Part 3.
Jeremy Gorelick Specialist at ROCKBlue
Dr Jeremy Gorelick is a development finance practitioner with 20 years of experience in preparing and closing transactions in infrastructure in emerging markets. He has been responsible for raising over USD 1.2 billion for infrastructure projects in emerging markets, through his origination role on Wall Street and his positions as a municipal / infrastructure finance advisor with various aid agencies and DFIs, including as the lead for the infrastructure finance team for USAID’s WASH-FIN, designed to help utilities and municipalities across Africa and Asia to raise money for water and sanitation projects.
Jeremy is the Head of the Deal Team for Wellers Impact, a water and sanitation impact investor, as well as the Strategic Advisor for the Green Finance Institute. He is also advising the IFC’s Africa Cities Initiative and leading efforts for the mobilization of capital for urban infrastructure as part of the Future Cities South Africa program.
Eyal Shevel – Head of Corporate Rating from Global Credit Ratings (GCR)
Eyal Shevel is head of Corporate and Public Sector Ratings at Global Credit Ratings. He has extensive experience across the various industries, having conducted ratings for construction, industrial, agricultural, and mining companies across Africa. In the public sector, Eyal has led the credit rating teams for a many municipal ratings and has also been involved in projects in the water and energy sectors. Eyal continues to work with development agencies in promoting creditworthiness across public sector entities in Africa.
Questions and Answers Session