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Full-Text Articles in Law
Chinese Resource-For-Infrastructure (Rfi) Investments In Sub-Saharan Africa And The Future Of The "Rules-Based" Framework For Sovereign Finance: The Sicomines Case Study, Jingwei Xu
Michigan Journal of International Law
China has emerged as sub-Saharan Africa’s largest development financier over the past two decades. While commentators have observed novel, sui generis transactional structures in China’s financing arrangements, legal analysis of those contractual forms and their relationships to incumbent international economic governance regimes remains scant. This note addresses those scholarly lacunae, taking as its case study the 2008 Sicomines Agreement—a multi-billion USD investment financing agreement between the Democratic Republic of the Congo and various Chinese corporate entities that merges infrastructure investment with a mineral extraction joint-venture project. It demonstrates that the Sicomines Agreement selectively draws on and integrates pre-existing modes of …
Remembering Financial Crises: The Risk Implications Of The Rise Of Institutional Investors In Project Finance, David J. Park
Remembering Financial Crises: The Risk Implications Of The Rise Of Institutional Investors In Project Finance, David J. Park
Michigan Law Review
Barely a decade ago, a cascading sequence of market failures threatened to topple the global financial system. Public responses to the recent Financial Crisis were immediate and drastic to resuscitate the global economy while attempting to make the markets safer. Many financial services sectors have since recovered to pre-crisis levels. One such industry is project finance, which comprises various financing arrangements often used to fund long-term infrastructure or industrial projects. Curiously, significant post-crisis banking regulations and other global credit enhancement initiatives are pushing banks out of project finance and giving rise to institutional investors. This Comment argues that animated institutional …
Financing For Development, The Monterrey Consensus: Achievements And Prospects, Abdel Hamid Bouab
Financing For Development, The Monterrey Consensus: Achievements And Prospects, Abdel Hamid Bouab
Michigan Journal of International Law
The International Conference on Financing for Development, held in Monterrey, Mexico, in March 2002, marked the beginning of a new international approach to dealing with issues of development finance. It resulted from a unique process that broke new ground in bringing together all relevant stakeholders in a manner that was unprecedented in inclusiveness. Under the umbrella of the United Nations, all parties involved in the financing for development process contributed to creating a policy framework, the Monterrey Consensus of the International Conference on Financing for Development, to guide their respective future efforts to deal with issues of financing development at …
Development Finance: Beyond Budgetary "Official Development Assistance", Anthony Clunies-Ross
Development Finance: Beyond Budgetary "Official Development Assistance", Anthony Clunies-Ross
Michigan Journal of International Law
Budgetary appropriations by rich-country governments constitute the standard method of providing external funds for welfare and growth in developing countries. This source seems likely, however, to prove inadequate to meet the estimated external finance needed to contribute to the achievement of the Millennium Development Goals.