Developing Public Sector Finance as A New Asset Class in Asia

Sponsored by Standard and Poor's

4 May 2009 (12:00 noon - 2:00 p.m.)

Financial markets in developed economies such as the US have been a key contributor to financing a range of public sector projects such as roads, water, schools and airports. Public sector obligations are now an established asset class in the developed world; they have deepened capital markets while at the same time provided the public sector with much needed finance from diversified sources. In contrast, public sector projects in Asian countries are often underfunded or dependent upon central government funds/guarantee for funding. Asia's public sector has a dire need for capital to fund its infrastructure backlog, reduce dependency on limited central government funds and deepen local and regional capital markets.

In this seminar, S&P's will share its experience in the development of public finance markets in the US and Europe, and discuss the imperatives for developing public sector finance as a new asset class in Asia.

Infrastructure improvement and public sector reform are key priorities for the Asia Pacific region. Public Sector participation in financial markets can help facilitate the flow of capital for infrastructure, improve transparency in the public sector and deepen Asia's national and regional capital markets. S&P's is recognized as a worldwide leader in public sector credit services with expertise in primary and secondary market credit evaluations throughout the public sector, including state and local governments, and a variety of municipal enterprises. Presentations will include a review of global best practices in financing infrastructure, key issues in improving transparency and financial management in the public sector, and the development of public sector as an important player in regional financial markets. S&P's deep experience in public finance can play a valuable part in the development of public sector finance as a new asset class in Asia.

PROGRAM/SPEAKERS

Ian Greer
Managing Director, Corporate and Government Ratings, Melbourne

Elena Okorotchenko
Senior Director, Sovereign and International Public Finance Ratings, Asia

S R Ramanujam
Chief Executive Officer, Crisil Risk and Infrastructure Solutions Limited

R. Ravimohan
Managing Director and Regional Head, South and South East Asia

Thomas G Schiller
Executive Managing Director and Region Head Asia Pacific

Note: All times are in GMT+08. For inquiries, e-mail: amseminars@adb.org.