Environmental Engineering Reference
In-Depth Information
The German Federal Ministry for Economic Cooperation and Development
(BMZ) has a special budget for supporting PPPs that promote development.
253
As
a prerequisite for BMZ funding, this involves cooperation between the private
operator and development organizations.
254
Furthermore, there should be Export
Credit Agency coverage (ECA coverage).
255
ECA, such as the German Euler
Hermes Kreditversicherung-AG (Hermesdeckung), are public export credit insur-
ance companies which promote exports by securing loans.
256
Furthermore, the
Clean Technology Fund will guarantee $750 million dollars for its own plans to
install a solar power plant in the MENA region. So far, $150 million dollars have
been allocated to renewable energy projects in Morocco.
257
Finally, there is also the possibility of using the Clean Development Mechanism
(CDM) that is based on Art. 12 of the Kyoto Protocol. The idea of the CDM is that
an investor from an Annex I country (e.g. Germany) will (co-) finance a project in a
non-annex I country (e.g. Morocco), and therefore gain certified emission reduction
units (CER).
258
Developing countries would benefit accordingly from the assis-
tance, achieve sustainable development and comply with their own emission
reduction commitments.
259
In this way, CDM is trying to encourage
(
...
) envi-
'
260
The Kyoto Protocol demands an
“additionality”, which means that the project will help to reduce emissions. This
would not have happened without the CDM.
261
ronmentally friendly investments (
...
).
'
1.5.6 Guarantees for FDIs
Besides guarantees from the host state to secure the project, there are also other
means of protection, such as international guarantee institutions like the Multilat-
eral Investment Guarantee Agency (MIGA).
262
Most importantly, MIGA guaran-
tees are in addition to national guarantees and thus of great relevance vis-a-vis
FDIs.
263
253
DIHK and bfai (
2006
), 12.
254
E.g. GTZ, DEG, SEQUA GmbH, KfW, in: DIHK and bfai (
2006
), 6 and 12.
255
Schoeltzke and Claus (
2007
), 133 (137).
256
LandesBank Berlin (
2014
); Importance of insurance and list of other German insurance
companies, in: Metje (
2008
), 63; Concerning Hermes Kreditversicherungs AG and Treuarbeit
AG, in: Herdegen (
2003
), 13 (28).
257
Climate Investment Fund (
2014
).
258
Winter (
2009
), 289 (290); Byod et al. (
2007
), 7; Bohringer (
2009
), 25 (35-36).
259
Huang and Barker (
2009
), 2; The CERs can be used to meet Kyoto standards of annex I
countries, in: Hepburn (
2007
), 375 (379).
260
Huang and Barker (
2009
), 3.
261
Byod et al. (
2007
), 5; Winter (
2009
), 289 (289).
262
MIGA is one of the five World Bank Group institutions, in: MIGA (
2013a
), 5.
263
Accpeted world wide, in: Lowenfeld (
2008
), 588-591; Krajewski (
2009
), 180.
