Umar, Abdullahi A. and Umar, Umulkhairu H. and Ahmad, Mahadi and Zawawi, Noor Amila W. A. and Abdul Aziz, Abdul Rashid,(2014), STEMMING WATER-RELATED DEATHS IN SUB-SAHARAN AFRICA: THE PLACE OF ISLAMIC PROJECT FINANCE AND MALAYSIAN CONTRACTORS. , ISRA International Journal of Islamic Finance, UNSPECIFIED
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Abstract
Annually 3.5 million children under the age of 5 years die from
water-related diseases, as reported by the World Health Organisation
(WHO). The bulk of these deaths are in the developing countries of
Asia, Latin America and Sub-Saharan Africa (SSA). Asia and Latin
America have taken steps to stem the tide of these water-related
deaths by investing heavily in water infrastructure through publicprivate
partnerships (PPPs) or concession contracts to meet their
Millennium Development Goals (MDGs). Studies, however, show
that SSA is the only region that will not meet its MDG targets before
2015. Water-related diseases have led to productivity losses of over
USD 28 billion annually in SSA. Although they have tried the PPP
route, these projects have often been cancelled or become distressed
due to affordability issues. Tariff levels are highly dependent on the
source of financing, and the country risk profiles of SSA countries
further add to the cost of capital. This article argues for the adoption
of interest-free Islamic project finance (IPF) as a cheaper alternative
to conventional project finance for water and sanitation in SSA.
Arguments are also made in support of bundling such finance with
Malaysian contractors as a complete package to enhance successful outcomes.
Keywords : | Concessions, water-related disease, Sub-Saharan Africa, Islamic project finance., UNSPECIFIED |
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Journal or Publication Title: | ISRA International Journal of Islamic Finance |
Volume: | 6 |
Number: | 2 |
Item Type: | Article |
Subjects: | Ekonomi Islam |
Depositing User: | Users 15 not found. |
Date Deposited: | 26 Dec 2019 06:25 |
Last Modified: | 26 Dec 2019 06:25 |
URI: | https://repofeb.undip.ac.id/id/eprint/844 |