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Minding the gap: viability gap funding for private rural water operators in Cambodia

机译：缩小差距：为柬埔寨私营农村水务运营商提供可行性缺口资金

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摘要

The adoption of the Sustainable Development Goals has led to an increased interest in blended finance, recognition of pluralistic service delivery models, and ambition for safer, more convenient, and more equitable services. This paper describes the experience of adapting a public subsidy tactic, viability gap funding (VGF), to private water operators in Cambodia, critical partners of the Royal Government of Cambodia's efforts to reach 95 per cent of its population with piped water by 2025. VGF allows public agencies to incentivize private investment in infrastructure projects that are economically and socially justifiable but financially unviable in the short term. Emerging evidence from Cambodia suggests that by applying the tactic to the rural water sector, small water companies will invest and expand into previously unserved areas. The Investing in Infrastructure programme, a five-year, A$35 m investment in basic infrastructure services by the Australian Government's Department of Foreign Affairs and Trade implemented by Palladium, has incentivized 61 private water companies to expand to unserved areas, leveraging over US$24.6 m in private capital, and offering connection possibilities to nearly 180,000 rural households. Although the political economy of Cambodia's water sector has contributed to the success of the VGF, many countries share similar characteristics to Cambodia: low coverage levels, a weak domestic resource allocation, some existence of private operators, a post-conflict history, or an ambition for high levels of access to piped water services. Public agencies and donors operating in countries with such characteristics may benefit from considering VGF in their water financing options.
机译：可持续发展目标的采用导致人们对混合金融，对多元化服务提供模式的认可以及对提供更安全，更方便，更公平的服务的抱负越来越浓厚。本文描述了将公共补贴策略，可行性缺口资金（VGF）适应于柬埔寨私营水务运营商的经验，柬埔寨皇家水运是柬埔寨皇家政府在2025年之前实现95％的自来水普及率的重要合作伙伴。允许公共机构激励私人投资基础设施项目，这些项目在经济和社会上都是合理的，但短期内在财务上是不可行的。柬埔寨的新证据表明，通过将该策略应用于农村水务部门，小型自来水公司将投资并扩展到以前没有服务的地区。澳大利亚基础设施投资计划是由澳大利亚政府外交事务和贸易部实施的一项为期五年的，耗资3500万澳元的投资计划，由钯金执行，该计划激励了61家私营自来水公司扩展到无服务区域，并利用了超过2,460万美元的资金私人资本，并为将近18万个农村家庭提供了联系的可能性。尽管柬埔寨水务部门的政治经济为VGF的成功做出了贡献，但许多国家与柬埔寨具有相似的特征：覆盖率低，国内资源配置薄弱，私营运营商的存在，冲突后的历史或雄心勃勃高水平获得自来水服务。在具有此类特征的国家中运作的公共机构和捐助者可能会在其水融资选择中考虑使用VGF。

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