Status of the PRG Facility provided by the World Bank
On May 26th, 2015, World Bank hosted a workshop on the Partial Risk Guarantee (PRG) component available to project developers and investors under GET FiT. The workshop was well-attended and received by the developer community and other GET FiT stakeholders. World Bank experts offered extensive guidance on the available guarantee options as well as procedural and financial requirements. The World Bank emphasised that their appraisal of applications for components of the PRG would overwhelmingly rely on project assessments and gap analysis undertaken by the Implementation Consultant’s team.
So far, only one developer has opted for the payment component of the PRG. However, due to UETCL´s potential shift in policy regarding the letter of credit requirement under the GET FiT PPA, the PRG might take a more important role in the GET FiT tool box in the course of 2016.