This tool is primarily designed to address governance risks during construction and pre-operational phases of a greenfield or project finance transaction. Other risks may exist in pre-construction phases (concession bidding or PPP structuring, for example), which are not covered herein. When the SPE reaches full operational phase, other more traditional corporate governance tools may be used to assess development (traditional progression matrix for corporates for example).

This Tool has been developed in a collaborative effort of the DFI CG Working Group’s Committee on Project Finance, composed by Marta Viegas (IDB Invest) as Chair, Elizabeth Fiona Alpe (ADB) and Charles Canfield (IFC). Although this Tool aims to be as comprehensive as possible in the breadth of its analysis, it should not be relied upon as professional advice on legal, governance or compliance related matters. The actual practices of each of the institutions involved in the development of this Tool may differ from what is described or recommended.