For the first three quarters of 2009 the increase was 10%, when compared with the same timeframe in 2008. Obtaining financing remained difficult with PPI projects backed by large developers with good relationships with financial institutions, or those that had been accorded priority status by their countries, accessing it more easily. Local public banks, as well as bilateral and multilateral agencies, continue to be the key sources of finance for PPI projects in the developing world.

Investment in the schemes in developing countries was concentrated in Brazil, India and Turkey. Together, these countries accounted for 78% of all investment commitments and for 100% of the growth in such investment during the third quarter of 2009. Russia saw a sharp decline in investment commitments because of the financial crisis and the coming to an end of the privatisation programme for energy company RAO UESR.


If Brazil, India, Turkey and Russia are excluded from the data, investment in developing countries would have fallen by some 49% in the third quarter of 2009, and by 5% in the first three quarters of that year, compared with the same periods in 2008.

Large PPI initiatives – of $1bn or more – were the principal drivers of investment growth in the first three quarters of 2009. Investment in large PPI projects increased by 40% during that period. For PPI projects between $500m and $1bn, investment was up 100% in the first three quarters of 2009. However, investment in projects of less than $500m declined by 30%.


Hungary’s Ministry of Finance has announced the renationalisation of the airline Malév because its privatisation has been unsuccessful.

Turkey’s Privatisation Administration reported that it has received more than 100 offers for the privatisation sale of 52 hydroelectric power plants.

Bulgaria is planning to sell on the stock exchange the shares of 40 companies. The price of the state’s minority share in 12 of these companies is to be reduced by 30%.


Nigeria’s state-owned oil company, Nigerian National Petroleum Corporation, is moving towards being privatised. Nigeria’s National Council on Privatisation has also set up a committee that will undertake additional due diligence on prospective investors who submitted bids for Nitel and M-Tel.

Three binding offers have been received in Zambia’s Zamtel privatisation.

Uganda is ready to issue an international tender for Kilembe Copper Mines, slated for privatisation.


China has approved the formation of a new asset management company that will oversee the privatisation of its state-owned companies.

The Middle East

Kuwait has announced its new privatisation law is almost complete.

Saudi Arabia’s privatisation of Saudi Arabian Airlines is progressing as planned.