Mayflower Partners advised USTDA to fund a $463,950 grant for technical assistance to the Ministry of Finance and Ministry of Environment and Physical Planning in Montenegro to explore development of a revolving investment fund for the wastewater sector. Mayflower developed an extensive Terms of Reference after in-depth consultation with U.S. Agency for International Development and the MOF/MEPP. Montenegro's water supply and sanitation infrastructure is in serious disrepair and there is no wastewater treatment in most of the country. Water problems are caused in significant part by poor management and maintenance of the wastewater utilities and lack of funds. There is a high risk of future major pollution incidents related to sewage in the water affecting tourism. Montenegro urban settlements are small, 10,000-80,000 in population, with tourism centers supporting a five fold increase of population during the high season.
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China (July 2005) - Mayflower Partners helps shape Chinese banking sector training program to be conducted by the American Bankers Association
At the request of the China Banking Regulatory Commission, the American Bankers Association (ABA) submitted a proposal to USTDA for technical assistance funding in support of a Banking Sector Prudent Lending Practices program for members of the Chinese banking community. Mayflower Partners reviewed the
proposal, suggested the final budget and terms of reference and recommended the program for a USTDA grant. The purpose of the training program will be to introduce modern risk management practices and reduce China's portfolio of non-performing loans. USTDA provided a $325,282 grant and ABA will cost-share an additional $139,407 towards the completion of the training. The cooperation program was announced during the China-U.S. Joint Commission on Commerce and Trade, held in Beijing on July 11, 2005.
ABA's objective is to establish a potential market base within the Chinese banking industry for this and other programs in its education and training resources catalogue. ABA International will administer and share the cost of a customized training program based on the ABA's "Business of Banking School" curriculum. The proposed program will take place in Beijing and target senior-level bank managers and in-house training personnel from various state and commercial banks' risk management departments. The program involves training on modern risk management, bank performance analysis and operation of commercial banks in an evolving regulatory context. In China, the CBRC will also coordinate the training with China Association of Banks and its membership.
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India (July 2005) - Mayflower Partners leads municipal water finance orientation visit in the U.S. for nine officials from India
Mayflower Partners was the technical consultant for a USTDA-sponsored "India Municipal Finance in the Water Sector" Orientation Visit in July 2005, organized by Global Marketing of Boston. The visit focused on best practices in sub-sovereign financing for the water sector, including structuring of general obligation and revenue bonds, the U.S. state revolving funds model and forms of U.S. federal and state government support for water infrastructure development. Mayflower introduced nine top Indian government officials and private sector finance professionals to senior officials at Standard & Poor's, Moody's, World Bank, IFC, Environmental Protection Agency, NY State Environmental Facilities Corporation (New York State's water revolving fund agency), New York City Water Board, Arizona Water Infrastructure Financing Authority (Arizona's state revolving fund for drinking water and wastewater financing), Department of Commerce, and USAID, among others. Tamil Nadu is the first state in India to adopt a state revolving fund model for water infrastructure financing through its Tamil Nadu Urban Development Fund (TNUDF). TNUDF's CEO and two other officials were members of the delegation.