Semantic web approach for dealing with administrative boundary revisions: a case study of Dhaka City

Dissertation submitted in partial fulfillment of the requirements for the Degree of Master of Science in Geospatial Technologies.

The Portuguese Administrative Elite, 1851-1910

The aim of this article is to examine the composition and patterns of recruitment of the ministries’directors-general, as well as to assess the interconnections between bureaucracy and politics, from the beginnings of Regeneração (1851) until the breakdown of Monarchy (1910). The post of director-general was considered one of “political trust”, that might be filled by individuals from outside the civil service, and the selection and de-selection of officeholders depended exclusively on the ministers’ will. Nonetheless, most directors-general were experienced bureaucrats, boasting a steady career as civil servants, and remained in office for long terms, regardless of ministerial discontinuities. In other words, High Administration became relatively immune to party-driven politics. Due to their professional background and lengthy tenure, directors-general were usually highly skilled specialists, combining technical expertise and practical knowledge of the wheels of state bureaucracy. Hence, they were often influential actors in policy-making, playing an active (and sometimes decisive) part behind the scenes, in both designing and implementing government policies. As regards their social profile, directors-general formed a cohesive and homogeneous elite group: being predominantly drawn from urban middle class milieus, highly educated, and appointed to office in their forties.

On project finance and the first road concession in Portugal

In broad sense, Project Financing1 as a mean of financing large scale infrastructural projects worldwide has had a steady growth in popularity for the last 20 years. This growth has been relatively unscathed from most economic cycles. However in the wake of the 2007 systemic Financial Crisis, Project Financing was also in trouble. The liquidity freeze and credit crunch that ensued affected all parties involved. Traditional Lenders, of this type of financial instrument, locked-in long-term contractual obligations, were severely hit with scarcity of funding compounded by rapidly increasing cost of funding. All the while, Banks were “rescued” by the concerted actions of Central Banks and other Multi-Lateral Agencies around the world but at the same time “stressed” by upcoming regulatory effort (Basel Committee). This impact resulted in specific changes to this type of long-term financing. Changes such as Commercial Banks’ increased risk aversion; pricing increase and maturities decrease of credit facilities; enforcement of Market Disruption Event clauses; partial responsibility for project risk by Multilateral Agencies; and adoption of utility-like availability payments in other industrial sectors such as transportation and even social infrastructure. To the extent possible, this report is then divided in three parts. First, it begins with a more instructional part, touching academic literature (theory) and giving the Banks perspective (practice), but mostly as an overview of Project Finance for awareness’ sake. The renowned Harvard Business School professor – Benjamin Esty, states2 that Project Finance is a “relatively unexplored territory for both empirical and theoretical research” which means that academic research efforts are lagging the practice of Project Finance. Second, the report presents a practical case regarding the first Road Concession in Portugal in 1998 ending with the lessons learned 10 years after Financial Close. Lastly, the report concludes with the analysis of the current trends and changes to the industry post Financial Crisis of the late 2000’s. To achieve this I’ll reference relevant papers, books on the subject, online articles and my own experience in the Project Finance Department at a major Portuguese Investment Bank. Regarding the latter, with the signing of a confidentiality agreement, I’m duly omitting sensitive and proprietary bank information.