Investor Presentaiton

Real assets Options for resource revenue spending Investment Abroad Domestically e.g. acquisition of foreign companies, technology, infrastructure Public secti Resource rents Financial assets Domestically e.g. KWAN fund in Malaysia; Fonds de régulation des recettes in Algeria Private sector Abroad Public spending e.g. recurrent government expenditures Consumption Private spending Unconditional transfer e.g. citizen dividend schemes in Alaska or lowered taxes (MENA region and GCC countries) Conditional transfer e.g. consumption subsidies, transfers for specific purposes General capabilities e.g. Infrastructure, human capital, governance capabilities for investment efficiency Specific capabilities e.g. investments to promote the non resource tradable sector General e.g. bank landing or subsidised credit Targeted Conditional credit upon certain activities (e.g. non resource tradable sector) Safe assets Low-risk assets for savings purposes, e.g. bonds (as pursued by Botswana's Pula Fund, Chile's ESSF) High yielding assets Investments in strategic assets to generate high returns. (e.g. Qatar Investment Authority, Norwegian Pension Fund) Chile and Botswana: the other side of the coin Kicking away the resource-based development ladder Long term export diversification Fiscal Stabilisation

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