This paper argues for a novel approach to financing infrastructure needs in Arab countries. It first describes the context of rising public debt in the region, contrasting it with the vast infrastructure needs. It then discusses the challenges in meeting these needs with traditional financing. The paper then makes the case for maximizing finance for development by using public-private partnerships and presents a few successful examples in Arab countries. Finally, the paper explores the way forward and concludes on the need for strong state capacity and integrity to promote the “maximizing finance for development” approach.

The project finance scenario has changed significantly around the world after the 2008 financial crisis and following the subsequent Basel III recommendations. Project finance loans from commercial banks and financial institutions have largely dried up, leaving it mostly to the export credit agencies and the bilateral and multilateral development banks to provide the institutional credit. Unfortunately, those sources are not enough, given the huge needs for construction of new infrastructure and renovation of the old ones across Asia, Africa and Latin America. The need for capital markets, through market listed financial products across asset class, unlocking a large part of domestic and corporate savings, has never been felt as strongly before. This article seeks to analyze the development story of various Asian capital markets and examine financial products, which have succeeded in their short history in receiving investor interest. The article also delves into the challenges to market development, policy imperatives and the issues relating to market liquidity and credit rating, which are the most significant influencers for public market float and investor interest.

Application of nanoparticles have been proven to aid heat transfer in engineering systems. This work experimentally investigated the performance of a domestic refrigerator under the influence of Al₂O₃ nanoparticles dispersed in mineral oil based lubricant at different charges (40, 60 and 80 g) of LPG refrigerant. The performance of the system was then investigated using test parameters including: power consumption, evaporator air temperature (pull-down time), to attain the specified International Standard Organisation (ISO) requirement for standard evaporator air temperature with small refrigerator size. Results showed improved pull down time and steady state evaporator air temperatures for the nano-lubricant based LPG. Improvement of about 11.79% in coefficient of performance (COP) was obtained with Al₂O₃-lubricant based LPG at 40g charge on the refrigerator system, while reduction of about 2.08% and 4.41% in COP were observed at 60 and 80 g charge of LPG based on Al₂O₃-lubricant respectively. Furthermore, reduction of about 13.4% and 19.53% in the power consumption of the system were observed at 40 and 60g charges of Al₂O₃-lubricant based LPG, whereas at 80 g, an increase of about 1.28% was recorded. Using Al₂O₃-LPG nano-refrigerant in domestic refrigerators is economical  and also a better alternative to pure LPG.

Cucumber Variety ‘Drite L108’ (Cucumis sativus L. Cv. Derit L108) was selected as the test material. In the solar greenhouse, different days (1, 3, 5, 7, 9 d) of light (PAR < 200 µmol·m^-2·s^-1) and normal light conditions were designed with shading nets to observe the growth indexes of cucumber plants and the changes of antioxidant enzyme activities in leaves. The results showed that: (1) continuous low light increased the SPAD (relative chlorophyll) value of cucumber leaves and decreased the net photosynthetic rate. The longer the continuous low light days are, the smaller the net photosynthetic rate of cucumber leaves and the worse the photosynthetic recovery ability would be. (2) The plant height, stem diameter and leaf area per plant were lower than CK, and the above indexes could not return to the normal level after 9 days of normal light recovery; the yield and marketability of cucumber fruit decreased under continuous low illumination. (3) The activities of SOD (superoxide dismutase) and POD (peroxidase) in cucumber leaves increased, the activities of CAT (catalase) first increased and then decreased, and the content of MDA (malondialdehyde) continued to increase. The longer the days of continuous light keep, the more seriously the cucumber leaves were damaged by membrane lipid peroxidation. After continuous light for more than 7 days, the metabolic function of cucumber leaves was difficult to recover to the normal level.

In this study, nano-scale microstructural evolution in 6061-T6 alloy after laser shock processing (LSP) was studied. 6061-T6 alloy plate was subjected to multiple LSP. The LSP treated area was characterized by X-ray diffraction and the microstructure of the samples was analyzed by transmission electron microscopy. Focused Ion Beam (FIB) tools were used to prepare TEM samples in precise areas. It was found that even though aluminum had high stacking fault energy, LSP yielded to formation of ultrafine grains and deformation faults such as dislocation cells, stacking faults. The stacking fault probability (PSF) was obtained in LSP-treated alloy using X-Ray diffraction. Deformation induced stacking faults lead to the peak position shifts, broadening and asymmetry of diffraction. XRD analysis and TEM observations revealed significant densities of stacking faults in LSP-treated 6061-T6 alloy. And mechanical properties of LSP-treated alloy were also determined to understand the hardening behavior with high concentration of structural defects.

In this policy insight, the author lays out the context of the BRI and its role in global development. He also explains why the US should consider working with China on the BRI. The author opines on China’s possible approach and strategy to get global private investors to come on board for the massive BRI projects. He suggests that the global players can establish a third-party market cooperation and coordination mechanism to turn the BRI into a platform for win-win global collaboration.