Edward Roche Email and Phone Number

I am advising the Philippines’ Securities & Exchange Commission and its Public-Private Partnership Center on domestic capital market development with a focus on facilitating greater investment in infrastructure. This project includes both government and corporate market aspects as well as specific tools for infrastructure, such as project and green finance. Activities include expanding the investor base by helping to develop recognized green bond standards and improving risk identification and mitigation, as well as enhancing liquidity and price discovery in the government securities market.

Served as Treasury’s first resident debt advisor to the Senegalese Ministry of Finance in Dakar. Over the course of the Senegal engagement, I worked with ministry officials to professionalize the planning, issuance and management of local currency T-bills and bonds. I advised authorities as they increased gross annual issuance of local currency debt from under $300m to $1.5 billion, and also on their index-eligible, debut and follow-on dollar-denominated Eurobonds. Notable accomplishments included establishing the ministry’s Debt Management Office (DMO), developing a culture of planning and risk awareness, and introducing tools that facilitated the tracking of debt and cash needs. In addition, I advised the Guinean Ministry of Finance and the West Africa Economic and Monetary Union's Government Securities Agency. The focus of both of these projects, which I launched for the Treasury Department, was the development of local currency capital markets through improved government debt issuance and management.

As Acting Chief Risk Officer, I managed the risk team’s 8 analysts and 30 to 40 annual assessments, providing final approval on all transactions prior to presentation at the Credit Review Board. Throughout my time with the Development Credit Office, I assessed the creditworthiness of guaranteed parties (primarily commercial banks and investment vehicles) and consulted on the structuring of partial credit guarantees. My sectoral focus was on innovative financing of infrastructure in countries where USAID operated. I was an architect of the Philippines Water Revolving Fund and structured the partial-credit guarantee for a multi-sector infrastructure development project in Uganda.

As a municipal finance analyst in the Public Finance Group, I worked primarily on tax- and revenue-backed projects for both local government and infrastructure credits. I led teams of analysts focused on local credits within particular states, and helped manage relationships with both issuers and intermediaries. On the infrastructure team I was lead analyst for water and sewer systems and pooled financing mechanisms, such as state revolving funds. I was also responsible for a wide range of infrastructure credits, from air and seaports to toll roads and public power utilities.