A Practical Guide to Private Participation in Infrastructure: Project Development and Project Finance
Publisher: World Bank Publications (October 15, 2009)
Format: PDF / Kindle / ePub
Size: 5.9 MB
Downloadable formats: PDF
Investment in infrastructure is critical to economic growth, quality of life, poverty reduction, access to education, good quality healthcare and achieving many of the goals of a robust and dynamic economy. But infrastructure is difficult for the public sector to get right. The private sector (through public participation in infrastructure – PPI also known as public-private partnerships - PPP) can help; it can provide more efficient procurement (cheaper, faster and better quality), refocus infrastructure services on consumer satisfaction and life cycle maintenance, place the financial burden of providing infrastructure on consumers rather than taxpayers and provide new sources of investment, in particular through limited recourse debt (aka project financing). But PPI presents challenges of its own. This book provides a practical guide for policy makers and strategists to PPI, how governments can enable and encourage PPI, step by step analysis of the development of PPI projects, how PPI financing works, what PPI contractual structures look like and most importantly how PPI risk allocation works in practice, including specific discussion of each infrastructure sector.