Better Regulation of Public-Private Partnerships for Transport Infrastructure
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Better Regulation of Public-Private Partnerships for Transport Infrastructure

Many governments seek to attract private finance for infrastructure through public-private partnerships (PPPs) in order to maintain investment at the same time as limiting public spending. Experience with PPPs has, however, been mixed. Some transport PPP projects have delivered major cost savings but many more have exceeded their budgets. PPPs are prone to overestimating revenues and when projects run into financial difficulty, risks have a tendency to revert to the
taxpayer.

The report examines the nature of risks and uncertainty associated with different types of PPP project and the practical consequences of transferring risks to private partners. It assesses the fiscal impact of PPPs and discusses budget procedures and accounting rules to limit the public liabilities they can create. The report also reviews the relative merits of tolls, availability payments and regulated asset base models for attracting finance for public infrastructure from private investors on a sustainable basis.

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Budgeting and reporting for public-private partnerships katja funke, tim irwin and isabel rial (imf) You do not have access to this content

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Author(s):
OECD

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The views expressed herein are those of the authors and should not be attributed to the IMF, its Executive Board, or its management. The authors are grateful for advice and comments from Richard Allen, Ben Clements, Sagé De Clerk, Renaud Duplay, Richard Hughes, Kris Kaufmann, Florence Kuteesa, Chita Marzan, Jason Loos, Delphine Moretti, Kamlesh Patel, Stephen Perkins, Gerd Schwartz, and Johan Seiwald, as well as the participants in the International Transport Forum roundtable, September 27–28, 2012. Further comments are welcome. The authors can be reached at [email protected], [email protected], and [email protected]

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