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Published online by Cambridge University Press: 05 June 2012
Poor infrastructure impedes a nation's economic growth and international competitiveness. Insufficient infrastructure also represents a major cause of loss of quality of life, illness, and death. Infrastructure projects have high social rates of return; research indicates that the growth generated by infrastructure investment is pro-poor, with income levels of the poor rising more than proportionately to overall income increases. Yet, whereas the public sector provides the vast majority of financing for infrastructure services, investments have not matched demand, and governments are seeking methods to improve the efficient procurement of infrastructure services. Public-Private Participation (PPP) in infrastructure is one of the tools in a policy maker's arsenal to help increase investment in infrastructure services and improve its efficiency.
Terminology
PPP is used here in its most inclusive form, to mean any contractual or legal relationship between public and private entities aimed at improving and/or expanding infrastructure services, but excluding public works contracts. The term “government” will be used to mean the level of government responsible for the reform processes, whether it be the federal, state, or municipal government. For ease of reference, the two counterparties to the main project contract will be referred to as the “grantor” on the public side and the “project company” on the private side.
PPP represents an approach to procuring infrastructure services that is radically different from traditional public procurement, with numerous associated challenges.
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