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Launching Public Private Partnerships for Highways in Transition Economies

ALLEGATIONS OF CORRUPTION ARMENIA ASSETS AWARD OF CONTRACTS AZERBAIJAN BANK BANK GUARANTEES BELARUS BID EVALUATION BIDDERS BIDDING FOR CONCESSIONS BIDS BOARD OF DIRECTORS BOOT BOT BUILD BUILD-OWN CASH FLOW COMMERCIAL RISK COMPETITIVE BIDDING COMPETITIVE BIDDING PROCESS COMPETITIVE SOLUTIONS COMPETITIVE TENDER CONCESSION AGREEMENT CONCESSION AGREEMENTS CONCESSION CONTRACT CONCESSION LAW CONCESSION PERIOD CONCESSIONS FOR INFRASTRUCTURE CONCESSIONS LAW CONTRACT AWARD CREDIT CRITERIA DEBT DEBT SERVICE DEGREE OF COMPLIANCE DEPRECIATION DISPUTE RESOLUTION DISPUTE RESOLUTION PROCEDURES DUE DILIGENCE ECONOMIC ANALYSIS ECONOMIC GROWTH ECONOMIES IN TRANSITION ENVIRONMENTAL LIABILITIES EQUITY INVESTMENTS EXCEPTIONS EXPANSION EXPRESSIONS OF INTEREST EXPROPRIATION FEES FINANCE FINANCIAL APPRAISAL FINANCIAL CRISES FINANCIAL INSTITUTIONS FINANCIAL RESOURCES FOREIGN INVESTMENT FOREIGN INVESTORS FOREIGN PARTICIPATION GOVERNMENT OBLIGATIONS GOVERNMENTS GROSS REVENUE GUARANTEES INFRASTRUCTURE INFRASTRUCTURE CONCESSIONS INFRASTRUCTURE DEVELOPMENT INSTITUTIONAL OPTIONS INSTITUTIONAL STRUCTURE INTEREST INTERNATIONAL ARBITRATION INTERNATIONAL BANK FOR RECONSTRUCTION INVESTMENT PLANS LACK OF TRANSPARENCY LAND LAWS LEGAL FRAMEWORK LEGISLATION LENDERS LOANS MANAGEMENT MARKETS MATURITIES MATURITY MOLDOVA NATURAL RESOURCES NET PRESENT VALUE NOTE OPERATE OPERATING COSTS OWN PARTIES PER PRESENT VALUE PRINCIPAL PRIVATE CAPITAL PRIVATE COMPANY PRIVATE FINANCE PRIVATE FINANCING PRIVATE INFRASTRUCTURE PRIVATE INVESTOR PRIVATE INVESTORS PRIVATE INVOLVEMENT PRIVATE PARTICIPATION PRIVATE PARTNERSHIP PRIVATE PARTNERSHIPS PRIVATE RESOURCES PRIVATE SECTOR PRIVATE SECTOR COMPANIES PRIVATE SECTOR FINANCING PRIVATE SECTOR INVOLVEMENT PRIVATE SECTOR PARTICIPATION PRIVATIZATIONS PROJECT FINANCE PROJECTS PROVISION OF INFRASTRUCTURE PROVISION OF INFRASTRUCTURE SERVICES PROVISION OF SERVICES PROVISIONS PUBLIC PUBLIC AUTHORITIES PUBLIC DISCLOSURE PUBLIC FUNDS PUBLIC INFORMATION PUBLIC INFRASTRUCTURE PUBLIC POLICY PUBLIC PRIVATE PARTNERSHIPS PUBLIC RESOURCES PUBLIC SECTOR PUBLIC SERVICE PUBLIC SERVICES PUBLIC WORKS PUBLIC-PRIVATE PARTNERSHIPS REGULATION REGULATORY ARRANGEMENTS REGULATORY BODIES REGULATORY FRAMEWORKS RETURN ON EQUITY RISK ROAD INFRASTRUCTURE ROADS SERVICES SHAREHOLDERS SUBSIDIES TARIFFS TAXES TECHNICAL ASSISTANCE TRANSACTION COSTS TRANSFER TRANSPARENCY TRANSPORT TRANSPORT INFRASTRUCTURE TREASURY URBAN DEVELOPMENT VALUE
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World Bank, Washington, DC
Africa | East Asia and Pacific | Europe and Central Asia
2014-03-26T21:31:33Z | 2014-03-26T21:31:33Z | 2005-09

In many countries the private sector has been involved in financing infrastructure through concessions under a public-private partnership (PPP) program. PPP schemes, however, are somewhat underutilized in transition economies, where the potential financing gaps are significant and growing, and there seems to be an enormous potential for more private sector involvement in the financing and operation of highway assets in these countries. Institutions such as the World Bank can contribute to enhance private financing of road infrastructure through greater use of their guarantee power, in addition to supporting, when required, the public sector contribution to the construction cost of a PPP project through loans. Partial risk guarantees are particularly relevant in the context of seeking more private involvement in the financing of road infrastructure. This paper reviews potential applications of partial risk guarantees, the required legal framework (for example, concession law) for attracting private capital for PPP schemes, possible steps for a country to launch a program of private participation in highways, the concept of greenfield and road maintenance concession programs, and the treatment of unsolicited proposals. It also summarizes potential applications of the World Bank Toolkit for PPP in Highways as an instrument to help decision-makers and practitioners to define the best PPP approach for a specific country.

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