Public-Private Partnerships: Principles of Policy and Finance

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Butterworth-Heinemann, 01/04/2011 - 368 páginas
1 Crítica
Over the last decade or so, private-sector financing through public-private partnerships (PPPs) has become increasingly popular around the world as a way of procuring and maintaining public-sector infrastructure, in sectors such as transportation (roads, bridges, tunnels, railways, ports, airports), social infrastructure (hospitals, schools, prisons, social housing) public utilities (water supply, waste water treatment, waste disposal), government offices and other accommodation, and other specialised services (communications networks or defence equipment).
This book, based on the author's practical experience on the public- and private-sector sides of the table, reviews the key policy issues which arise for the public sector in considering whether to adopt the PPP procurement route, and the specific application of this policy approach in PPP contracts, comparing international practices in this respect. It offers a systematic and integrated approach to financing PPPs within this public-policy framework, and explains the project-finance techniques used for this purpose. The book deals with both the Concession and PFI models of PPP, and provides a structured introduction for those who are new to the subject, whether in the academic, public-sector, investment, finance or contracting fields, as well as an aide memoire for those developing PPP policies or negotiating PPPs.

The author focuses on practical concepts, issues and techniques, and does not assume any prior knowledge of PPP policy issues or financing techniques. The book describes and explains:
* The different types of PPPs and how these have developed
* Why PPPs are attractive to governments
* General policy issues for the public sector in developing a PPP programme
* PPP procurement procedures and bid evaluation
* The use of project-finance techniques for PPPs
* Sources of funding
* Typical PPP contracts and sub-contracts, and their relationship with the project’s financial structure
* Risk assessment from the points of view of the public sector, investors, lenders and other project parties
* Structuring the investment and debt financing
* The key issues in negotiating a project-finance debt facility.
In addition the book includes an extensive glossary, as well as cross-referencing.

*Reviews the PPP policy framework and development from an international perspective
*Covers public- and private-sector financial analysis, structuring and investment in PPPs
*No prior knowledge of project financing required
 

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Índice

Chapter 1 What are Publicprivate Partnerships?
1
Chapter 2 PPPsFor and Against
15
Chapter 3 PPPs Worldwide
29
Chapter 4 Cash Flow and Investment Analysis
49
Chapter 5 The PublicSector Investment Decision
58
Chapter 6 PublicSector Procurement and Contract Management
74
Chapter 7 The PrivateSector Investors Perspective
96
Chapter 8 Project Finance and PPPs
113
Chapter 11 Financial Hedging
171
Chapter 12 Lenders CashFlow Controls Security and Enforcement
202
Chapter 13 ServiceFee Mechanism
223
Chapter 14 Risk evaluation and transfer
242
Chapter 15 Changes in circumstances and termination
270
Chapter 16 Funding competition debt refinancing and equity sale
292
Chapter 17 Alternative models
310
Bibliography
327

Chapter 9 PrivateSector Financing Sources and Procedures
124
Chapter 10 Financial Structuring
143
Glossary and Abbreviations
334

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Página 344 - ... Fellow of Robinson College, Cambridge, UK, speaking at a seminar on The Elusive Concept of Sovereignty, held at the Finnish Institute in April 1996.

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Acerca do autor (2011)

E.R. Yescombe is an independent consultant on project finance and public-private partnerships (PPPs), advising investors on financing for power, infrastructure and PPP projects, as well as public-sector entities on PPP policy issues, project procurement and contracting.

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