Public Private Partnerships (PPP), Challenges and the Way Forward. Delivering Growth by Partnerships- sharing UK capabilities in PPPs Presented by Veronica Bennett- Warmington Senior Director –Public Private Partnerships Public Enterprises Division Ministry of Finance and Planning
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Delivering Growth by Partnerships- sharing UK capabilities in PPPs
Veronica Bennett- Warmington
Senior Director –Public Private Partnerships
Public Enterprises Division
Ministry of Finance and Planning
Kingston, JamaicaFebruary 19,2014
Public infrastructure investment is the “heart” of the PPP programme. Infrastructure investment is :
These issues result in wasted public funds
-Divestment of state owned assets - Telecommunications, Light and Power company, Sugar company and National airline
-Arrangements with the Private sector; deferred financing of schools, roads and police stations etc.
VFM Drivers are:
Typical risks transferred include:
Process typically structured to generate competition
Hence it is the efficiency gains from the various risks transferred to the private sector that will bring about the Value for money gains.
PPPs contracts must be carefully managed; this is critical specifically during operations.
All PPPs must be paid for:
PPPs are essentially two types:
PPPs DO NOT provide fiscal space.
Other countries have improved PPP accounting , based on lessons learnt. Jamaica can therefore benefit from current best practises.
Project Implementation and Management System (PIMS)