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Public-Private Partnerships: Principles of Policy and Finance
     

Public-Private Partnerships: Principles of Policy and Finance

by E. R. Yescombe
 

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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)

Overview

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

Editorial Reviews

From the Publisher
Yescombe’s "Public-Private Partnerships: Principles of Policy and Finance"is an invaluable tool for those studying or working in the PPP field. Thorough in scope, it covers all the major issues in PPP making it the most comprehensive reference document that has emerged to date.

—Jane Peatch, Executive Director, Canadian Council for Public-Private Partnerships

"Public-private partnerships have become the main mechanism for infrastructure development in Mexico. With this book the author provides us with a powerful tool for analysis, structuring, and financing of this type of operation."

—Jose L. Ochoa, Chief Credit Officer of Banobras, Mexico

"I'm both a researcher and a practitioner in the PPP business, and I had the opportunity to meet Ned Yescombe, sharing with him many views and concerns. He was able to produce a book simultaneously broad and concise, but rich in description and advice.

Yescombe's book on "Public-Private Partnerships" covers a broad range of issues, providing helpful and detailed guidance for contract design and for tender design. It is useful both for the researcher who needs to understand incentive schemes and for the practitioner who needs to design new contractual mechanisms able to cope with current changes in risk perception and valuation."

—Rui Sousa Monteiro, Senior Economist, Parpública, Portugal

Mr. Yescombe provides a unique and comprehensive exposition on the processes, players and current practices on structuring PPPs. This book is a friendly introduction to the subject for beginners, as well as a useful reference for practitioners.

—Akash Deep, Harvard University

Product Details

ISBN-13:
9780080489575
Publisher:
Elsevier Science
Publication date:
04/01/2011
Sold by:
Barnes & Noble
Format:
NOOK Book
Pages:
368
File size:
4 MB

Meet the Author

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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