Public-Private Partnerships: Principles of Policy and Finance

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Public-Private Partnerships
Principles of Policy and Finance

E.R. Yescombe

“Public-Private Partnerships offers a systematic presentation of the recent trend where governments look increasingly to the private sector for building and managing infrastructure facilities as well as for providing specialized services. The text covers a wide range of issues, from very general policy ones faced by authorities in considering whether to adopt the PPP route, to much more technical ones, including financial analysis, procurement, financial and legal structuring. Written by an experienced practitioner, Mr. Yescombe’s work represents an invaluable and authoritative guide to all parties involved in PPPs- from investors, bankers, companies providing infrastructure and services to public sector authorities and the public at large as the main user of PPP facilities and/or services. The book will be an excellent introduction for newcomers into the PPP business as well as a valuable reference source for all those that already have experience in the subject.”
— Mojmir Mrak, Professor of International Finance, Ljubljana Faculty of Economics, University of Ljubljana, Slovenia

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 specialised services (such as communications networks or defence equipment).

Public-Private Partnerships, based on the author’s practical experience on the public- and private-sector sides of the table, reviews the key policy issues in determining whether to adopt the PPP procurement route, and the specific application of this policy approach in PPP contracts, comparing international practices in this respect.

Public-Private Partnerships deals with both the Concession and PFI models of PPP, and provides a structured introduction to this area. The book:

• Reviews the PPP policy framework and development from an international perspective
• Covers public- and private-sector financial analysis, structuring and investment in PPPs
• Does not require any prior knowledge of project financing

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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

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Product Details

  • ISBN-13: 9780750680547
  • Publisher: Elsevier Science
  • Publication date: 5/4/2007
  • Edition description: New Edition
  • Pages: 368
  • Sales rank: 870,474
  • Product dimensions: 6.50 (w) x 9.20 (h) x 1.10 (d)

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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Table of Contents

Introduction; What are Public-Private Partnerships?; PPPs—For and Against; PPPs Worldwide; Cash Flow and Investment Analysis; The Public-Sector Investment Decision; Public-Sector Procurement and Contract Management; The Private-Sector Investor’s Perspective; Project Finance and PPPs; Private-Sector Financing—Sources and Procedures; Financial Structuring; Financial Hedging; Lenders’ Cash-flow Controls, Security and Enforcement; Service-Fee Mechanism; Risk Evaluation & Transfer; Changes in Circumstances and Termination; Funding Competition, Debt Refinancing and Equity Sale; Alternative Models

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