Public-Private Partnerships for Infrastructure - 2nd Edition - ISBN: 9780081007662

Public-Private Partnerships for Infrastructure

2nd Edition

Principles of Policy and Finance

Authors: E. R. Yescombe Edward Farquharson
Hardcover ISBN: 9780081007662
Imprint: Butterworth-Heinemann
Published Date: 1st February 2018
Page Count: 395
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Description

Public-Private Partnerships for Infrastructure - Principles of Policy and Finance, Second Edition explains how public private partnerships are prepared, procured, financed, and managed from both the public- and private-sector perspectives. As the use of public private partnerships continues to develop world-wide, both in the area of public policy and private financing and contracting, the Second Edition of this leading textbook:

  • Captures and explains the latest approaches, providing a comprehensive all-round guide for those on both the public- and private-sector sides of the table.
  • Emphasises a step-by-step approach within a comprehensive, cross-referenced format.
  • Includes clear explanations of PPP evaluation, structuring and financing concepts for the benefit of those new to the topic: no prior knowledge is assumed or required.
  • Provides detailed reference points for more experienced practitioners.
  • Draws from the authors’ experience and practice in both mature and developing PPP markets to provide a perspective on practical application of the key underlying principles.
  • Includes a comprehensive glossary of technical and financial terms used in the PPP sector.

About the Authors

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.

Edward Farquharson is an adviser in the European PPP Expertise Centre (a division of the European Investment Bank) with a background in the public and private sectors in financing and developing PPP projects and policies world-wide.

Key Features

  • Includes more technical information and a stronger legal perspective than other books
  • Emphasizes a step-by-step approach within a comprehensive, cross-referenced format
  • Expands and updates the historical backgrounds and political contexts of public-private partnerships

Readership

Private sector investors and lenders who want to learn about public-private partnerships. Upper-division undergraduates and graduate students studying the financing of large projects. These students are typically interested in public policy issues and in structured finance, a portfolio of techniques usually implemented by large corporations and commercial banks.

Table of Contents

PART 1: INTRODUCTION

1. Overview

2. What are Public-Private Partnerships?

3. Cash Flow and Investment Analysis

PART 2: THE PUBLIC-SECTOR PERSPECTIVE

4. Policy, Legal and Institutional Frameworks

5. The Project Cycle

6. Public-Sector Project Management

7. Assessing Needs, Project Definition and Selection

8. The PPP Decision—Value for Money

9. The PPP Decision—Affordability, Budgeting and Reporting

10. PPP Procurement

PART 3: PPP RISK ANALYSIS AND ALLOCATION

11. Risk Analysis—Theory and Methodologies

12. Risk Allocation—Construction Phase

13. Risk Allocation—Operation Phase

14. The Rôle of Insurance

PART 4: THE PPP CONTRACT

15. Service-Fee Payment Mechanism

16. Changes in Circumstances

17. Termination

18. Public-Sector Support for PPP Contracts

19. Public-Sector Contract Management

PART 5: THE PRIVATE-SECTOR PERSPECTIVE

20. Sponsors and Other Investors

21. Project Finance and PPPs

22. Project-Finance Debt—Sources and Procedures

23. Financial Structuring

24. Macroeconomic Risks and Hedging

25. Lenders’ Cash-Flow Controls, Security and Enforcement

26. Debt Refinancing and Equity Sale

PART 6: ALTERNATIVE MODELS – SUMMING UP

27. Alternative Models

28. PPPs—For and Against

Details

No. of pages:
395
Language:
English
Copyright:
© Butterworth-Heinemann 2018
Published:
Imprint:
Butterworth-Heinemann
Hardcover ISBN:
9780081007662

About the Author

E. R. Yescombe

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.

Affiliations and Expertise

YCL Consulting, London UK

Edward Farquharson

Affiliations and Expertise

Principal Advisor, European PPP Expertise Centre

Reviews

"Public-Private Partnerships are now an indispensable tool in the modern public finance practitioner's toolkit. Public-Private Partnerships for Infrastructure is the definitive treatment of the financial, legal, and governance details of this essential subject."  --Justin Marlowe, University of Washington

"A generation of PPP experts have been bought up on this important book, the rework by Yescombe and Farquharson will ensure that it is fit for the next generation as well. Highly recommended."  --Chris Heathcote, Global Infrastructure Hub

"Yescombe and Farquharson have provided a complete and authoritative »must-read« guide for all those interested in private-public partnerships (PPPs). The well organized and clearly written book offers a systemic presentation of a wide range of issues that are of crucial importance for all public- and private sector partners sitting around the table negotiating a transaction. The text is not only an excellent introduction for all those who are newcomers in the PPP business, but also a valuable aide memoire for all those who are either involved in the design and / or implementation of PPP policies or in the structuring and / managing specific PPP projects."  --Mojmir Mrak, University of Ljubljana

"Public-Private Partnerships for Infrastructure by Yescombe and his co-author Farquharson is a sophisticated and comprehensive treatment of public-private partnerships and their financing. Yescombe’s Principles of Project Finance has long been the best available text on project finance, and this new volume will occupy a similar position in the literature on public-private partnerships."  --Robert Sheppard, University of South Carolina

"Public-Private Partnerships (PPPs) are increasingly being utilised as a global method of procurement – yet their successful implementation relies on sufficient knowledge and delivery capacity in both the public and the private sector. Yescombe and Farquharson’s new, expanded and fully comprehensive volume covering all aspects of the PPP process from initial procurement, valuation and financing will be a crucial tool providing not only education to those newly engaged in PPPs but also as a ‘go-to’ reference source to current practitioners in respect both of policy and finance issues. This clear and well written guide incorporates both the authors’ full understanding of the basic concepts as well as exhibiting their practical knowledge of delivery issues. Certainly a book I will be recommending to others as well as dipping into myself from time to time. Well done on making a key contribution to long term investment in infrastructure, delivering value for money, whole of life costed and quality controlled assets!"  --Julia Prescot, Chief Strategy Officer, Meridiam Infrastructure, Commissioner, UK National Infrastructure Commission