Public-Private Partnerships

1st Edition

Principles of Policy and Finance

Authors: E. R. Yescombe E. R. Yescombe
Hardcover ISBN: 9780750680547
eBook ISBN: 9780080489575
Imprint: Butterworth-Heinemann
Published Date: 20th March 2007
Page Count: 368
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Description

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<BR id="CR

Key Features

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

Readership

PPP and project financing specialists and consultants, public sector officials developing PPPs, private sector investors in PPP projects, MBA students studying project finance, other professionals involved in PPPs: construction and maintenance contractors, lawyers, accountants, engineers, transport economists.

Table of Contents

Introduction

Chapter 1 What are Public-Private Partnerships? Introduction Public Infrastructure and the Private Sector Public-Private Partnerships Development and Structures PPPs and Public Infrastructure Types of PPP

Chapter 2 PPPs—For and Against Introduction New Public Management Privatisation and PPPs Budgetary Benefit Additionality Financing Cost and Risk Transfer Risk Transfer and Value for Money Economies of Scale Whole-Life Costing and Maintenance Private-Sector Skills Public-Sector Reform Complexity Flexibility PPPs and Politics

Chapter 3 PPPs Worldwide Introduction Developing PPP Programmes Legal Framework United Kingdom United States Australia France Korea Spain South Africa

Chapter 4 Cash Flow and Investment Analysis Introduction Net Present Value / Discounted Cash Flow Internal Rate of Return Problems with DCF and IRR Calculations Uses in PPPs

Chapter 5 The Public-Sector Investment Decision Introduction Economic Justification Value for Money and the Public-Sector Comparator Affordability Balance-Sheet Treatment

Chapter 6 Public-Sector Procurement and Contract Management Introduction Project Management Procurement Procedures Other Procurement Issues Due Diligence Contract Management External Advisers

Chapter 7 T

Details

No. of pages:
368
Language:
English
Copyright:
© Butterworth-Heinemann 2007
Published:
Imprint:
Butterworth-Heinemann
eBook ISBN:
9780080489575
Hardcover ISBN:
9780750680547

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 Yescombe is an expert in project finance, leasing, export credits, real estate finance, and asset finance.

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 Yescombe is an expert in project finance, leasing, export credits, real estate finance, and asset finance.

Reviews

"This extremely useful book offers a systematic presentation of the recent trend where governments look increasingly to 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 is expected to 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