Private Participation in Transport : Lessons from Recent Experience in Europe and Central Asia

Facing fiscal constraints, many governments in Central and Eastern Europe and Southeastern Europe have pursued private finance for transport infrastructure more to move investments off budget than to improve efficiency and services. Results have been mixed and suggest a need to focus more on public-private partnerships (PPPs) that can achieve value for money. Today's economic environment will reduce the potential for PPP projects in the short term. Some PPP projects at an advanced stage of procurement may need additional public support, while ambitious projects may need to be phased to reduce their scale to what the market can absorb.

Bibliographic Details

Main Author:	Monsalve, Carolina
Language:	English
Published:	World Bank, Washington, DC 2009-06
Subjects:	ALLOCATION OF RISK, CAPACITY BUILDING, CAPITAL INVESTMENTS, CASH FLOW, CHECKS, COMPETITIVE PROCUREMENT, CONCESSION, CONCESSIONAIRES, CONTRACT MONITORING, DEBT, DEBT REPAYMENT, DEBT SERVICE, DEBTS, ECONOMIC ANALYSIS, ECONOMIC SITUATION, EXISTING DEBTS, EXPENDITURE, EXPENDITURES, FINANCIAL CLOSURE, FINANCIAL DISTRESS, FINANCIAL SUPPORT, FINANCIAL VIABILITY, FINANCIERS, FISCAL CONSTRAINTS, FOREIGN EXCHANGE, FOREIGN EXCHANGE RISK, GOVERNMENT SUPPORT, HIGH DEBT, HIGHWAY, INFLATION, INFORMATION ASYMMETRY, INFRASTRUCTURE PROJECTS, INSTITUTIONAL FRAMEWORK, INTERNATIONAL AIRPORT, INTERNATIONAL FINANCIAL INSTITUTIONS, INVESTOR INTEREST, LEGAL ACTION, LEGAL FRAMEWORK, LENDERS, LOCAL CURRENCY, LONG-TERM DEBT, MATURITIES, MOTORWAY PROJECTS, PERFORMANCE RISK, POLITICAL UNCERTAINTIES, PRIVATE FINANCE, PRIVATE FINANCING, PRIVATE INFRASTRUCTURE, PRIVATE INVESTMENT, PRIVATE SECTOR, PUBLIC, PUBLIC EXPENDITURE, PUBLIC FINANCES, PUBLIC PROCUREMENT, PUBLIC SECTOR, REGULATORY FRAMEWORK, RENEGOTIATIONS, RETURN, REVENUE GUARANTEES, REVENUE SHORTFALLS, RISK ALLOCATION, RISK PROFILE, RISK SHARING, ROAD, ROAD CONCESSION, ROAD PROJECTS, ROAD SYSTEM, ROAD USE, ROADS, ROUTE, SAVINGS, SHADOW TOLLS, TOLL, TOLL MOTORWAY, TOLL RATES, TOLL ROAD, TOLLS, TRAFFIC, TRAFFIC FORECASTS, TRAFFIC LEVELS, TRAFFIC RISK, TRANSACTION, TRANSPARENCY, TRANSPORT, TRANSPORT INFRASTRUCTURE, TRANSPORT PROJECTS, TRANSPORT SECTOR, USER CHARGES, WILLINGNESS TO PAY,
Online Access:	http://documents.worldbank.org/curated/en/2009/06/11401932/private-participation-transport-lessons-recent-experience-europe-central-asia https://hdl.handle.net/10986/10540
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