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

This report was commissioned to draw lessons from the experiences with public private partnerships (PPPs) in the transport sector in Europe and Central Asia (ECA) countries. The report will review experiences to date with private participation in the transport sector with a primary focus on experiences in the ECA countries and Europe. To carefully prepare and select the most desirable PPP projects during the most severe economic downturn since the Second World War, availability of regional best practices would be helpful. This report will provide guidance for successful PPP implementation and will hopefully encourage public authorities to critically evaluate their project designs. The lessons from this study apply regardless of the financial crisis. While the dire economic environment will considerably impact the current PPP pipeline, the fundamental success factors for these projects will remain the same. During times of economic turmoil, evaluating past investment projects can provide lessons for stimulating the next period of economic growth. The report discusses the impact of the financial crisis separately in annex B.

Bibliographic Details

Main Authors:	Cuttaree, V., Humphreys, M., Muzira, S., Strand, J-P.
Language:	English en_US
Published:	World Bank, Washington, DC 2009-06
Subjects:	ACCOUNTING, AIRPORTS, ALTERNATIVE ROUTES, ANNUAL PAYMENTS, ASSET MANAGEMENT, BALANCE SHEET, BASIC COST, BEST PRACTICES, BID, BORROWING, BUDGET DEFICIT, BUSINESS CYCLE, CALCULATIONS, CAPACITY BUILDING, CAPITAL FLOWS, CAPITAL INVESTMENTS, CAPITAL MARKETS, CARS, CASH FLOW, CHECKS, COLLATERAL, COMPETITIVE BIDDING, CONGESTION, CONTINGENT LIABILITIES, CONTRACT LAW, CONTRACT RENEGOTIATION, CONTRACT RENEGOTIATIONS, CONTRIBUTION, CONTRIBUTIONS, COST OF CAPITAL, CREDIT ENHANCEMENT, CREDIT RATING, CREDIT RATINGS, DEBT, DEBT FINANCING, DEBT REPAYMENT, DEBT SERVICE, DEBT SERVICING, DEBT-SERVICE, DEMAND FOR TRANSPORT, DEPRECIATION, DEVELOPING COUNTRIES, DEVELOPMENT BANK, DIVERSIFICATION, DOUBLE TAXATION, DRIVERS, DRIVING, ECONOMIC ACTIVITY, ECONOMIC DEVELOPMENT, ECONOMICS, EIB, EMERGING MARKETS, ENFORCEMENT OF CONTRACT, EXPENDITURE, EXPENDITURES, FINANCIAL ANALYSIS, FINANCIAL CRISES, FINANCIAL CRISIS, FINANCIAL DISTRESS, FINANCIAL INSTITUTIONS, FINANCIAL RESOURCES, FINANCIAL SUPPORT, FINANCIAL TROUBLE, FISCAL CONSTRAINTS, FISCAL DISCIPLINE, FISCAL POSITIONS, FOREIGN CURRENCY, FOREIGN EXCHANGE, FOREIGN EXCHANGE RISK, FOREIGN INVESTMENT, FREE ROADS, GLOBAL BUSINESS, GOVERNMENT BUDGET, GOVERNMENT FINANCING, GOVERNMENT POLICY, GOVERNMENT SUPPORT, GROSS DOMESTIC PRODUCT, HIGHWAY, HIGHWAY NETWORK, HIGHWAYS, HOLDING, INCOME, INFLATION, INFLATION RATE, INFORMATION ASYMMETRY, INFRASTRUCTURE INVESTMENT, INFRASTRUCTURE INVESTMENTS, INFRASTRUCTURE PROJECTS, INSTITUTIONAL CAPACITY, INSTRUMENT, INTEREST RATE, INTERNAL RATE OF RETURN, INTERNATIONAL AIRPORT, INTERNATIONAL BANK, INTERNATIONAL CAPITAL, INTERNATIONAL FINANCIAL INSTITUTION, INTERNATIONAL FINANCIAL INSTITUTIONS, INTERNATIONAL TRADE, INTERNATIONAL TRADE LAW, INVESTING, INVESTMENT ACTIVITY, INVESTMENT BANK, INVESTMENT PROGRAMS, INVESTMENT PROJECTS, LANES, LAWS, LEGAL ENVIRONMENT, LEGAL FRAMEWORK, LEGAL PROTECTIONS, LEGISLATION, LEGISLATIVE FRAMEWORK, LENDERS, LEVY, LIABILITY, LLC, LOCAL GOVERNMENTS, MACROECONOMIC CONDITIONS, MAJOR ASSET, MARKET ECONOMY, MATURE CAPITAL MARKETS, MATURITIES, MATURITY, MINISTRIES OF FINANCE, MONETARY FUND, MOTORWAYS, MUNICIPALITIES, NATIONAL ECONOMIES, PASSENGER TRANSPORT, PERFORMANCE RISK, POLITICAL UNCERTAINTY, POOR CREDIT, POOR CREDIT RATING, POTENTIAL INVESTORS, POVERTY ALLEVIATION, PRESENT VALUE, PRIVATE FINANCE, PRIVATE FINANCING, PRIVATE FUNDS, PRIVATE INVESTMENT, PRIVATE INVESTORS, PRIVATE PARTIES, PRIVATE PARTY, PRIVATE SECTOR INVESTMENT, PRIVATE TRANSPORT, PRODUCTIVITY, PROFITABILITY, PUBLIC AGENCIES, PUBLIC DEBT, PUBLIC FINANCE, PUBLIC GOOD, PUBLIC INVESTMENT, PUBLIC SERVICE PROVISION, PUBLIC SERVICES, QUANTITATIVE ANALYSIS, RAILROADS, RAILWAY, RAILWAY SECTOR, RAILWAYS, RAPID DEVELOPMENT, RECESSION, RECURRENT EXPENDITURE, REGIONAL TRANSPORT, REGULATORY FRAMEWORK, RENEGOTIATION, RENEGOTIATIONS, RETURN ON EQUITY, RETURN ON INVESTMENT, RETURNS, RISK MANAGEMENT, RISK MITIGATION, RISK PROFILE, RISK SHARING, ROAD, ROAD INFRASTRUCTURE, ROAD NETWORK, ROAD PROJECTS, ROAD SECTOR, ROAD SYSTEM, ROAD USE, ROAD USERS, ROADS, SAFETY, SAVINGS, SHAREHOLDERS, STAKEHOLDERS, STATE PROPERTY, SUBSIDIARY, TAXATION, TECHNICAL ASSISTANCE, TELECOMMUNICATIONS, TOLL, TOLL COLLECTION, TOLL MOTORWAY, TOLL MOTORWAYS, TOLL ROAD, TOLL ROADS, TOLLS, TOTAL ANNUAL INVESTMENT, TOTAL COST, TRAFFIC, TRAFFIC DEMAND, TRAFFIC LEVELS, TRAFFIC RISK, TRAFFIC VOLUMES, TRAM, TRANSACTION, TRANSACTION COSTS, TRANSIT, TRANSITION COUNTRIES, TRANSPARENCY, TRANSPORT, TRANSPORT INFRASTRUCTURE, TRANSPORT INVESTMENT, TRANSPORT INVESTMENTS, TRANSPORT NETWORK, TRANSPORT PROJECTS, TRANSPORT SECTOR, TRANSPORT SYSTEMS, TREASURY, TREATY, VALUABLE, VEHICLE, VEHICLES, WORTH,
Online Access:	http://documents.worldbank.org/curated/en/2009/06/10849443/private-participation-transport-sector-lessons-recent-experience-europe-central-asia https://hdl.handle.net/10986/17462
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