CDB, global development partners launch Toolkit to support Public-Private Partnerships in the Caribbean
Regional governments, companies, investors and financiers interested in Public-Private Partnerships (PPPs) now have access to an online tool which offers guidance and practical assistance in preparing and managing PPP projects.
The Caribbean PPP Toolkit, a joint initiative of the Caribbean Development Bank (CDB), the World Bank (WB), Public-Private Infrastructure Advisory Facility (PPIAF), Inter-American Development Bank (IDB), and the Multilateral Investment Fund (MIF), was launched today in the Turks and Caicos Islands, ahead of the 47th Annual Meeting of the Board of Governors of CDB.
The Toolkit covers key areas of PPP theory and practice, with specific focus on the Caribbean, including: how to protect the public interest while attracting private investors; enabling environment, PPP policy and institutional structures; project identification; business case development; transaction implementation and contract monitoring. The Toolkit’s six modules are based on global best practice, adapted to Caribbean conditions, and draws upon lessons from Caribbean PPP experiences. Effective 23rd May, 2017, the PPP Toolkit is available on CDB’s website, and will also be available on the World Bank’s PPP Knowledge Lab, and the IDB’s website.
Daniel Best, CDB’s Director of Projects, said: “Most countries in the Caribbean share similar economic, legal and regulatory systems, and face additional challenges of small size, lack of fiscal space and extreme climate vulnerability. These factors must be taken into account when structuring and implementing Caribbean PPP programmes and projects. This Toolkit considers these characteristics, and provides PPP practitioners with basic knowledge for the effective selection and execution of PPP projects.”
Rui Monteiro, Senior PPP Specialist, World Bank, added: “This Toolkit will have immediate impact in our dialogue with the several client governments in the Caribbean that are initiating PPP programs, allowing them to benchmark their practices, namely on PPP policy and on project selection.”
Jerry Butler, Executive Director for Caribbean Countries, IDB, said “This PPP toolkit will no doubt contribute to the need to create a reservoir of technical expertise in the Infrastructure pipeline for the Caribbean. The IADB is proud to play a role in the regional development partnership with CDB. We hope that the capacity building, bootcamp exercises, and identification of PPP opportunities derived from the toolkit will deliver more efficient and much more effective value of goods and services to our people in the region and contribute to poverty alleviation and a more inclusive civilization. We know this launch is just the start of an excellent dynamic initiative.”
The Caribbean PPP Toolkit is a product of the PPP Regional Support Mechanism (RSM), an 18-month programme designed to build capacity of government agencies to develop and implement PPP projects. CDB is the primary implementing agency, with additional funding and technical support from IDB / MIF and WB / PPIAF.