Public-Private Partnerships in the Caribbean: Building on Early Lessons
The Caribbean faces a challenge of having relatively large infrastructure deficits against a backdrop of limited fiscal space to respond. Infrastructure is required for growth because it provides key services to businesses.Infrastructure services are also important to households and, as economies grow, more infrastructure services are demanded. There is a sense that infrastructure in the Caribbean does not deliver adequate quality services to much of the Region’s population. Caribbean governments, many of them members of CDB, are struggling to improve their infrastructure against the challenges of high debt burdens, tight budgets, declining terms of trade and lagging economies. Table 1.1 provides key statistics and benchmarks that highlight deficiencies in three important sectors in the Caribbean, viz: electricity, transport and water.