Public-Private Partnerships: Principles of Policy & Finance

1st edition 2007 - for 2nd edition see here

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 specialised services (such as communications networks or defence equipment). “Public-Private Partnerships: Principles of Policy and Finance”, based on the author’s practical experience on the public- and private-sector sides of the table, reviews the key policy issues in determining whether to adopt the PPP procurement route, and the specific application of this policy approach in PPP contracts, comparing international practices in this respect. The book deals with both the Concession and PFI models of PPP, and provides a structured introduction to this subject.

Key Features

• The book describes and explains the different types of PPPs and how these have developed

• Why PPPs are attractive to governments—and their advantages and disadvantages

• 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

• Typical PPP contracts and sub-contracts, and their relationship with the project’s financial structure

• Risk assessment from the points of view of the public sector, investors, lenders and other project parties

• Structuring the investment and debt financing

• The key issues in negotiating a project-finance debt facility

• Extensive glossary and cross-referencing.

Click here for a full table of contents.

“Yescombe’s Public-Private Partnerships: Principles of Policy and Finance is an invaluable tool for those studying or working in the PPP field. Thorough in scope, it covers all the major issues in PPP making it the most comprehensive reference document that has emerged to date.”
Jane Peatch, Executive Director, Canadian Council for Public-Private Partnerships
 

“Mr. Yescombe provides a unique and comprehensive exposition on the processes, players and current practices on structuring PPPs. This book is a friendly introduction to the subject for beginners, as well as a useful reference for practitioners.”
Akash Deep, Senior Lecturer in Public Policy, John F. Kennedy School of Government, Harvard University
 

“Public-private partnerships have become the main mechanism for infrastructure development in Mexico. With this book the author provides us with a powerful tool for analysis, structuring, and financing of this type of operation.”
Jose L. Ochoa, Chief Credit Officer, Banco Nacional de Obras y Servicios Públicos, Mexico
 

“I'm both a researcher and a practitioner in the PPP business, and I had the opportunity to meet Ned Yescombe, sharing with him many views and concerns. He was able to produce a book simultaneously broad and concise, but rich in description and advice. Yescombe's book on Public-Private Partnerships covers a broad range of issues, providing helpful and detailed guidance for contract design and for tender design. It is useful both for the researcher who needs to understand incentive schemes and for the practitioner who needs to design new contractual mechanisms able to cope with current changes in risk perception and valuation.”
Rui Sousa Monteiro, Senior Economist, Parpública, Portugal
 

“Public-Private Partnerships: Principles of Policy and Finance offers a systematic presentation of the recent trend where governments look increasingly to the 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 will 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.