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Public Private Partnerships for Infrastructure Financing

Learn about the benefits and pitfalls of PPP concessions laws, enforcement challenges, and key points in structuring legal documents for successful public-private partnerships in infrastructure financing. Discover the importance of aligning documentation with the PPP process to ensure clarity and effective risk allocation.

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Public Private Partnerships for Infrastructure Financing

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  1. Public Private Partnerships for Infrastructure Financing OECD Middle East and North Africa Initiative on Governance and Investment for Development Istanbul - 8 November 2006 Mary Bonar Stephenson Harwood mary.bonar@shlegal.com

  2. Benefits of a PPP Concessions Law

  3. Pitfalls of a PPP Concessions Law Inflexibility – PPPs vary from sector to sector eg water, transport, energy Incompatibility with the general framework – PPP has to function in local environment eg workforce, supplies, sales Public acceptance not guaranteed – Political issue to be managed eg monopoly rights, non-payment culture Enforcement – Needs to work for government, private sector and general public

  4. Key points about the legal documents • Complex structures require many documents • Start before the competition not afterwards • Documents need to reflect the required or agreed risk allocation • Drafting and negotiation should not distort that risk allocation

  5. Outline Structure – parties and legal documents INTERNATIONAL FUNDERS GOVERNMENT SPONSOR EXPORT CREDIT AGENCIES/BANKS Direct Agreement PPP Concession Contract SHAREHOLDERS/ PARTICIPANTS CONCESSION VEHICLE Equity Funding Terms LOCAL FUNDERS Documentation Security Documents Insurance Contracts Subcontracts INSURERS CONSTRUCTION CONTRACTOR OPERATOR MAINTAINER Direct Agreements/ Step-in arrangements

  6. Match the documentation to the process

  7. Match the documentation to the process - 2

  8. Offices Athens Associated Bucharest Associated Guangzhou Hong Kong Johannesburg Associated Kuwait Associated London Paris Associated Piraeus Shanghai Singapore Mary Bonar Direct Line: +44 (0)20 7809 2061 Direct Fax: +44 (0)20 7003 8255 Email: mary.bonar@shlegal.com Web: www.shlegal.com

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