Economic Reporter :
The Asian Development Bank (ADB) announced two new initiatives to improve and monitor the business environment for public-private partnerships (PPPs) in Asia and the Pacific.
The measures, which aim to strengthen the bankability and implementation of PPPs, were announced in Yokohama, Japan at the 50th Annual Meeting of ADB’s Board of Governors, according to the ADB.
The first initiative announced on Thursday is the Infrastructure Referee Program (IRP), which is the first program of its kind in the PPP market. Under the program, ADB will provide independent third party advice through qualified consultants to help public and private parties resolve disagreements that may arise over the life of a PPP project.
“Disagreements between public and private parties over risk allocation can arise during tendering, negotiation, construction, or operation, potentially triggering protracted delays, increased costs, and failure to deliver critical services,” said Ryuichi Kaga, Head of ADB’s Office of Public-Private Partnership (OPPP).
“ADB, through the IRP, will help resolve disagreements between public and private stakeholders and support successful delivery and implementation of PPP projects in Asia and the Pacific,” Ryuichi Kaga added.
The second initiative, the PPP Monitor, is a new ADB publication that tracks the development of the PPP business environment across ADB member countries and provides insight for the public sector on structuring a sound environment for PPPs.
The PPP Monitor’s first edition includes information on Bangladesh, the People’s Republic of China, Indonesia, Kazakhstan, Papua New Guinea, the Philippines, Thailand, and Viet Nam. Future editions are expected to cover more countries and include a broader range of factors.
The Asian Development Bank (ADB) announced two new initiatives to improve and monitor the business environment for public-private partnerships (PPPs) in Asia and the Pacific.
The measures, which aim to strengthen the bankability and implementation of PPPs, were announced in Yokohama, Japan at the 50th Annual Meeting of ADB’s Board of Governors, according to the ADB.
The first initiative announced on Thursday is the Infrastructure Referee Program (IRP), which is the first program of its kind in the PPP market. Under the program, ADB will provide independent third party advice through qualified consultants to help public and private parties resolve disagreements that may arise over the life of a PPP project.
“Disagreements between public and private parties over risk allocation can arise during tendering, negotiation, construction, or operation, potentially triggering protracted delays, increased costs, and failure to deliver critical services,” said Ryuichi Kaga, Head of ADB’s Office of Public-Private Partnership (OPPP).
“ADB, through the IRP, will help resolve disagreements between public and private stakeholders and support successful delivery and implementation of PPP projects in Asia and the Pacific,” Ryuichi Kaga added.
The second initiative, the PPP Monitor, is a new ADB publication that tracks the development of the PPP business environment across ADB member countries and provides insight for the public sector on structuring a sound environment for PPPs.
The PPP Monitor’s first edition includes information on Bangladesh, the People’s Republic of China, Indonesia, Kazakhstan, Papua New Guinea, the Philippines, Thailand, and Viet Nam. Future editions are expected to cover more countries and include a broader range of factors.
