The focus of this paper is "public-private partnerships" (PPPs), a promising approach to the development of public-use toll roads. PPPs represent an evolving approach to government-private sector relationships for toll road development that has certain advantages over the conventional Build-Operate-Transfer (BOT) concession, where pure project finance is neither feasible nor desirable. PPPs do not represent a new model, but rather a variation based on a higher level of co-operative cost and risk sharing. In partnerships, the public sector plays a significantly increased role in providing project assets and finance, in effect becoming an actual development partner rather than a client. There is no single recipe for all potential applications. In fact, recent examples present a range of sharing options that are proving valuable in the variety of contexts around the world. (Author/publisher)
Abstract