PPPs on a global stage: regional projects

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Chapter 7 in The Rise and Fall of Public–Private Partnerships, 2024, pp 144-169 from Edward Elgar Publishing

Abstract: This chapter argues that beginning with the G8 Gleneagles Summit in 2005, PPP advocacy began to take on more urgency as a global issue. Because of the faltering implementation of development targets like the Millennium Development Goals (MDGs), the international development community started to focus on large, regional infrastructure projects in regions like Africa. Private participation was recognized as an essential element of such “transformational” projects. The Gleneagles Summit trained a spotlight on regional infrastructure needs in Africa, which was already a topic of intense discussion and debate on the African continent. At Gleneagles, the G8 recommended that the African Union undertake a study of regional infrastructure project needs in Africa, which resulted in the Program for Infrastructure Development in Africa (PIDA), issued in 2012. Most of the identified projects would require private investment, but PPPs involving multiple countries, including low-income countries, proved to be nearly impossible. Complicating matters, the after-effects of the global financial crisis in 2007-08 changed the financing rules for infrastructure and made traditional bank financing for PPPs more difficult to access. PIDA was eventually endorsed by the G20 but failed to attract any significant level of private investment. The plan was completely redesigned in 2019.

Keywords: Economics and Finance; Sustainable Development Goals (search for similar items in EconPapers)
Date: 2024
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