from Philstar.com *click HERE for original article
MANILA (Xinhua) – The Manila-based Asian Development Bank (ADB) and the Australian government will pour 8.5 million U.S. dollars in the Philippines to help the country jump-start its public-private partnerships (PPP) program.
The ADB said Wednesday that the grants will help the Philippines clear obstacles to its PPP projects, by strengthening the government's capacity to develop, competitively tender and monitor implementation of PPP projects.
This, the ADB said, will pave the way for increased private investment in infrastructure.
Matching the support from development partners, the Philippine government will provide 8 million U.S. dollars.
The project is slated to run from April 2011 to July 2013 and the Philippine government is set to bid out its two major train lines as the first of the government's PPP infrastructure projects.
"The government recognizes the need to improve the systems and capacity for preparing bankable PPPs. The goal of the project is to boost the public sector's ability to promote and carry out successful PPP projects that will, in turn, provide better services to citizens and contribute to inclusive economic growth," Neeraj Jain, Country Director for ADB's Philippines Country Office, said.
The ADB said underinvestment in infrastructure is a major development constraint for the Philippines, with private funding falling sharply in recent years due to insufficient public sector capacity to effectively develop projects.
An unpredictable policy environment, right of way land acquisition issues, financing gaps and a lack of clarity regarding government support have all undermined the development of PPPs.
MANILA (Xinhua) – The Manila-based Asian Development Bank (ADB) and the Australian government will pour 8.5 million U.S. dollars in the Philippines to help the country jump-start its public-private partnerships (PPP) program.
The ADB said Wednesday that the grants will help the Philippines clear obstacles to its PPP projects, by strengthening the government's capacity to develop, competitively tender and monitor implementation of PPP projects.
This, the ADB said, will pave the way for increased private investment in infrastructure.
Matching the support from development partners, the Philippine government will provide 8 million U.S. dollars.
The project is slated to run from April 2011 to July 2013 and the Philippine government is set to bid out its two major train lines as the first of the government's PPP infrastructure projects.
"The government recognizes the need to improve the systems and capacity for preparing bankable PPPs. The goal of the project is to boost the public sector's ability to promote and carry out successful PPP projects that will, in turn, provide better services to citizens and contribute to inclusive economic growth," Neeraj Jain, Country Director for ADB's Philippines Country Office, said.
The ADB said underinvestment in infrastructure is a major development constraint for the Philippines, with private funding falling sharply in recent years due to insufficient public sector capacity to effectively develop projects.
An unpredictable policy environment, right of way land acquisition issues, financing gaps and a lack of clarity regarding government support have all undermined the development of PPPs.
The Philippine government is now seeking to expand PPPs to address infrastructure gaps, and has requested the development partners to help tackle current constraints.
*Hopefully some good will come out of this PPP and that the nation will benefit with the infratstructure which is lagging behind it's neighbors!
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