All Transport
Integrated Transport Development in China’s Emerging Urban Agglomerations
Discussion Paper,
2 July 2015
The Regulatory Asset Base Model and the Project Finance Model: A Comparative Analysis
Discussion Paper,
1 February 2015
Public Private Partnerships for Transport Infrastructure: Renegotiations, How to Approach Them and Economic Outcomes. Roundtable Summary and Conclusions.
Discussion Paper,
1 February 2015
Ex-post Assessment of Transport Investments and Policy Interventions
Discussion Paper,
1 January 2015
Better Regulation of Public-Private Partnerships for Transport Infrastructure
Roundtable Report, Policy Insights,
24 September 2013
- A mix of financing models spreads risks.
- A dedicated budget for PPPs, set in relation to the rate at which future liabilities will be accumulated, can provide such a limit.
- Explicit consideration of alternative financing arrangements should be employed in determining whether to proceed with PPP projects.
- It is recommended that governments require PPP projects to pass tests of affordability and to clear the hurdle rates of return generally applied to publicly financed transport projects.
- The expected cost of PPP projects should take account of cost inflation resulting from the propensity for projects to be renegotiated.
- At the individual project level, risks should be assigned to the party best able to manage them, along with rights to make related decisions.
- Assigning demand risk is not straightforward and risk sharing arrangements are therefore common.
- Continuity of resources and expertise is essential for addressing strategic behaviour and optimism bias more generally.
- Regulatory agencies are well placed to ensure transparency and accountability by publishing reports on the criteria employed to make decisions and publishing contracts.