Investment projects implementation through public-private partnerships models

Brnjas, Zvonko and Stošić, Ivan (2015) Investment projects implementation through public-private partnerships models. In: New еconomic policy reforms. Belgrade Banking Academy, Belgrade, pp. 402-417. ISBN 978-86-7852-036-5

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Abstract

The topic of this article is the public-private partnership (PPP) as a specific form of investment projects implementation which is assuming cooperation between partners from public and private sectors. Commonly those investment projects are within jurisdiction of local and/or government of higher levels and refer to implementation of the capital infrastructural projects such as the construction of roads, bridges, tunnels, streets, communal utilities, schools, pre-school, sports and social facilities, etc. The rationales for using PPP are numerous, but, basically from the point of public partner, it is expected that PPP will provide additional capital and a greater level of management and operational efficiency. For the public sector it is also very important that the model of financing projects through PPP does not affect public indebtedness since the borrowing within this model usually is incurred by private partner. From the point of the private sector, participating in the PPP models is opening new windows in the growing market of public services. In the article the modalities of PPPs that are most commonly used in the practice are presented; also the organizational and institutional framework of the PPP functioning in Serbia which was completed by the adoption of Law on PPP and Concession in 2011 is elaborated; and finally the initial experience of this model implementation is Serbia are presented and compared with the practices in the Region (Western Balkans) and in the European Union.

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