Investment in infrastructure is critical to economic growth, quality of life, poverty reduction, access to education, healthcare, and achieving many of the goals of a robust economy. But infrastructure is difficult for the public sector to get right. Public-private partnerships (PPPs) can help; they provide more efficient procurement, focus on consumer satisfaction and life cycle maintenance, and provide new sources of investment, in particular through limited recourse debt. But PPPs present challenges of their own. This book provides a practical guide to PPPs for policy makers and strategists, showing how governments can enable and encourage PPPs, providing a step-by-step analysis of the development of PPP projects, and explaining how PPP financing works, what PPP contractual structures look like, and how PPP risk allocation works in practice. It includes specific discussion of each infrastructure sector, with a focus on the strategic and policy issues essential for successful development of infrastructure through PPPs.

‘In the wake of the financial crisis, governments are increasingly looking to the private sector to help deliver infrastructure services. Attracting this kind of investment requires a clear policy shift for many governments in emerging markets, often with the close support of the World Bank and other development partners. This book is a vital resource for those governments, their advisers, and investors alike.’

Inger Andersen - Director, Sustainable Development Department, World Bank

‘This is the best book I’ve ever read for strategic managers working with public-private partnership (PPP) projects to increase economic productivity.’

Roman Golovanov - Head of PPP Unit of the Committee for Strategic Projects and Investments, Government of Saint-Petersburg

‘Jeff Delmon has a wealth of experience over many years and in different sectors advising on complex PPP projects in a number of capacities. These include his time as a senior lawyer with a world-leading projects practice and as a development specialist with the government of the United Kingdom. Now an investment banker with the World Bank, Jeff is a gifted communicator and is able to convey through this book his understanding in a way that is clear and approachable both for the newcomer and for those experienced in the field.’

John Scriven - Allen and Overy, London

‘An essential work for policy makers and students of PPPs. This book provides an insightful overview of the PPP process and its sectoral implications, taking advantage of the author’s extensive experience in PPP transactions.’

Arthur L. Smith - Past Chairman, U.S. National Council for Public-Private Partnerships, Washington DC

‘This book is really a PPP bible. It is fascinating and resourceful. I will keep it with me always.’

Rania Zayed - First Under-Secretary in the Ministry of Finance and Director of the PPP Central Unit, Arab Republic of Egypt