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INNOVATIVE PRIVATE SECTOR PARTICIPATION IN ROAD INFRASTRUCTURE

César Queiroz

Abstract

This paper reviews the current trend to involve the private sector in the financing of road infrastructure, and discusses how the World Bank can contribute in attracting private capital to infrastructure projects through use of its guarantee power. The paper also addresses several innovative options to involve the private sector even if financing still comes from public sources, towards improved management of transport assets. The process begins with separating the functions of planning and management from implementation of civil works, and includes the introduction of long-term performance-based contracts. Some observed benefits are a more rational reallocation of performance risks, increased contractor innovation, and reduction of project life cycle costs.

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Key concepts: Private sector, Finance, Business, Private capital, Transport infrastructure, Critical infrastructure, Public sector, Capital (architecture)