ABSTRACT
The need to bridge the infrastructure gap and yet not to place additional burden on already indebted and over-stretched public budgets, has favoured the so-called innovative procurement methods involving the private sector. These take on various forms with respect to private sector involvement and remuneration schemes and are grouped under the general term Public Private Partnerships (PPPs). In general, and in contrast to traditional public funding of infrastructure projects where each project phase (design, construction, operation and maintenance) is undertaken separately and funding is provided by the state, the PPP model envisages infrastructure delivery in a more integrated manner. More specifically, a private party may assume the responsibility for the design, build, finance, operation and maintenance of an infrastructure asset, providing the intended public service over a long concession period. During the period in question, any direct and/or indirect revenues generated by the project are used to repay lenders and generate returns for investors.
