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Table of Contents
Intro
Preface
Contents
About the Authors
List of Figures
List of Boxes
List of Tables
Chapter 1: Public-Private Partnerships for Infrastructure and Service Delivery: An Introduction
1.1 Public-Private Collaborations in General: A Comprehensive Framework
1.2 PPP: Main Features and Applications
1.3 Policy Goals Beyond PPP and the Challenges to Achieve Them
1.4 From Traditional to Strategic Procurement: Lessons from Covid-19 to Create a Shared Culture to Foster Partnership Between Public and Private Sectors
Bibliography
Chapter 2: Private Investments for Infrastructure
2.1 Investing in Infrastructure
2.2 Blended Finance: A Meso-Level Partnership to Attract Investors (also) in Infrastructure
2.3 Specific Policy Measures to Attract Investors in PPP Transactions
References
Chapter 3: PPP Legal Framework
3.1 The Development of an EU Legal Framework on PPP
3.2 Court Case Law on Concessions and the Concessions Directive: No More Ambiguities and False Myths
3.2.1 The First Myth: "Operating Risk Must be Quantified So As to Reach a Certain Minimum Amount."
3.2.2 The Second Myth: "Operating Risk may Only be Based on Demand"
3.2.3 The Third Myth: "Concessions are Based on a Three-Party Relationship, Whereby the Concessionaire Recoups its Investments and Costs Through Tariffs (Actually or Virtually16) Paid by Users"
3.3 The EPEC Guidance Note
3.4 Normal Operating Conditions and Operating Risk Versus Other Contract Risks
3.5 Operating Risk: Between the Concessions Directive and Eurostat Principles
3.6 Brief Notes on Procedural Aspects
Chapter 4: PPP Contracts and Features
4.1 Introduction
4.2 User Fee-Based PPP
4.3 Availability-based PPP
4.4 Build, Lease, and Transfer
4.5 How to Link PPP Payments to Inflation
4.6 Modifications and Re-negotiation of PPP Contracts: A Legal Perspective
References
Chapter 5: Project Risks and Optimal Allocation
5.1 Risks Classification
5.2 Estimating the Cost of Risks
5.3 PPP Accounting in the European Union
Appendix
Chapter 6: From Traditional to Outcome-based Public-Private Partnerships: Social Impact Bonds
6.1 The Rise of SIBs
6.2 SIBs' Features Emerging from International Experiences
6.3 Some Critical Reflections on SIBs
6.4 Can SIBs' Experience and Philosophy be Applied to Traditional PPP Contracts?
References
Chapter 7: Principles of Capital Budgeting for Infrastructure Financing
7.1 The Aim of Capital Budgeting for Infrastructure Financing
7.2 Capital Budgeting Tools for Investment Appraisal
7.2.1 Pro-forma Financial Plan
7.2.1.1 Cash Flow Calculation
7.2.2 Profitability Metrics: NPV, IRR, and the Appropriate Discount Rates
7.2.2.1 The Time Distribution and Value of Cash Flows
7.2.2.2 NPV
7.2.2.3 IRR
7.2.2.4 The Appropriate Discount Rates
7.2.3 Cover Ratios: DSCR
Preface
Contents
About the Authors
List of Figures
List of Boxes
List of Tables
Chapter 1: Public-Private Partnerships for Infrastructure and Service Delivery: An Introduction
1.1 Public-Private Collaborations in General: A Comprehensive Framework
1.2 PPP: Main Features and Applications
1.3 Policy Goals Beyond PPP and the Challenges to Achieve Them
1.4 From Traditional to Strategic Procurement: Lessons from Covid-19 to Create a Shared Culture to Foster Partnership Between Public and Private Sectors
Bibliography
Chapter 2: Private Investments for Infrastructure
2.1 Investing in Infrastructure
2.2 Blended Finance: A Meso-Level Partnership to Attract Investors (also) in Infrastructure
2.3 Specific Policy Measures to Attract Investors in PPP Transactions
References
Chapter 3: PPP Legal Framework
3.1 The Development of an EU Legal Framework on PPP
3.2 Court Case Law on Concessions and the Concessions Directive: No More Ambiguities and False Myths
3.2.1 The First Myth: "Operating Risk Must be Quantified So As to Reach a Certain Minimum Amount."
3.2.2 The Second Myth: "Operating Risk may Only be Based on Demand"
3.2.3 The Third Myth: "Concessions are Based on a Three-Party Relationship, Whereby the Concessionaire Recoups its Investments and Costs Through Tariffs (Actually or Virtually16) Paid by Users"
3.3 The EPEC Guidance Note
3.4 Normal Operating Conditions and Operating Risk Versus Other Contract Risks
3.5 Operating Risk: Between the Concessions Directive and Eurostat Principles
3.6 Brief Notes on Procedural Aspects
Chapter 4: PPP Contracts and Features
4.1 Introduction
4.2 User Fee-Based PPP
4.3 Availability-based PPP
4.4 Build, Lease, and Transfer
4.5 How to Link PPP Payments to Inflation
4.6 Modifications and Re-negotiation of PPP Contracts: A Legal Perspective
References
Chapter 5: Project Risks and Optimal Allocation
5.1 Risks Classification
5.2 Estimating the Cost of Risks
5.3 PPP Accounting in the European Union
Appendix
Chapter 6: From Traditional to Outcome-based Public-Private Partnerships: Social Impact Bonds
6.1 The Rise of SIBs
6.2 SIBs' Features Emerging from International Experiences
6.3 Some Critical Reflections on SIBs
6.4 Can SIBs' Experience and Philosophy be Applied to Traditional PPP Contracts?
References
Chapter 7: Principles of Capital Budgeting for Infrastructure Financing
7.1 The Aim of Capital Budgeting for Infrastructure Financing
7.2 Capital Budgeting Tools for Investment Appraisal
7.2.1 Pro-forma Financial Plan
7.2.1.1 Cash Flow Calculation
7.2.2 Profitability Metrics: NPV, IRR, and the Appropriate Discount Rates
7.2.2.1 The Time Distribution and Value of Cash Flows
7.2.2.2 NPV
7.2.2.3 IRR
7.2.2.4 The Appropriate Discount Rates
7.2.3 Cover Ratios: DSCR