{
  "title": "The Future of PPPs in the Western Balkans",
  "publication": "IMF Working Papers, February 10, 2023",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2023/02/10/the-future-of-ppps-in-the-western-balkans-529696",
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  "summary": "Public-Private Partnerships (PPPs) are increasingly an important vehicle for several Western Balkan countries to increase investment to reduce their infrastructure gaps.",
  "sections": [
    {
      "heading": "Overview",
      "content": "- Public-Private Partnerships (PPPs) are increasingly an important vehicle for several Western Balkan countries to increase investment to reduce their infrastructure gaps.\n- Well-designed and implemented PPPs can deliver benefits, but they carry potential for large fiscal risks and increased costs if not managed well.\n- Countries with successful PPP programs typically have a clear and well-designed PPP governance framework that covers all stages of the PPP life cycle.\n- Western Balkan countries need to address gaps in their PPP governance frameworks to fully reap the potential benefits from PPPs."
    },
    {
      "heading": "Key findings",
      "content": "- PPPs are an important mechanism to boost investment and close infrastructure gaps in the Western Balkans.\n- Poorly managed PPPs can generate large fiscal risks and increase overall costs.\n- Success in PPP programs is associated with a clear, well-designed governance framework spanning the entire PPP life cycle."
    },
    {
      "heading": "Governance gaps and fiscal risks",
      "content": "- Identified problem: gaps in PPP governance frameworks across Western Balkan countries.\n- Consequence: without addressing these gaps, PPPs may lead to elevated fiscal risks and higher costs rather than the intended investment and efficiency gains.\n- Effective PPP governance requires coverage of all stages of the PPP life cycle, including design, procurement, contract management, and fiscal risk oversight."
    },
    {
      "heading": "Policy recommendations (implied by findings)",
      "content": "- Strengthen PPP governance frameworks to cover all stages of the PPP life cycle.\n- Improve public financial management (PFM) practices as they relate to PPPs and public investment spending.\n- Address PPP legislation and procurement shortcomings to mitigate fiscal risks of public-private partnerships."
    },
    {
      "heading": "Subject tags and keywords (as presented)",
      "content": "- Subject: Expenditure, Fiscal risks, PPP legislation, Public financial management (PFM), Public investment spending, Risks of public-private partnership\n- Keywords: Europe, Fiscal risks, future of PPP, Global, governance framework, Infrastructure, PPP legislation, PPP life cycle, PPP procurement, PPP project, Public investment spending, Public-private partnerships, Risks of public-private partnership, Western Balkans\n\nJan Kees Martijn, Yan M Sun, William Lindquist, Yen N Mooi, Ezgi O. Ozturk, Hoda Selim, Armine Khachatryan. \"The Future of PPPs in the Western Balkans\", IMF Working Papers 2023, 031 (2023), February 10, 2023. DOI: https://doi.org/10.5089/9798400234439.001\n\n---\n\n Content in this bundle\n\n- Working Paper\n  - Working Paper (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Working Paper (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2023/02/10/the-future-of-ppps-in-the-western-balkans-529696"
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    "Authors: Jan Kees Martijn, Yan M Sun, William Lindquist, Yen N Mooi, Ezgi O. Ozturk, Hoda Selim, Armine Khachatryan",
    "Published: February 10, 2023",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9798400234439.001",
    "Public-Private Partnerships (PPPs) are increasingly an important vehicle for several Western Balkan countries to increase investment to reduce their infrastructure gaps.",
    "Well-designed and implemented PPPs can deliver benefits, but they carry potential for large fiscal risks and increased costs if not managed well.",
    "Countries with successful PPP programs typically have a clear and well-designed PPP governance framework that covers all stages of the PPP life cycle.",
    "Western Balkan countries need to address gaps in their PPP governance frameworks to fully reap the potential benefits from PPPs.",
    "PPPs are an important mechanism to boost investment and close infrastructure gaps in the Western Balkans.",
    "Poorly managed PPPs can generate large fiscal risks and increase overall costs.",
    "Success in PPP programs is associated with a clear, well-designed governance framework spanning the entire PPP life cycle.",
    "Identified problem: gaps in PPP governance frameworks across Western Balkan countries.",
    "Consequence: without addressing these gaps, PPPs may lead to elevated fiscal risks and higher costs rather than the intended investment and efficiency gains.",
    "Effective PPP governance requires coverage of all stages of the PPP life cycle, including design, procurement, contract management, and fiscal risk oversight.",
    "Strengthen PPP governance frameworks to cover all stages of the PPP life cycle.",
    "Improve public financial management (PFM) practices as they relate to PPPs and public investment spending.",
    "Address PPP legislation and procurement shortcomings to mitigate fiscal risks of public-private partnerships.",
    "Subject: Expenditure, Fiscal risks, PPP legislation, Public financial management (PFM), Public investment spending, Risks of public-private partnership",
    "Keywords: Europe, Fiscal risks, future of PPP, Global, governance framework, Infrastructure, PPP legislation, PPP life cycle, PPP procurement, PPP project, Public investment spending, Public-private partnerships, Risks of public-private partnership, Western Balkans",
    "**Working Paper**"
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