Public private partnership in the transport infrastructure

Abstract

Because of the inadequacy of the national budgets to finance the infrastructure needs of their respective nations, many governments are undertaking reforms aimed at creating Public Private Partnerships (PPP) for delivering projects such as transport infrastructure. The analysis of the experience of the Korean government in PPPs for transport projects shows that the provision of a regulatory environment, incentive mechanism and institutional capacity is important for PPPs to effectively compliment government efforts in financing transport infrastructure. The paper concludes that Korean PPPs are playing a pivotal role in transport infrastructure financing. It also identifies the strengths of the Korean PPP experience in areas of policy, and regulatory and institutional reforms which can be applicable to Kyrgyzstan context which is still in its infancy of PPP development.