Caribbean countries are committed toachieving significant economic and social development toraise the living standards and welfare of citizens. Toachieve rapid development, to support most neededsustainable high growth rates and poverty reduction, it isnecessary to make substantial and immediate investments ineconomic and social infrastructure. Efficient, costcompetitive facilities and services in transport andcommunications, energy, water, sanitation, health andeducation are essential to drive and support thisdevelopment effort and to reduce poverty. Yet, fiscal space,the resources available to the public sector for neededinfrastructure investments are very limited. Many Caribbeancountries have high levels of public debt as a percentage ofgross domestic product (GDP) and high fiscal deficits. Undertraditional public procurement, government obtains a publicinfrastructure service such as electricity, water supply,schools and hospitals, by engaging a contractor to constructa facility which the Government then owns, manages andoperates. This form of public procurement will continue, butas a result of the limited fiscal space, publicinfrastructure services development will also be soughtthrough public private partnership (PPP) arrangements whichwill mean a broader role for the private sector in providinginfrastructure facilities and services. The Governments ofmost Caribbean countries appear fully committed to promotingeconomic activities and enhancing the well-being of itscitizens through more active participation of the privatesector in improving the infrastructure of the nation. ThoseGovernments believe that improving infrastructure throughPPP arrangements will harness the development of the privatesector to contribute to the growth of GDP and povertyreduction over the life of their respective strategicdevelopment plan and current administrations.
PDF
download
878987797
028-85220240
