What's new

procurement gavelNew EPEC report "PPPs and State Aid"

This report has been written to help PPP practitioners understand more about how State aid policy interacts with the procurement and delivery of PPPs. The intention of the report is to be as straightforward as possible for PPP practitioners, cutting out some of the wider State aid framework, which is often of a technical legal nature, in order to focus on the key topics of relevance to PPPs. The report is available here.

procurement gavelNew EPEC report "PPPs and Procurement: Impact of the new EU Directives"

Two new Directives of relevance to PPPs in the area of procurement (specifically, public procurement and concessions) should now be available for Member States to use in procuring their projects. This report, written in collaboration with Herbert Smith Freehills, seeks to summarise the key impacts of these Directives on PPPs in the EU and, in particular, how the two Directives interrelate for those seeking to choose the most effective path for their PPPs. The report is available here.

dg moveInvesting in Transport in Ljubljana: 21 and 22 April 2016.

European Commissioner for Transport, Ms Violeta Bulc, invited invite high-level representatives involved in the planning and financing of transport infrastructure to a Regional Conference on the Investment Plan for Europe. Amongst the EIB speakers were Guy Chetrit (EPEC) and Neri Di Volo (JASPERS). The videos of their respective interventions are available here and here.

Blending UE fundsNew EPEC report “Blending EU Structural and Investment Funds and PPPs in the 2014-2020 Programming Period"

Combining European Structural and Investment Funds (ESI Funds) with private financing in a PPP structure is often referred to as ‘blending’. Blending ESI Funds with private financing can help to ensure better value for money in the use of ESI Funds and improve affordability of PPP projects. The Common Provisions Regulation for ESI Funds for 2014-2020 provide significant improvements compared to previous regulations, including a specific chapter on PPPs. EPEC has developed this guidance note to update and improve general understanding of the practical implications and possibilities afforded by the current regulations for blending. The guidance is available here.

motivations_and_constraintsNew EPEC report "PPP Motivations and Challenges for the Public Sector: Why (not) and how"

Policy-makers and project procuring authorities make reference to a range of motivations to justify the use of PPPs. This report seeks to identify the key motivations that have been used in communicating the rationale to use PPPs. It also sets out the main challenges for the public sector in implementing PPPs.

The report is available here.

vfmNew EPEC report “Value for Money Assessment. Review of approaches and key concepts”

In many countries, Value for Money (VfM) assessment is used by public authorities as a decision-making tool to help compare project procurement options and support the resulting decisions. However, approaches to VfM assessment can differ, reflecting government policies, administrative processes and views on methodology. This new EPEC document, developed with Rebel consultancy, summarises and reviews the different VfM assessment approaches as well as the methodologies for risk analysis, discount rates and non-valued effects which play an important role in VfM assessment. You can find the report here.

PPP ProgrammeNew EPEC report “A Programme Approach to PPPs – Lessons from the European experience”

PPP programmes have been, and continue to be, used across Europe in a range of sectors.  A PPP programme uses tools and resources, such as standardised documents or a specialised team, to deliver PPP projects more effectively and efficiently than might be the case with delivering projects individually. This new EPEC document uses case studies from around the EU to demonstrate the benefits of the programming approach for PPPs. The report is available here.

EPEC Members 


Ministere De L'Economie, De L'Industrie Et De L'Emploi De La Republique Francaise

Bundesministerium Für Finanzen

Vlaams Kenniscentrum Pps And Cellule D'Informations Financieres

The Ministry Of Finance Of The Republic Of Bulgaria

The Agency For Ppp

The Planning Bureau Of The Republic Of Cyprus

The Ministry Of Finance Of The Czech Republic

The Competition Authority Previously The Danish Enterprise And Construction Authority

The Ministry Of Finance Of The Republic Of Finland

Bundesministerium Für Verkehr, Bau Und Stadtentwicklung And Finanzministerium Des Landes Nordrhein-Westfalen Der Minister

The Ministry Of Economy And Finance Of The Hellenic Republic

The Ministry Of National Development Of The Republic Of Hungary

The Ministry Of Finance Of The Republic Of Ireland

Unità Tecnica Finanza Di Progetto - Presidenza Del Consiglio Dei Ministri Della Repubblica Italiana

The Ministry Of Economy And Finance

The Ministry Of Economics Of The Republic Of Latvia

The Ministry Of Finance Of The Republic Of Lithuania

The Malta Investment Management Co Ltd

The Ministry Of Finance Of The Netherlands

The Ministry Of Economy Of The Republic Of Poland

Ministry Of Finance

The Ministry Of Public Finance Of Romania, Ppp Central Unit

Scottish Futures Trust

The Ministry Of Finance Of The Slovak Republic

The Ministry Of Finance Of The Republic Of Slovenia

Direccion General De Presupuestos Y Analisis Economico De La Comunidad De Madrid And Ministerio De Fomento And Departament De Territori I Sostenibilitat De La Generalitat De Catalunya

Prime Ministry Undersecretariat Of Treasury

Her Majesty’s Treasury

The Welsh Assembly Government

Ministry Of Finance Of Israel

The Government Of Montenegro

Ministry Of Economic Development, Trade And Entrepreneurship

Inspection Generale Des Finances

Ppp Commission

Partnership Kosovo

Strategic Investment Board Limited

France Spain United Kingdom Scotland Germany Portugal Belgium Wales Netherlands Denmark Italy Austria Czech Republic Slovak Republic Hungary Romania Bulgaria Geece Poland Lithuania Latvia Finland Ireland Croatia Turkey Slovenia Malta Cyprus Israel Montenegro Albania Luxembourg Serbia Kosovo Northern Ireland

Market Analysis

Total volumeEuropean PPP Market in 2015: 49 deals

49 transactions reached financial close for an aggregate value of EUR 15.6 billion. In value terms, the market decreased by 17% compared to 2014.

See sectorial breakdowns by value and by number of projects

Market Update 2015

Market Update 2014

See previous Market Updates



General EIB enquiries (including potential lending and project-specific enquiries)


EPEC specific enquiries


EPEC, European Investment Bank
98-100, boulevard Konrad Adenauer
L-2950, Luxembourg


In depth analysis

Termination ProvisionsTermination and Force Majeure Provisions in PPP Contracts

EPEC paper on “Termination and Force Majeure Provisions in PPP Contracts” is available here. This paper has been produced in collaboration with Allen & Overy LLP. Its aim is to provide contract design guidance to PPP procuring authorities and public decision-makers.

State GuarateesState Guarantees in PPPs

State Guarantees have been a feature of PPP programmes for many years. However, with the onset of the credit crisis in 2007, their use has become more prevalent and varied in nature. Based on the now widespread experience of EPEC members in this field, EPEC has produced a paper on this issue (also available in Italian). It is designed to help policy makers in evaluating whether State Guarantees are an appropriate tool for their PPP programme and, if so, by providing guidance on how best to implement and manage them.

Using EU funds in PPPsPortugal - PPP Unit and Related Institutional Framework

This report provides an overview of the PPP institutional set-up in Portugal. It places a particular emphasis on UTAP, the central government PPP unit. The report is available here.

Using EU funds in PPPsFinancing PPPs with Project Bonds

Bond financing can play a major role in bridging the financing gap for infrastructure investments. This report highlights the key characteristics of bond financing and identifies the main issues that authorities will typically face when PPPs are to be financed with bond instruments. The report is available here.

managing_ppps_during_their_contract life .JPGNew EPEC report “Managing PPPs during their Contract Life”

Sound management by public contracting authorities from signature until the end of the contract life is crucial to the success of PPPs over the long run. To do so, the typical “deal” focus needs to shift to a long-term “management” culture. New EPEC guidance on the matter will hopefully raise awareness and reinforce the ability of authorities to plan their own operational management strategy and execute it without missing out any important steps. You can find the report here.

Market updateNew EPEC report “Role and Use of Advisers in Preparing and Implementing PPP Projects”

For public procuring authorities, the expertise required to undertake PPP projects is both diverse and specific. This EPEC paper is designed to help public contracting authorities, especially less experienced ones, to understand what they can reasonably expect from their advisers and how they can obtain the best advice from them. You can find the report here.

eurostatNew EPEC report “Risk Distribution and Balance Sheet Treatment – Practical Guide”

This revised edition updates the Eurostat Practical Guide published in 2011 to reflect the main changes introduced to the statistical rules on PPPs and concessions, following the implementation of European System of Accounts 2010 (ESA10) in September 2014. It reflects the rules contained in the Eurostat Manual based on ESA10. The Guide is intended to give advice on the impact the risk distribution in a specific project has on government deficit and debt. It contains a checklist of issues designed to help authorities determine the possible statistical treatment of a PPP or concession project. The Guide is available here.

market updateNew EPEC report “Financing PPPs with Project Bonds in France”

Financing PPPs through project bonds may help to improve the Value for Money of projects by lowering the cost and lengthening the term of financing. However, the use of project bonds may be constrained by procurement hurdles or require procuring authorities to adapt their procurement practices. EPEC, in collaboration with Freshfields and MAPPP, has produced a paper which reviews the main obstacles to the use of project bonds in France and identifies potential solutions to overcome these. The paper, in French, is available here.

managing_pppsNew EPEC report “Establishing and Reforming PPP Units” 

Most European countries have established some form of centralised capability as a core part of their institutional framework to implement PPPs, usually in the form of a specialist PPP unit. EPEC has conducted reviews of institutional frameworks for 24 countries. The purpose of this report is to draw collectively from these reviews in order to identify trends and lessons learnt.  You can find the report here.

European Investment Bank

PPPs and European Investment Bank

The European Investment Bank is a major financier of European PPP projects. Details of all PPPs financed since 1990 are available here. The full project database of the Bank can be found on its website.

Western Balkans Initiative

PPP Institutional Strengthening in the Western Balkans

This initiative aims at bringing EPEC’s expertise to the Western Balkans region through the sharing of knowledge and experience. For more information, see here.

PPP Project Preparation Status Tool

PPP Project Preparation Status Tool

Developed by EPEC, the PPP Project Preparation Status Tool aims to assess the preparation status of a given PPP project by reference to a typical good-practice PPP project development process.
To use the Tool, please download the file on your computer, enable the use of macros and follow the detailed instructions provided within the Tool.

Click here to download the tool (English version)

EPEC events 

Discussing PPP-related topics

EPEC has been organising events involving the private sector, in order to discuss and address PPP-related topics. Further details and documents about specific events are available here.

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