Mediterranean Infrastructure Challenges: The Potential of Public-Private Partnerships
- Date: 30 May 2011
- Sheraton Casablanca Hotel & Towers
The EIB, in collaboration with the Ministry of Economy and Finance of Morocco and the Association of the Mediterranean Chambers of Commerce and Industry (ASCAME), hosted the 9th FEMIP Conference on Monday 30th of May in Casablanca. This high-level event was honoured by the presence of Salah Eddine Mezouar, Moroccan Minister of Economy and Finance, Jelloul Ayed, Tunisian Minister of Finance, Philippe de Fontaine Vive Curtaz, Vice-President of the EIB, Lino Cardarelli, Senior Deputy Secretary General of the Secretariat of the Union for the Mediterranean, and Murat Yalçintas, President of ASCAME.
The conference presented the results of a regional study financed under the FEMIP Trust Fund on “the legal and financial framework of PPP’s in the Mediterranean partner countries". Throughout the sessions, the conference also addressed three critical areas for PPP development namely,
- Success stories, lessons learnt and challenges for PPP’s projects in the region including the impact of the recent changes on PPP operations.
- The legal framework in PPP projects: action points to ensure the success of PPP’s, applicable laws in PPP contracts, drafting of contracts to efficiently allocate risks among partners, the role of international arbitration in resolving contractual disputes.
- Enhance PPP attractiveness, increase support from international financial institutions so as to strengthen funding from commercial banks, ensure efficient payment mechanisms tailored to the type of projects, provide with adequate security and guarantees in project finance investments.
Since its creation in 2002, FEMIP has worked with the Mediterranean partner countries to improve its lending policies guidelines trough constructive discussions on economic, financial and sectoral topics which include the FEMIP Ministerial Meeting, the FEMIP Committee and the FEMIP Conferences.
FEMIP support to PPP’s was underlined by participants in the 7th FEMIP Ministerial Meeting in Cyprus in May 2007 and was further discussed at the FEMIP Committee meeting in November 2007. With regards to the requests expressed by Mediterranean partner countries to provide an insight on this issue, the 15 donors of the FEMIP Trust Fund approved the support of a PPP study for the Mediterranean.
The study aimed to examine the following: give an in-depth overview of the financial, regulatory and institutional frameworks affecting the implementation of PPP’s in the region. Compare PPP experiences within the FEMIP countries and other countries namely, France, England, Mexico, and Poland where PPP are more spread; elaborate an assessment methodology with benchmarks for FEMIP countries and provide recommendations aimed at removing significant obstacles and strengthening the legal and financial framework of FEMIP Countries.
In preparation of this conference, the EIB organised a workshop entitled “Public-Private Partnership (PPP) Prospects in the Mediterranean Region” at the Organisation for Economic Cooperation and Development (OECD) Conference Centre in Paris on 10-11 February 2011.