Against the backdrop of a projected 7.7% contraction in its economy this year, the Irish Government has reaffirmed its commitment to deliver €31.4 billion of infrastructure projects between now and 2013 as part of its strategy for boosting the economy. In order to do this, it is proposing to make greater use of the PPP model in an effort to reduce the State's upfront capital commitment.
However, while there are still large amounts of equity capital available for PPP projects, the credit crisis has resulted in a temporary reduction in available debt finance, which has encouraged national governments across the world to come up with innovative solutions to bridge the funding gap until the markets recover.
In Ireland, the Government is hoping that a new pension fund bond plan will create €3 billion of debt capital for PPP projects to complement debt financing provided by banks and the capital markets. The thinking behind this idea is that the long-term cash flows of PPP projects would fit well with the long-term liabilities of pension funds, while the government covenant is obviously attractive.
This year's Irish Public Private Partnerships Policy Forum - the fifth time this highly successful one day annual event has been held - will explore possible solutions to the PPP funding gap in Ireland, and will look abroad to see what other EU countries are doing to address the issue.
It will also provide a timely update on other policy developments and best practice, and feature detailed overviews and case studies in the rail, waste, education, healthcare, roads and civic building sectors.
£595
$873
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