The fantasy world of private finance for transport via public private partnerships

Jean SHAOUL, Anne STAFFORD and Pam STAPLETON
Manchester Business School,University of Manchester,
United Kingdom
September 2012

Discussion Paper No. 2012-6
Prepared for the Roundtable on: Public Private Partnerships for Funding Transport Infrastructure: Sources of Funding, Managing Risk and Optimism Bias
(27-28 September 2012)
International Transport Forum

A key message of this paper is that it is more costly for the public sector to use the private sector as financial intermediaries. This is due in part to the higher cost of commercial over public debt and the cost of the profit margin of both the private partner and its extensive supply chain. But there are also the not inconsiderable legal and financial advisors’ fees to each of the numerous parties to the transaction to structure and negotiate it

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Diseño conceptual del sistema estratégico de transporte público de Villavicencio: Resultado de análisis de alternativas

Unión temporal Steer Davies Gleave - AKIRIS
Preparado para DNP
Junio 2009

En este documento se presenta una propuesta técnica y financiera para el desarrollo del Estudio de “DISEÑO CONCEPTUAL DEL SISTEMA ESTRATÉGICO DE TRANSPORTE PÚBLICO DE VILLAVICENCIO” la cual se ha desarrollado a partir de los análisis realizados por el consultor y la incorporación de los comentarios por parte del DNP y de la administración Municipal.

1.2 Este documento constituye el Informe 4: Resultado de Análisis de Alternativas del estudio del “DISEÑO CONCEPTUAL DEL SISTEMA ESTRATÉGICO DE TRANSPORTE PÚBLICO DE VILLAVICENCIO”. De acuerdo con las obligaciones contractuales este informe debe incluir:

• El resultado final de las propuestas del plan de acción para la transición del sistema y el análisis de costos y financiero del proyecto. En especial deberán indicarse los usos y fuentes de todo el sistema así como la viabilidad en el tiempo de las posibles fuentes. En el informe deberá existir coherencia entre el análisis adelantado en el estudio de Ivarsson y los nuevos planteamientos.
• El diseño de la reestructuración del servicio y las necesidades de par y paso para la adopción del nuevo sistema.

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Además:

Plan de movilidad

EIB Transport Lending Policy

European Investment Bank
December 2011

The EIB adopted a revised transport lending policy on 13 December 2011. The revised transport lending policy sets the guiding principles and selection criteria that will reinforce the Bank's contribution to this sector, in particular taking into account climate change concerns.

The transport lending policy was revised following a formal public consultation that was launched in 2010.

The new transport lending policy fully takes into account the European Commission White Paper for transport "Roadmap to a Single European Transport Area –Towards a competitive and resource efficient transport system” that was adopted on 28 March 2011.

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Airport Economics in Latin America and the Caribbean: Benchmarking, regulation and pricing

World Bank
Directions in development - Infrastructure
Tomás Serebrisky
January 2012

Traditionally, air transport infrastructure in Latin America and the Caribbean (LAC) was exclusively under government ownership and management. Starting in the late 1990s, several Latin American countries implemented innovative public-private partnerships (PPP) that transferred the financing and management of air transport sector infrastructure to the private sector. This book presents the findings of a first-ever, comprehensive study of how LAC region airports have evolved during this notable period of transition in airport ownership. It is an unbiased, positive analysis of what happened, rather than a normative analysis of what should be done to reform the airport sector or to attract private participation. It takes the first step in response to the need for more conclusive information about the influence of airport ownership on economic performance. The book is centered around the study of three dimensions of performance: productive efficiency, institutional set up for the governance of the sector, and financing of airport PPPs. Using rigorous analytical tools, this book answer a series of key questions to evaluate the introduction of private sector participation in the Latin American airport sector: Are LAC airports technically efficient? How has efficiency evolved in the last decade? Are privately-run airports more efficient than state-operated airports? How do independent regulators compare with government agencies in accountability, transparency, and autonomy? How has the level and structure of aeronautical tariffs changed in recent years? The main audience of this book are air transport practitioners, transport regulators, decisionmakers in transport ministries, and PPP units and academics.

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Diálogo regional de políticas de transporte urbano

BID
CODATU
Diciembre 2005

• Políticas y estrategias en transporte urbano
• Comparación en el desempeño de distintos tipos de sistemas de transporte público
• Organización institucional para la gestión del tránsito y el transporte público
• Gestión de concesiones de transporte público
• Financiamiento del transporte público
• Política nacional de transporte
• El transporte urbano y su entorno
• Grupos de trabajo nacionales

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Repowering Transport 2011

World Economic Forum
April 2011

Global transportation and fossil fuels are inextricably linked. More than 60% of the 87 million barrels of oil consumed daily powers the world’s transportation system and liquid fossil fuels account for more than 96% of the sector’s energy supply.

The Repowering Transport project provides a high-level platform for executives from the World Economic Forum’s Industry Partners in the mobility (automotive, aviation, and logistics), energy (oil and gas, utilities, alternatives), chemicals, and investors industries, and select Global Growth Companies.The project explores technology-driven opportunities to drive short- to medium-term energy diversification and efficiency in the transportation sector. It provides a framework of key enablers – partnerships, policies, and financing mechanisms – that are critical to accelerate the development and deployment of these technologies.

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John Moavenzadeh, Senior Director and Head of Mobility Industries

La provisión de infraestructura en América Latina: Tendencias, inversiones y financiamiento

Luis Lucioni
CEPAL
Serie Macroeconomía del Desarrollo
Enero 2009

De todas las formas de inversión, la inversión en infraestructura reviste particular interés puesto que condiciona y se adelanta en el tiempo a las inversiones privadas en otros sectores. Los servicios de infraestructura tales como la energía eléctrica, los transportes, las telecomunicaciones, el abastecimiento de agua y el saneamiento son fundamentales para las
actividades de las unidades familiares y la producción económica. Proporcionar servicios de infraestructura que satisfagan las demandas de las empresas y de las familias es una de las tareas más importantes de desarrollo económico y es una responsabilidad de los gobiernos que esto se pueda llevar a cabo.

Desde diferentes ámbitos, tanto académicos, políticos como de expertos en el tema, se coincide en que actualmente la inversión en infraestructura en América Latina es baja en comparación con otros países en desarrollo. Se sostiene que el dinamismo de la economía y del comercio exterior que verifica la región desde el 2002 ha puesto en evidencia las deficiencias de la dotación de infraestructura de la región.

Al respecto, una de las conclusiones de este trabajo es que el producto de la región sería actualmente tan intensivo en infraestructura como lo era en los años ochenta. Con variaciones, en función del sector que se trate, los latinoamericanos dispondrían actualmente, con excepción en el sector telecomunicaciones, una dotación de infraestructura para el transporte y la generación de energía eléctrica similar a la existente en esos años. Este escenario, si es per se preocupante, se agrava si se tiene en cuenta la mejora que está experimentado la región en su economía y muy particularmente en su comercio. En efecto, para que estas mejoras se mantengan y se profundicen se requiere, entre otras cosas, una dotación de infraestructura que las acompañe y las incentive. En tal sentido, las deficiencias en materia de infraestructura aparecerían hoy como uno de los principales condicionantes para el crecimiento sostenido en América Latina.

Los indicadores elaborados que sostienen esta conclusión indican que la región inició el nuevo milenio transitando históricamente niveles mínimos de inversión en infraestructura. Esta situación no pasó desapercibida en los países de la región, los que bajo distintos argumentos propusieron un perfeccionamiento de los instrumentos de control fiscal y presupuestario que dieran un tratamiento diferente a las erogaciones de capital de manera de incentivar las inversiones. Estos incentivos llegaron sin necesidad de recurrir a esos perfeccionamientos sino a través de la mejor manera posible: el crecimiento económico y el consiguiente aumento de los recursos disponibles. Como consecuencia de esto la región ha comenzado a aumentar sus niveles de inversión pública, pero en niveles que por ahora solo permiten equiparar o superar ligeramente registros de mediados de los 90, los que ya eran muy modestos. El sector privado por su parte también estaría siguiendo esta trayectoria, pero solo en determinados proyectos y países. De hecho, los países del Sudeste Asiático, por lo menos hasta fines de 2006, han desplazado a América Latina como destino principal de las inversiones privadas en infraestructura. Agotado el proceso de privatizaciones de los años noventa, las asociaciones públicas privadas son actualmente un mecanismo de mayor importancia que disponen los gobiernos y el sector privado para crear nueva infraestructura.

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A guide to transportation funding options: Phase 2 - Final report

University Transportation Center for Mobility
October 2009

This project is a continuation of a project that provided a one-stop shop website, A Guide to Transportation Funding Options (http://utcm.tamu.edu/tfo), detailing transportation funding options and their applicability in an easy-to-use format. The first phase of this project compiled information on transportation funding options for highway funding.

This subsequent phase provided similar information for other modes of transportation including transit, rail, aviation, and ports. The information is presented in a format that is user friendly and easily accessible via the Internet for anyone interested in project financing methods

Access the document

Go to the website

ADB's Sustainable Transport Initiative operational plan

ADB
2010

Strategy 2020 sets the long-term strategic framework of the Asian Development Bank (ADB) for 2008-2020. During this period, ADB lending and technical assistance operations in Asia and the Pacific will emphasize inclusive economic growth, environmentally sustainable growth, and regional integration. The Sustainable Transport Initiative Operational Plan provides details of how ADB will update its operations in the transport sector in line with Strategy 2020. ADB will focus on creating transport systems that are accessible, safe, affordable, and environment- friendly.

Contents:

Introduction and Background
Conceptual Framework for Sustainable Transport
Sustainable Transport Needs and Challenges
Future Sustainable Transport Operations
Implementation of the Operational Plan
Appendix 1: Highlights from Strategy 2020
Appendix 2: Some Considerations for Making Road Projects More Sustainable

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Social Change and Urban Transport

Sustainable urban transport technical document # 2
Marie Thynell
GTZ
SUTP
October 2009

Despite the growing awareness of the need of sustainability in transport planning, efforts to work on this topic have focused on the environmental and economic aspects, but there have been few projects and initiatives investigating and working upon social aspects of transport, the third of the main pillars of sustainability.

GTZ SUTP has published its Technical Document # 2 titled "Social Change and urban transport" which describes how transport in its social dimension has many intricacies that should be taken into account when analysing existing policies and developing new ones. It provides a description of the main issues to be tackled, the main stakeholders in the local and International/ Multilateral level and it provides some indication as to how to implement social change in transport and gives a brief overview of social impact assessment as an aid in such a process.

The document can be downloaded from here
5.50 MB by registered users. Unregistered users can register here.

Or from Ecoregion: PDF

Chile - Santiago Urban Transport Technical Assistance Project : restructuring

World Bank
September 2009

This project paper introduces changes in the Chile, Santiago Urban Transport Technical Assistance Project and makes corresponding amendments to the project's legal documents. The changes are needed in order to better align Bank assistance with the operational and financial challenges of the new public transport system in Santiago. The expected outcomes from the restructured project will mainly consist of improvements in the quality and/or efficiency of public transport in Santiago as well as to Transantiago's financial/fare management system. The project development objective as stated in the loan agreement, namely to 'support the Borrower in achieving an efficient and sustainable urban transport system for Metropolitan Santiago', will be on track to be achieved.

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Maritime Transport and the Climate Change Challenge

United Nations Conference on Trade and Development
16–18 February 2009, Geneva
Multi-Year Expert Meeting on Transport and Trade Facilitation:
Maritime Transport and the Climate Change Challenge
UNCTAD
December 2009

To support global efforts and to help "deliver as one" under the United Nations-wide system, the meeting provides a platform for informal discussions on how best to address the climate change challenge from a maritime transport perspective, while bearing in mind issues of interest to developing countries.

Key issues to be discussed include:

• Greenhouse gas emissions from international shipping;
• Implications of climate change for shipping and transport infrastructure: the need for adaptation;
• Mitigation and adaptation options for ships and ports;
• The current state of play in terms of the relevant regulatory and institutional framework; and
• Cross-cutting issues, such as financing and investment, technology and energy security.

Event site

Summary of proceedings

Report of the meeting

Papers and presentations

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Túnel de la línea - Colombia (Contratación de multilaterales)

Documento Conpes 3599
Consejo Nacional de Política Económica y Social
Departamento Nacional de Planeación
República de Colombia
Julio 2009

Concepto favorable a la Nación para contratar empréstitos externos con la Banca Multilateral y Organismos Multilaterales hasta por la suma de US$ 245 millones, o su equivalente en otras monedas, para la financiación de la etapa I del proyecto cruce de la cordillera central - Túnel del II Centenario (Túnel de la línea)

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High Speed Passenger Rail: Effectively Using Recovery Act Funds for High Speed Rail Projects

U.S. Government Accountability Office
June 2009

Testimony before the Subcommittee on Surface Transportation and Merchant Marine Infrastructure, Safety, and Security, Committee on Commerce, Science and Transportation, U.S. Senate

Statement of Susan A. Fleming, Director Physical Infrastructure Issues

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Safe, Clean, and Affordable Transport for Development: The World Bank Group s Transport Business Strategy for 2008-2012

World Bank
2008

The Bank Group’s transport business strategy articulates how transport and development goals come together.

Safe acknowledges the prominence of health outcomes within the Millennium Development Goals; it implies safety for transport users, for transport workers, and for the wider community.

Clean reflects the contribution that transport can make to the environmental aims of the Millennium Development Goals, and the need to address its impact on climate change.

Affordable acknowledges that physical supply of infrastructure is not enough. Efficient freight infrastructure, translated through well-functioning markets into affordable transport and logistics services, is critical for trade. Similarly, efficient and affordable transport underpins personal accessibility and mobility in both urban and rural areas.

Finally, transport for development asserts that, while transport can have many purposes, the Bank Group’s focus must be on its contribution to economic development.

Extracto Latinoamérica en español

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Critical Issues in Transportation: 2009 Update

Transportation Research Board
June 2009



TRB’s Executive Committee periodically identifies a set of critical issues in transportation to focus attention on their likely impact on the nation’s economy and quality of life. The discussion of the critical issues identified in this document is intended to facilitate debate and to encourage research leading to their resolution.

Previous editions of Critical Issues in Transportation have highlighted many of the issues that threaten the performance of the nation’s transportation system. In recent years, the Executive Committee has added the need to respond to terrorism and natural disasters, highlighting how transportation has become ever more linked to broader issues in society and in the economy.

The 2009 Critical Issues update elevates the importance of energy and environmental issues to reflect the prominence that these topics have gained in national debates about energy security and climate change. Greater emphasis also is given to the issues of the condition and financing of infrastructure, to help policy makers prepare for the reauthorization of federal surface transportation programs that expire in 2009.

The urgency of addressing the critical issues has never been greater. The Executive Committee hopes that readers of this list will become aware of and concerned about these issues, and will join in addressing the problems in transportation so that society and the economy can reap the many benefits.

To order free copies of Critical Issues in Transportation, please contact Russell Houston, TRB's Senior Communications Officer, at rhouston@nas.edu or 202-334-3252. In your correspondence, please include the number of copies of the publication you need, the audience you are going to be sharing them with, and your full mailing address.

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AASHTO Center for Excellence in Project Finance

AASHTO Center for Excellence in Project Finance
June 2009

The AASHTO Center for Excellence in Project Finance has launched a new website to help state departments of transportation, metropolitan planning organizations, and other transportation providers find new potential sources of revenue.
"We're giving state departments of transportation a valuable new tool to meet the financial challenges of both today and tomorrow," said John Horsley, executive director of the American Association of State Highway and Transportation Officials (AASHTO).

The website www.transportation-finance.org is designed to identify a comprehensive set of funding and financing mechanisms that can be used to generate investment for critical transportation projects.

Established by congressional legislation in the 2005, the AASHTO Center for Excellence in Project Finance provides transportation funding and financing tools, research services, technical assistance, and professional education programs in conjunction with the Wharton School at the University of Pennsylvania. Its mission is to work in partnership with the US DOT to develop state-of-the-art finance methods for transportation project advancement and funding and to provide project oversight tools and new professional development programs.
For more information about the new website please contact Joung Lee, the Center's Deputy Director, at 202-624-5818 or jlee AT aashto.org.

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World Bank/PPIAF Toolkit for PPP in Roads and Highways

PPIAF
June 2009

The Toolkit's main purpose is to assist transport sector policy makers in low- and middle-income countries in implementing procedures to promote private sector participation and financing in the development and maintenance of their road and highway networks.

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Peru Safe and Sustainable Transport SWAp

World Bank

June 2009

The proposed project development objective is to increase the quality of national road corridors that are essential to Peru's competitiveness and to promote safer transport conditions, as part of the Government's stimulus package designed in response to the global crisis. Specific objectives include: (i) improving the quality of selected national roads, through a scaling up of effective maintenance and the use of low-cost paving technologies; (ii) generating employment opportunities, particularly for the rural poor; (iii) supporting the reduction of road traffic fatalities and injuries (and resulting economic losses), on selected national roads, through the development of safe corridors; and (iv) strengthening MTC's institutional framework with a view to improve the effectiveness of the Government's stimulus package.

Project Information Document

Integrated safeguards data sheet

Appraisal stage

Rest of the documents

Keeping the wheels from falling off: Why England needs a new urban transport investment fund

Adam Marshall
Centre for cities
April 2009



With each passing week, the public finances look more and more precarious. For England’s cities, the next decade is likely to be marked by a wide-ranging cutback in Government capital investment, with transport and other infrastructure projects pared back significantly. Despite transport’s role as an enabler of economic growth, it remains low on Ministers’ priority lists – well behind education, health and defence.

Yet public transport infrastructure needs – especially in England’s regional cities – remain significant. A decade of increased spending has not closed the ‘infrastructure gap’faced by cities like Leeds, Manchester, Birmingham, Cambridge, Reading or Bristol. So if cities are to lead the economic recovery over the longer term, new sources of transport investment will be urgently required.

This Policy Solutions note sets out a blueprint for a new Urban Transport Investment Fund. The Fund is not a new Government spending programme – but a way to simultaneously deliver high-quality public transport infrastructure and returns for central government, local authorities and private sector investors. Over the next year, we urge all major political parties to work with cities to build up detailed plans to launch a city-focused transport Fund, following the 2010 General Election.

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