Page 19 - Inside K&A - March 2019
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feedstock supplier being able The International Project development banks
to agree fixed utilities costs Finance Association (IPFA), of and other international
in advance. This has made which I am one of the Middle organisations to enable
the region one of the most East council members, works sustainable development of
competitive globally in the to broaden understanding infrastructure projects. The
procurement of utilities. We of project finance, PPPs, Global Infrastructure Hub, for
are, however, starting to see infrastructure and energy. It example, has an MoU with the
some movement outside of is not alone in offering this Islamic Development Bank,
power and water projects. support, but compared to while in late 2017 the European
The expectation is that 2019 elsewhere in the world, this Bank for Reconstruction
will see other sectors shining region could have more. For & Development (EBRD)
in the PPP spotlight with instance, the recently launched announced it had partnered
large projects in transport Africa Infrastructure Fellowship with the City of Cairo to
like Jeddah’s Obhur Creek Program (AIFP) is already promote the development of
Bridge, in social infrastructure doing great work in Africa a PPP programme to support
including Saudi Aramco to help African governments infrastructure development
housing programme and build capacity in public across the country, and last
Tatweer Building Company’s infrastructure procurement. November the International
Schools PPP programme finally The same can be said for the Finance Corporation (IFC)
becoming a procurement Asia Leaders Programme launched the first independent
reality across Saudi Arabia, the in Infrastructure Excellence institute of directors in Iraq
biggest hope for a higher flow (ALPINE) run by the as part of efforts to promote
of infrastructure deals in Singapore Management corporate governance, boost
the region. University and supported business transparency, and
by the Singapore encourage private investment
“THE EXPECTATION Economic Development in the country.
IS THAT 2019 WILL Board (EDB). So, as Bob Dylan wrote, ‘The
SEE OTHER SECTORS Encouragingly, there Times They Are A Changin’,
OUTSIDE OF is an appetite globally and although it might not be as
to see an ecosystem
fast as some would like, steps
POWER AND WATER emerge in the Middle are being taken to ensure the
SHINING IN THE PPP East that fosters links Middle East is well equipped
SPOTLIGHT.” with governments, for more partnerships between
the public and private sectors.
the private sector,
multilateral
