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Kurt Kisto: Public Private Partnerships Can Add Sustainable Value to Caribbean Development

January 17, 2014 by Chris Barton 1 Comment


by Christopher Barton, EXR

Kurt Kisto, the IDB’s executive director for the Caribbean, delivered opening remarks at a recent Barbados conference on Caribbean Public/Private Partnerships (PPPs) for Sustainable Growth.

Kurt M.A. Kisto

Director Kisto’s remarks were later published as an op-ed in Trinidad’s Business Guardian.

Director Kisto’s main points were as follows:

  • “[T]he Canadian Council for Public Private Partnership, which defines PPPs as ‘A co-operative venture between the public and private sectors, built on the expertise of each partner; that best meets clearly defined public needs though the appropriate allocation of resources, risks, and rewards.’”
  • “[A] good starting point for exploring PPPs in the Caribbean would be to identify and define those key elements of what constitutes a ‘good’ PPP, and to explore the implications of these elements in designing and structuring PPPs that are relevant to the needs of the Caribbean, especially in the context of Small Island Developing States (SIDS) where the challenges of capacity, scale, scope and ingrained sociocultural patterns and dynamics between the actors are given due and thorough consideration.”
  • “In SIDS the challenges to successful PPP deals are exacerbated by scale, scope, and capacity. However, if these issues are addressed in the design process, in theory, at least, PPP arrangements can indeed offer substantial public benefits, including a strengthened governance culture, improved service quality , risk sharing with the private sector, access to investment capital and cost savings. In practice, however, the challenges that PPPs pose if not mitigated, can undermine their acceptance, successful implementation, and performance.”

Filed Under: Economy & Investment Tagged With: Barbados, Business, caribbean, development, growth, Guardian, Kurt Kisto, PPPs, public-private partnerships, SIDS, Small Island Developing States, sustainable, Trinidad and Tobago

Chris Barton

Reader Interactions

Comments

  1. Nathalie says

    February 9, 2016 at 10:29 am

    Congratulation Mr. Kisto.

    Reply

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We provide unique and timely insights on the Caribbean and its political, social, and economic development. At the IDB, we strive to improve lives in the Caribbean by creating vibrant and resilient economies where people are safe, productive and happy.

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