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.
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.”