According to a press statement, IFC will assist the government to lead efforts to develop airports, roads and tourism - crucial development priorities of Nepal -- under public-private partnership. Under the support, IFC has announced it will assist the government in identifying projects and setting transparent standardized bidding procedures in consultation with the stakeholders. [break]
It also committed to support development of regulatory, institutional and policy framework to create enabling environment for implementing public-private partnerships effectively.
“IFC´s expertise will enable us to better structure private participation in the upcoming public infrastructure projects,” the statement quoted Radhesh Pant, CEO of Nepal Investment Board as saying. “We need to tap into such partnerships more proactively,” he added.
Presently, infrastructure projects in Nepal are funded by the national budget. Private sector participation in such projects can help address critical infrastructure gaps cost-effectively. A white paper by the National Planning Commission has already identified public-private partnerships as an alternative source of building assets.
“The fresh initiative of IFC should help Nepal to unlock the huge potential of public-private partnerships,” the statement quoted Val Bagatsing, IFC Resident Representative for Nepal as saying. “IFC´s global expertise will help overcome the challenges in doing this,” he stated.
IFC has been offering advisory services to the national and municipal governments on structuring public-private partnerships for basic amenities such as infrastructure, health and education.
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