The Public Spending Code: B. Expenditure under Consideration
Public Private Partnerships
Public Private Partnerships are an alternative way of financing a project. As stated in Public Spending Code Document B-03 Approvals Required and Scale of Appraisal procurement using PPP should always be considered when the value of the project exceeds €20m.
A Public Private Partnership (PPP) is an arrangement between the public and private sectors (consistent with a broad range of possible partnership structures) with clear agreement on shared objectives for the delivery of public infrastructure and/or public services by the private sector that would otherwise have been provided through traditional public sector procurement.
The PPP approach has the potential to offer value for money and timely delivery of infrastructure when applied to projects of the right scale, risk and operational profile.
One key aspect of the PPP approach is that risk is transferred to the party that can manage it best.
Further information on PPPs can be found on the Central PPP Unit’s website at www.ppp.gov.ie