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Public Private Partnerships are long term contracts between private and public sector entities, aiming at implementing projects and delivering services
Private and public sector have distinct roles:
▸ Τhe expertise and efficiency of the private sector is utilised.
▸ The ownership of the property remains in the Public, which also maintains a strong supervisory and regulatory role.
▸ Quality projects are constructed, while high quality services are provided to citizens/end users
▸ PPPs constitute an important tool to stimulate economic growth, leveraging private funds in development projects.
The Inter-Ministerial Committee for Public-Private Partnerships (ICPPP) is the collective governmental body which set the general policy for PPPs and approve projects that should proceed to implementation through the PPP framework.
▸ The Minister of Economy and Development (Head of Committee)
▸ The Minister of Finance
▸ The Minister of Environment and Energy
▸ The Minister of Infrastructure and Transport
▸ The Minister of State
▸ The Minister(s) who supervise(s) each of the Public Bodies that are examining the implementation of PPP projects, under their competencies.
The ICPPP is responsible for:
▸ The approval of inclusion of PPP projects to the framework depicted in L/3389, as well as the cancelation of such approvals
▸ The decision for the provision of the any contractual consideration to the private partner in the Public Investments Programme
▸ The decision about the level of the public sector’s participation in the financing of a PPP project.