Menzies, IainMandri-Perrott, Cledan2012-03-192012-03-192010978-0-8213-8085-7https://hdl.handle.net/10986/2416This book aims to help governments and public authorities to establish effective light rail-light metro transit (LRMT) systems, and focuses on use of Public-Private Participation (PPP) arrangements. Rather than identify a single approach, authors present options and discuss practical issues related to preparing and implementing new LRMT PPP schemes. The approach is focused on providing information that can be used to make informed decisions, adapted to local policy and objectives. The material presented is intended as a practical guide to developing LRMT PPPs in both developed and developing countries. This work endeavors to provide answers to readers' questions regarding how to successfully incorporate private sector participation in LRMT with a lesser emphasis on why LRMT and the private sector may be beneficial. The primary focus of this text is guiding the reader from design through to project implementation. It starts from the premise that underlying transport policy decisions will have already been made and that LRMT has already been identified as the appropriate transport solution. The authors have included some limited discussion of policy and technical issues where these directly impact the LRMT PPP approach. The approach is presented in nine sections, and in preparing it the author drew on current international LRMT PPP experience, through a series of interviews and case studies. The sections covered are: 1) urban transport and LRMT: an overview of urban transport policy, the characteristics of LRMT schemes and the influences on LRMT policies; 2) technical issues: a brief review of some key technical issues inherent in LRMT schemes and their potential impact on PPP design and implementation; 3) incorporating private sector participation in LRMT initiatives: what PPP has to offer, and an overview of the issues and stages public authorities follow to establish successful LRMT PPP arrangements; 4) understanding and managing risk: analyzing and allocating risks and responsibilities among stakeholders in the LRMT scheme and practical ways of designing risk allocation rules; 5) PPP, design, specifications and performance management: setting service standards and specifications and establishing associated costs; developing of performance and payment indicators and managing compliance; 6) funding and finance: large LRMT capital and system maintenance requirements require strong financing arrangements. The practical use of public and private financing mechanisms under PPP arrangement is reviewed; 7) developing a PPP agreement: looking at the main types of PPP agreements, an outline framework for developing the contractual arrangement is developed through re-view of key issues; 8) procurement: reviewing the approaches that the public authority can use to select the private partner; and 9) conclusions.CC BY 3.0 IGOACCOUNTINGAIRPORTSALTERNATIVE ROUTESANNUAL PAYMENTSASSET MANAGEMENTBALANCE SHEETBASIC COSTBEST PRACTICESBIDBORROWINGBUDGET DEFICITBUSINESS CYCLECALCULATIONSCAPACITY BUILDINGCAPITAL FLOWSCAPITAL INVESTMENTSCAPITAL MARKETSCARSCASH FLOWCHECKSCOLLATERALCOMPETITIVE BIDDINGCONGESTIONCONTINGENT LIABILITIESCONTRACT LAWCONTRACT RENEGOTIATIONCONTRACT RENEGOTIATIONSCONTRIBUTIONCONTRIBUTIONSCOST OF CAPITALCREDIT ENHANCEMENTCREDIT RATINGCREDIT RATINGSDEBTDEBT FINANCINGDEBT REPAYMENTDEBT SERVICEDEBT SERVICINGDEBT-SERVICEDEMAND FOR TRANSPORTDEPRECIATIONDEVELOPING COUNTRIESDEVELOPMENT BANKDIVERSIFICATIONDOUBLE TAXATIONDRIVERSDRIVINGECONOMIC ACTIVITYECONOMIC DEVELOPMENTECONOMICSEIBEMERGING MARKETSENFORCEMENT OF CONTRACTEXPENDITUREEXPENDITURESFINANCIAL ANALYSISFINANCIAL CRISESFINANCIAL CRISISFINANCIAL DISTRESSFINANCIAL INSTITUTIONSFINANCIAL RESOURCESFINANCIAL SUPPORTFINANCIAL TROUBLEFISCAL CONSTRAINTSFISCAL DISCIPLINEFISCAL POSITIONSFOREIGN CURRENCYFOREIGN EXCHANGEFOREIGN EXCHANGE RISKFOREIGN INVESTMENTFREE ROADSGLOBAL BUSINESSGOVERNMENT BUDGETGOVERNMENT FINANCINGGOVERNMENT POLICYGOVERNMENT SUPPORTGROSS DOMESTIC PRODUCTHIGHWAYHIGHWAY NETWORKHIGHWAYSHOLDINGINCOMEINFLATIONINFLATION RATEINFORMATION ASYMMETRYINFRASTRUCTURE INVESTMENTINFRASTRUCTURE INVESTMENTSINFRASTRUCTURE PROJECTSINSTITUTIONAL CAPACITYINSTRUMENTINTEREST RATEINTERNAL RATE OF RETURNINTERNATIONAL AIRPORTINTERNATIONAL BANKINTERNATIONAL CAPITALINTERNATIONAL FINANCIAL INSTITUTIONINTERNATIONAL FINANCIAL INSTITUTIONSINTERNATIONAL TRADEINTERNATIONAL TRADE LAWINVESTINGINVESTMENT ACTIVITYINVESTMENT BANKINVESTMENT PROGRAMSINVESTMENT PROJECTSLANESLAWSLEGAL ENVIRONMENTLEGAL FRAMEWORKLEGAL PROTECTIONSLEGISLATIONLEGISLATIVE FRAMEWORKLENDERSLEVYLIABILITYLLCLOCAL GOVERNMENTSMACROECONOMIC CONDITIONSMAJOR ASSETMARKET ECONOMYMATURE CAPITAL MARKETSMATURITIESMATURITYMINISTRIES OF FINANCEMONETARY FUNDMOTORWAYSMUNICIPALITIESNATIONAL ECONOMIESPASSENGER TRANSPORTPERFORMANCE RISKPOLITICAL UNCERTAINTYPOOR CREDITPOOR CREDIT RATINGPOTENTIAL INVESTORSPOVERTY ALLEVIATIONPRESENT VALUEPRIVATE FINANCEPRIVATE FINANCINGPRIVATE FUNDSPRIVATE INVESTMENTPRIVATE INVESTORSPRIVATE PARTIESPRIVATE PARTYPRIVATE SECTOR INVESTMENTPRIVATE TRANSPORTPRODUCTIVITYPROFITABILITYPUBLIC AGENCIESPUBLIC DEBTPUBLIC FINANCEPUBLIC GOODPUBLIC INVESTMENTPUBLIC SERVICE PROVISIONPUBLIC SERVICESQUANTITATIVE ANALYSISRAILROADSRAILWAYRAILWAY SECTORRAILWAYSRAPID DEVELOPMENTRECESSIONRECURRENT EXPENDITUREREGIONAL TRANSPORTREGULATORY FRAMEWORKRENEGOTIATIONRENEGOTIATIONSRETURN ON EQUITYRETURN ON INVESTMENTRETURNSRISK MANAGEMENTRISK MITIGATIONRISK PROFILERISK SHARINGROADROAD INFRASTRUCTUREROAD NETWORKROAD PROJECTSROAD SECTORROAD SYSTEMROAD USEROAD USERSROADSSAFETYSAVINGSSHAREHOLDERSSTAKEHOLDERSSTATE PROPERTYSUBSIDIARYTAXATIONTECHNICAL ASSISTANCETELECOMMUNICATIONSTOLLTOLL COLLECTIONTOLL MOTORWAYTOLL MOTORWAYSTOLL ROADTOLL ROADSTOLLSTOTAL ANNUAL INVESTMENTTOTAL COSTTRAFFICTRAFFIC DEMANDTRAFFIC LEVELSTRAFFIC RISKTRAFFIC VOLUMESTRAMTRANSACTIONTRANSACTION COSTSTRANSITTRANSITION COUNTRIESTRANSPARENCYTRANSPORTTRANSPORT INFRASTRUCTURETRANSPORT INVESTMENTTRANSPORT INVESTMENTSTRANSPORT NETWORKTRANSPORT PROJECTSTRANSPORT SECTORTRANSPORT SYSTEMSTREASURYTREATYVALUABLEVEHICLEVEHICLESWORTHWorld Bank10.1596/978-0-8213-8085-7