Business & Economy

IDB Latin American public-private partnership forum opens in Sao Paulo

Sao Paulo, Dec 9 (EFE).- Sao Paulo welcomed on Thursday public and private sector players from across Latin America and the Caribbean to discuss new trends and challenges in project management and financing, as part of the PPP Americas forum, organized by the Inter-American Development Bank (IDB).

During the event’s inauguration, IDB’s representative in Brazil, Morgan Doyle, pointed out that PPP Americas is the most important forum for the sector in the region and said that it will offer solutions so countries can advance towards a sustainable economic recovery.

“This is a priority for IDB, as established by our Vision 2025. For this reason, we place our technical and financing capacity at the disposal of the public and private sectors so that, together, we can build new and better chapters of our history,” said the international development expert.

For Sao Paulo Vice Governor Rodrigo Garcia, his state has chosen to participate in various public-private partnership (PPP) projects because it recognizes the relevance for the improvement of infrastructure, especially in developing countries.

“That is why there is no better place than Sao Paulo to host this forum,” he said.

PPP Americas 2021 “will help us to reflect on the experience obtained from previous projects and also on what will be essential in the post-Covid era,” he added, stressing that the Sao Paulo government “leads sustainable development in Brazil and believes that PPPs are the way to improve” infrastructure.

For his part, IDB Invest CEO James Scriven, who participated in the opening ceremony from Washington, highlighted the importance of PPPs to face the challenges created by the pandemic and the health crisis, as well as climate change, which requires rapid action.

“The infrastructure sector has been affected by this situation, but at the same time, we believe that project development can be part of the solution we are looking for,” Scriven said.

“Historically, PPPs have been a useful tool for attracting private financing for infrastructure projects and for streamlining construction processes through the effective allocation of project risk. They are also a very effective mechanism for the implementation of innovative technologies and operational advances,” he added.

According to the expert, public-private partnerships are also very efficient in reducing costs and increasing transparency.

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