To gain a better understanding of how innovation in public-private partnerships (PPPs) builds on genuine learning, we reached out to PPP infrastructure experts around the world, posing the same question to each. Their honest answers redefine what works — and provide new insights into the PPP process. This is the question we posed: How can mistakes be absorbed into the learning process, and when can failure function as a step toward a PPP’s long-term success?
Our eighth and final response in this eight-part series comes from Thomas Maier, Managing Director, Infrastructure with the European Bank for Reconstruction and Development (EBRD).
For countries new to PPPs, there is no doubt a steep learning curve. Fortunately, there is also a growing body of experience that such countries can learn from — the key is to understand the essence of the lessons and then incorporate these changes into the design of government support for PPPs.
Ultimately there is, of course, no substitute for good project preparation, local capacity and the development of solid legal frameworks and local capital markets — we all know these are the building blocks for the long-term success of any country’s PPP program.
Focusing on lessons learned from EBRD’s region, two current examples from Kazakhstan and Turkey come to mind.