Tab. 1.
PPP models
| Sector | Country | PPP models |
|---|---|---|
| Transport | Australia, Canada, France, Greece, Ireland, Italy, New Zealand, Spain, the UK, the US, India | DBOM (DBFO), BOOT, Divestiture |
| Water, wastewater, and waste | Australia, France, Ireland, the UK, the US, Canada, India | DB, DBO, BOOT, Divestiture |
| Education | Australia, Netherlands, the UK, Ireland, India | DB, DBO, DBOM, BOOT, DBFO/M, integrator |
| Housing/urban regeneration | Netherlands, the UK, Ireland | DBFM, joint venture |
| Hospitals | Australia, Canada, Portugal, South Africa, the UK | BOO, BOOT, integrator |
| Defence | Australia, Germany, the UK, the US | DBOM, BOO, BOOT, alliance, joint venture |
| Prisons | Australia, France, Germany, the UK, the US | DB, DBO, BOO, management contract |
1 Source: Based on Adapted from Deloitte, by Eggers & Startup, 2006, p. 20.BOO, build-own-operate; BOOT, build-own-operate-transfer; DB, design-build; DBFM, design-build-finance-maintain; DBFO, design-build-finance-operate; DBFO/M, design-build-finance-operate/maintain; DBO, design-build-operate; DBOM, design-build-operate-maintain; PPP, public-private partnership.
Fig. 1.
Sources of financing by PPP stages. PPP, public-private partnership
Fig. 2.
Main factors influencing the choice of the source of financing PPP. PPP, public-private partnership
Tab. 2.
Literature review and contribution of main papers
| Type of literature | Authors | Contribution |
|---|---|---|
| Empirical study | Rao (2018) | Empirical study that investigated PPP mainly from the private perspective, realization PPP by project finance and the increasing importance the role of guarantees in catalyzing finance, both through banks and bonds. |
| Empirical study | Rao (2020) | The use of capital market instruments to finance PPP infrastructure projects. Analysis of infrastructure projects by sources of finance. |
| Empirical study | Engel, Fischer & Galetovic (2014) | Investigation of ideal PPP contracts and distinguishing sources of finance by project stage. |
| Empirical study | Jian-cheng, Xi-shuang, Ping-mei & Jiao-ju (2013) | Determine optimal capital structure for the decision-making basis for investor, loaner, and governor. |
| Empirical study | Emirullah & Azam (2014) | Empirical conclusions about the influence of investment climate on PPP arrangement in ASEAN countries. |
| Empirical study | Acerete, Gasca, & Stafford (2019) | Investigation of DBFO and ex-post evaluation of road PPP projects with analysis of debt and equity financial resources. |
| Case Study | Regan, Love & Smith (2013) | Review Australian case of PPP implementation with attracting debt and equity finance in regard with market condition. |
| Case Study | Man & Jurčíková (2015) | Theoretical distinguishing of financial sources PPPs used in the Czech Republic. |
| Theoretical research | Du, Wu & Zhao (2018) | Critical factors about capital structure, the relationship between factors, and the capital structure of a PPP project. |
| Report | EIB 2019, EIB 2021 | Review of the European PPP Market and Investment report prepared by the leading financial institution: The European Investment Bank |
| Report | OECD (2015) | Taxonomy of instruments and vehicles for infrastructure financing. |
| Guidebook | Eggers & Startup (2006) | Main PPP models employed by countries. |
| Guidebook | Yescombe (2007), Weber & Alfen (2010) | The PPP guidebooks for public and private sectors. |
Fig. 3.
Number of PPP in 2009–2020 with Poland GRP percapita 2018. GRP, gross regional product; PPP, public-private partnership
Tab. 3.
Sources of local governments’ proceeds from loans and bonds in 2009-2018 (in billion EUR)
| Municipalities | Financial instruments | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cities | Bonds | 0.8 | 0.6 | 0.7 | 0.3 | 0.5 | 0.1 | 0.1 | 0.1 | 0.0 | 0.0 |
| Loans | 1.5 | 1.2 | 1.2 | 0.9 | 0.7 | 1.0 | 0.8 | 0.4 | 0.6 | 1.1 | |
| Communes | Bonds | 0.3 | 0.4 | 0.3 | 0.2 | 0.4 | 0.1 | 0.0 | 0.0 | 0.1 | 0.1 |
| Loans | 1.6 | 2.1 | 1.8 | 1.2 | 1.0 | 1.0 | 0.8 | 0.6 | 1.0 | 2.1 |
Fig. 4.
Value of PPP project and Gross fixed capital investments in Poland 2008–2019 (million EUR). PPP, public-private partnership
Fig. 5.
Number and value of projects implemented with and without EU support. EU, European Union
Fig. 6.
Distribution of PPP projects with and without EU support in Poland 2009–2019. EU, European Union; PPP, public-private partnership
Fig. 7.
Split of PPP projects with EU support in%. EU, European Union; PPP, public-private partnership
Fig. 8.
Dynamics of loans in large corporations and SME in Poland 2010–2019