An Operational Framework for Managing Fiscal Commitments from Public-Private Partnerships
The National policy on public-private partnerships (PPP) recently approved by the Government of Ghana (GoG) sets out the government's intention to use PPPs to improve the quality, cost-effectiveness, and timely provision of public infrastructu...
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| Format: | Publication |
| Language: | English en_US |
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Washington, DC: World Bank
2013
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| Online Access: | http://documents.worldbank.org/curated/en/2013/02/17406426/ghana-operational-framework-managing-fiscal-commitments-public-private-partnerships http://hdl.handle.net/10986/13101 |
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okr-10986-13101 |
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oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCOUNTABILITY ACCOUNTING ACCOUNTING STANDARDS ACCRUAL ACCOUNTING AFFORDABILITY ANNUAL PAYMENT ANNUAL PAYMENTS APPROVAL PROCESS BALANCE SHEET BANKING SECTOR BID BOND BOND MARKET BONDS BORROWING COST BUDGET CONSTRAINTS BUDGET IMPLICATION BUDGET IMPLICATIONS BUDGETING CAPACITY BUILDING CASH ACCOUNTING CASH FLOW CASH PAYMENTS CC CHECKS COMMERCIAL LOANS CONCESSION CONTINGENT LIABILITIES CONTINGENT LIABILITY CONTRACT MANAGEMENT CONTRACTUAL ARRANGEMENT CONTRACTUAL CLAUSES CONTRACTUAL RELATIONSHIP COST ESTIMATES CREDIBILITY CREDIT GUARANTEES CURRENCY DEBT DEBT ISSUANCE DEBT MANAGEMENT DEBT SERVICE DEBT STOCK DEFAULTS DIRECT LOANS DIRECT PAYMENTS DISCOUNT RATE DOMESTIC DEBT DOWNSIDE SCENARIOS ECONOMIC ANALYSIS ECONOMIC CRISIS ECONOMIC GROWTH ECONOMIC POLICY ECONOMIC TRANSACTION EFFECTIVE GOVERNANCE EIB EQUITY INVESTMENTS EXCHANGE RATE EXCHANGE RATE MOVEMENTS EXCHANGE RATES EXISTING DEBT EXISTING LIABILITIES EXPENDITURE EXTERNAL BORROWING EXTERNALITIES FACE VALUE FINANCE INITIATIVE FINANCIAL ADMINISTRATION FINANCIAL ANALYSIS FINANCIAL CRISIS FINANCIAL HEALTH FINANCIAL LIABILITIES FINANCIAL MANAGEMENT FINANCIAL MANAGEMENT SYSTEMS FINANCIAL OBLIGATION FINANCIAL OBLIGATIONS FINANCIAL PERFORMANCE FINANCIAL POSITION FINANCIAL RATIOS FINANCIAL REPORTING FINANCIAL REPORTING STANDARDS FINANCIAL STATEMENTS FINANCIAL SUPPORT FINANCIAL TRANSACTIONS FISCAL CONSTRAINTS FISCAL MANAGEMENT FISCAL SUPPORT GOVERNMENT ACCOUNTS GOVERNMENT BUDGETS GOVERNMENT DEBT GOVERNMENT EXPENDITURES GOVERNMENT FINANCE GOVERNMENT GUARANTEES GOVERNMENT OBLIGATIONS GOVERNMENT POLICY GOVERNMENT REVENUE GOVERNMENT SUPPORT GROSS DOMESTIC PRODUCT INDEBTEDNESS INFORMATION REQUIREMENTS INFORMATION SYSTEM INSTITUTIONAL ARRANGEMENTS INSTITUTIONAL FRAMEWORK INSTRUMENT INSURANCE INTEREST RATE INTEREST RATE RISK INTEREST RATES INTERGOVERNMENTAL FINANCE INTERNATIONAL BANK INTERNATIONAL BUSINESS INTERNATIONAL STANDARDS INVESTING INVESTMENT DECISIONS INVESTMENT PLAN INVESTMENT PROJECTS JUDGMENT KEY CHALLENGES LEGISLATION LENDERS LIABILITY LIABILITY MANAGEMENT LICENSES LIQUIDITY LOAN LOAN GUARANTEE LOCAL GOVERNMENT LONG-TERM LOANS MACROECONOMICS MANDATE MDAS MONETARY FUND NATIONAL BUDGET NATIONAL DEBT NATURAL DISASTERS NEGOTIATION NEGOTIATIONS OPPORTUNITY COST PAYMENT OBLIGATIONS PENSION PORTFOLIO PRESENT VALUE PRIVATE FINANCE PRIVATE INVESTMENT PRIVATE PARTY PRIVATE SECTOR PRIVATE SECTOR FINANCE PRIVATE SECTOR INVESTMENT PRIVATE SECTOR PARTICIPATION PROCUREMENT PROVISIONS PUBLIC PUBLIC ASSETS PUBLIC BORROWING PUBLIC DEBT PUBLIC DEBT MANAGEMENT PUBLIC DEBTS PUBLIC DISCLOSURE PUBLIC FINANCES PUBLIC FUNDS PUBLIC INFRASTRUCTURE PUBLIC INVESTMENT PUBLIC INVESTMENTS PUBLIC LIABILITY PUBLIC PROCUREMENT PUBLIC SECTOR PUBLIC SECTOR ACCOUNTING PUBLIC SERVICES PUBLIC-PRIVATE PARTNERSHIP PUBLIC-PRIVATE PARTNERSHIPS REGULAR PAYMENTS REPAYMENT REPAYMENTS RETURN RETURN ON INVESTMENT REVENUE GUARANTEES REVENUE MANAGEMENT RISK EXPOSURE RISK FACTORS RISK OF DEFAULT ROADS SOVEREIGN GUARANTEES STATISTICAL ANALYSIS STRUCTURE OF GOVERNMENT TARIFF REVENUE TAX TAX REVENUES TECHNICAL ASSISTANCE TRANSACTION TRANSPARENCY TRANSPORT UNION USER CHARGES USER FEES |
| spellingShingle |
ACCOUNTABILITY ACCOUNTING ACCOUNTING STANDARDS ACCRUAL ACCOUNTING AFFORDABILITY ANNUAL PAYMENT ANNUAL PAYMENTS APPROVAL PROCESS BALANCE SHEET BANKING SECTOR BID BOND BOND MARKET BONDS BORROWING COST BUDGET CONSTRAINTS BUDGET IMPLICATION BUDGET IMPLICATIONS BUDGETING CAPACITY BUILDING CASH ACCOUNTING CASH FLOW CASH PAYMENTS CC CHECKS COMMERCIAL LOANS CONCESSION CONTINGENT LIABILITIES CONTINGENT LIABILITY CONTRACT MANAGEMENT CONTRACTUAL ARRANGEMENT CONTRACTUAL CLAUSES CONTRACTUAL RELATIONSHIP COST ESTIMATES CREDIBILITY CREDIT GUARANTEES CURRENCY DEBT DEBT ISSUANCE DEBT MANAGEMENT DEBT SERVICE DEBT STOCK DEFAULTS DIRECT LOANS DIRECT PAYMENTS DISCOUNT RATE DOMESTIC DEBT DOWNSIDE SCENARIOS ECONOMIC ANALYSIS ECONOMIC CRISIS ECONOMIC GROWTH ECONOMIC POLICY ECONOMIC TRANSACTION EFFECTIVE GOVERNANCE EIB EQUITY INVESTMENTS EXCHANGE RATE EXCHANGE RATE MOVEMENTS EXCHANGE RATES EXISTING DEBT EXISTING LIABILITIES EXPENDITURE EXTERNAL BORROWING EXTERNALITIES FACE VALUE FINANCE INITIATIVE FINANCIAL ADMINISTRATION FINANCIAL ANALYSIS FINANCIAL CRISIS FINANCIAL HEALTH FINANCIAL LIABILITIES FINANCIAL MANAGEMENT FINANCIAL MANAGEMENT SYSTEMS FINANCIAL OBLIGATION FINANCIAL OBLIGATIONS FINANCIAL PERFORMANCE FINANCIAL POSITION FINANCIAL RATIOS FINANCIAL REPORTING FINANCIAL REPORTING STANDARDS FINANCIAL STATEMENTS FINANCIAL SUPPORT FINANCIAL TRANSACTIONS FISCAL CONSTRAINTS FISCAL MANAGEMENT FISCAL SUPPORT GOVERNMENT ACCOUNTS GOVERNMENT BUDGETS GOVERNMENT DEBT GOVERNMENT EXPENDITURES GOVERNMENT FINANCE GOVERNMENT GUARANTEES GOVERNMENT OBLIGATIONS GOVERNMENT POLICY GOVERNMENT REVENUE GOVERNMENT SUPPORT GROSS DOMESTIC PRODUCT INDEBTEDNESS INFORMATION REQUIREMENTS INFORMATION SYSTEM INSTITUTIONAL ARRANGEMENTS INSTITUTIONAL FRAMEWORK INSTRUMENT INSURANCE INTEREST RATE INTEREST RATE RISK INTEREST RATES INTERGOVERNMENTAL FINANCE INTERNATIONAL BANK INTERNATIONAL BUSINESS INTERNATIONAL STANDARDS INVESTING INVESTMENT DECISIONS INVESTMENT PLAN INVESTMENT PROJECTS JUDGMENT KEY CHALLENGES LEGISLATION LENDERS LIABILITY LIABILITY MANAGEMENT LICENSES LIQUIDITY LOAN LOAN GUARANTEE LOCAL GOVERNMENT LONG-TERM LOANS MACROECONOMICS MANDATE MDAS MONETARY FUND NATIONAL BUDGET NATIONAL DEBT NATURAL DISASTERS NEGOTIATION NEGOTIATIONS OPPORTUNITY COST PAYMENT OBLIGATIONS PENSION PORTFOLIO PRESENT VALUE PRIVATE FINANCE PRIVATE INVESTMENT PRIVATE PARTY PRIVATE SECTOR PRIVATE SECTOR FINANCE PRIVATE SECTOR INVESTMENT PRIVATE SECTOR PARTICIPATION PROCUREMENT PROVISIONS PUBLIC PUBLIC ASSETS PUBLIC BORROWING PUBLIC DEBT PUBLIC DEBT MANAGEMENT PUBLIC DEBTS PUBLIC DISCLOSURE PUBLIC FINANCES PUBLIC FUNDS PUBLIC INFRASTRUCTURE PUBLIC INVESTMENT PUBLIC INVESTMENTS PUBLIC LIABILITY PUBLIC PROCUREMENT PUBLIC SECTOR PUBLIC SECTOR ACCOUNTING PUBLIC SERVICES PUBLIC-PRIVATE PARTNERSHIP PUBLIC-PRIVATE PARTNERSHIPS REGULAR PAYMENTS REPAYMENT REPAYMENTS RETURN RETURN ON INVESTMENT REVENUE GUARANTEES REVENUE MANAGEMENT RISK EXPOSURE RISK FACTORS RISK OF DEFAULT ROADS SOVEREIGN GUARANTEES STATISTICAL ANALYSIS STRUCTURE OF GOVERNMENT TARIFF REVENUE TAX TAX REVENUES TECHNICAL ASSISTANCE TRANSACTION TRANSPARENCY TRANSPORT UNION USER CHARGES USER FEES Shendy, Riham Martin, Helen Mousley, Peter An Operational Framework for Managing Fiscal Commitments from Public-Private Partnerships |
| geographic_facet |
Africa Ghana |
| relation |
A World Bank study; |
| description |
The National policy on public-private
partnerships (PPP) recently approved by the Government of
Ghana (GoG) sets out the government's intention to use
PPPs to improve the quality, cost-effectiveness, and timely
provision of public infrastructure in Ghana. The PPP policy
highlights the role of the government's financial
support to PPPs, as well as the importance of putting in
place a system to manage the associated fiscal commitments
(FCs). As noted in the policy, the government's
contribution to a PPP may include remuneration to the
private party from government budgets, which may be fixed or
partially fixed, periodic payments (annuities) and
contingent. This report proposes an operational framework
for managing fiscal obligations arising from PPPs in Ghana.
This framework aims to ensure that PPP FCs are consistently
identified and assessed during PPP project preparation, and
that these assessments are fed into project approval. The
report outlines roles and responsibilities, concepts, and
processes for managing PPP FCs, drawing on international
standards and practices, bearing in mind existing
institutions and capacities in Ghana. The report also
suggests legislative additions and capacity building needed
to establish this framework in practice. This report focuses
primarily on managing long-term FCs to PPPs, including
regular payments or contingent liabilities (CL) that
typically last throughout a project's lifetime. This
report is structured as follows: chapter 1 is introduction;
chapter; 2 introduces the concept of FCs from PPPs: how and
why PPPs create FCs, why managing them is important, and an
overview of what it entails; chapter 3 presents
institutional roles and responsibilities; chapter 4
describes how FC management should be incorporated in the
PPP development and approval process; chapter 5 describes
how FCs can be managed during PPP implementation by
monitoring, reporting, and budgeting adequately; and chapter
6 sets out the steps needed to begin to implement this PPP
framework-to build its core requirements into the
forthcoming PPP Law, and to build capacity in the relevant
entities to carry out those requirements in practice. |
| format |
Publications & Research :: Publication |
| author |
Shendy, Riham Martin, Helen Mousley, Peter |
| author_facet |
Shendy, Riham Martin, Helen Mousley, Peter |
| author_sort |
Shendy, Riham |
| title |
An Operational Framework for Managing Fiscal Commitments from Public-Private Partnerships |
| title_short |
An Operational Framework for Managing Fiscal Commitments from Public-Private Partnerships |
| title_full |
An Operational Framework for Managing Fiscal Commitments from Public-Private Partnerships |
| title_fullStr |
An Operational Framework for Managing Fiscal Commitments from Public-Private Partnerships |
| title_full_unstemmed |
An Operational Framework for Managing Fiscal Commitments from Public-Private Partnerships |
| title_sort |
operational framework for managing fiscal commitments from public-private partnerships |
| publisher |
Washington, DC: World Bank |
| publishDate |
2013 |
| url |
http://documents.worldbank.org/curated/en/2013/02/17406426/ghana-operational-framework-managing-fiscal-commitments-public-private-partnerships http://hdl.handle.net/10986/13101 |
| _version_ |
1764422477911425024 |
| spelling |
okr-10986-131012021-04-23T14:03:06Z An Operational Framework for Managing Fiscal Commitments from Public-Private Partnerships Shendy, Riham Martin, Helen Mousley, Peter ACCOUNTABILITY ACCOUNTING ACCOUNTING STANDARDS ACCRUAL ACCOUNTING AFFORDABILITY ANNUAL PAYMENT ANNUAL PAYMENTS APPROVAL PROCESS BALANCE SHEET BANKING SECTOR BID BOND BOND MARKET BONDS BORROWING COST BUDGET CONSTRAINTS BUDGET IMPLICATION BUDGET IMPLICATIONS BUDGETING CAPACITY BUILDING CASH ACCOUNTING CASH FLOW CASH PAYMENTS CC CHECKS COMMERCIAL LOANS CONCESSION CONTINGENT LIABILITIES CONTINGENT LIABILITY CONTRACT MANAGEMENT CONTRACTUAL ARRANGEMENT CONTRACTUAL CLAUSES CONTRACTUAL RELATIONSHIP COST ESTIMATES CREDIBILITY CREDIT GUARANTEES CURRENCY DEBT DEBT ISSUANCE DEBT MANAGEMENT DEBT SERVICE DEBT STOCK DEFAULTS DIRECT LOANS DIRECT PAYMENTS DISCOUNT RATE DOMESTIC DEBT DOWNSIDE SCENARIOS ECONOMIC ANALYSIS ECONOMIC CRISIS ECONOMIC GROWTH ECONOMIC POLICY ECONOMIC TRANSACTION EFFECTIVE GOVERNANCE EIB EQUITY INVESTMENTS EXCHANGE RATE EXCHANGE RATE MOVEMENTS EXCHANGE RATES EXISTING DEBT EXISTING LIABILITIES EXPENDITURE EXTERNAL BORROWING EXTERNALITIES FACE VALUE FINANCE INITIATIVE FINANCIAL ADMINISTRATION FINANCIAL ANALYSIS FINANCIAL CRISIS FINANCIAL HEALTH FINANCIAL LIABILITIES FINANCIAL MANAGEMENT FINANCIAL MANAGEMENT SYSTEMS FINANCIAL OBLIGATION FINANCIAL OBLIGATIONS FINANCIAL PERFORMANCE FINANCIAL POSITION FINANCIAL RATIOS FINANCIAL REPORTING FINANCIAL REPORTING STANDARDS FINANCIAL STATEMENTS FINANCIAL SUPPORT FINANCIAL TRANSACTIONS FISCAL CONSTRAINTS FISCAL MANAGEMENT FISCAL SUPPORT GOVERNMENT ACCOUNTS GOVERNMENT BUDGETS GOVERNMENT DEBT GOVERNMENT EXPENDITURES GOVERNMENT FINANCE GOVERNMENT GUARANTEES GOVERNMENT OBLIGATIONS GOVERNMENT POLICY GOVERNMENT REVENUE GOVERNMENT SUPPORT GROSS DOMESTIC PRODUCT INDEBTEDNESS INFORMATION REQUIREMENTS INFORMATION SYSTEM INSTITUTIONAL ARRANGEMENTS INSTITUTIONAL FRAMEWORK INSTRUMENT INSURANCE INTEREST RATE INTEREST RATE RISK INTEREST RATES INTERGOVERNMENTAL FINANCE INTERNATIONAL BANK INTERNATIONAL BUSINESS INTERNATIONAL STANDARDS INVESTING INVESTMENT DECISIONS INVESTMENT PLAN INVESTMENT PROJECTS JUDGMENT KEY CHALLENGES LEGISLATION LENDERS LIABILITY LIABILITY MANAGEMENT LICENSES LIQUIDITY LOAN LOAN GUARANTEE LOCAL GOVERNMENT LONG-TERM LOANS MACROECONOMICS MANDATE MDAS MONETARY FUND NATIONAL BUDGET NATIONAL DEBT NATURAL DISASTERS NEGOTIATION NEGOTIATIONS OPPORTUNITY COST PAYMENT OBLIGATIONS PENSION PORTFOLIO PRESENT VALUE PRIVATE FINANCE PRIVATE INVESTMENT PRIVATE PARTY PRIVATE SECTOR PRIVATE SECTOR FINANCE PRIVATE SECTOR INVESTMENT PRIVATE SECTOR PARTICIPATION PROCUREMENT PROVISIONS PUBLIC PUBLIC ASSETS PUBLIC BORROWING PUBLIC DEBT PUBLIC DEBT MANAGEMENT PUBLIC DEBTS PUBLIC DISCLOSURE PUBLIC FINANCES PUBLIC FUNDS PUBLIC INFRASTRUCTURE PUBLIC INVESTMENT PUBLIC INVESTMENTS PUBLIC LIABILITY PUBLIC PROCUREMENT PUBLIC SECTOR PUBLIC SECTOR ACCOUNTING PUBLIC SERVICES PUBLIC-PRIVATE PARTNERSHIP PUBLIC-PRIVATE PARTNERSHIPS REGULAR PAYMENTS REPAYMENT REPAYMENTS RETURN RETURN ON INVESTMENT REVENUE GUARANTEES REVENUE MANAGEMENT RISK EXPOSURE RISK FACTORS RISK OF DEFAULT ROADS SOVEREIGN GUARANTEES STATISTICAL ANALYSIS STRUCTURE OF GOVERNMENT TARIFF REVENUE TAX TAX REVENUES TECHNICAL ASSISTANCE TRANSACTION TRANSPARENCY TRANSPORT UNION USER CHARGES USER FEES The National policy on public-private partnerships (PPP) recently approved by the Government of Ghana (GoG) sets out the government's intention to use PPPs to improve the quality, cost-effectiveness, and timely provision of public infrastructure in Ghana. The PPP policy highlights the role of the government's financial support to PPPs, as well as the importance of putting in place a system to manage the associated fiscal commitments (FCs). As noted in the policy, the government's contribution to a PPP may include remuneration to the private party from government budgets, which may be fixed or partially fixed, periodic payments (annuities) and contingent. This report proposes an operational framework for managing fiscal obligations arising from PPPs in Ghana. This framework aims to ensure that PPP FCs are consistently identified and assessed during PPP project preparation, and that these assessments are fed into project approval. The report outlines roles and responsibilities, concepts, and processes for managing PPP FCs, drawing on international standards and practices, bearing in mind existing institutions and capacities in Ghana. The report also suggests legislative additions and capacity building needed to establish this framework in practice. This report focuses primarily on managing long-term FCs to PPPs, including regular payments or contingent liabilities (CL) that typically last throughout a project's lifetime. This report is structured as follows: chapter 1 is introduction; chapter; 2 introduces the concept of FCs from PPPs: how and why PPPs create FCs, why managing them is important, and an overview of what it entails; chapter 3 presents institutional roles and responsibilities; chapter 4 describes how FC management should be incorporated in the PPP development and approval process; chapter 5 describes how FCs can be managed during PPP implementation by monitoring, reporting, and budgeting adequately; and chapter 6 sets out the steps needed to begin to implement this PPP framework-to build its core requirements into the forthcoming PPP Law, and to build capacity in the relevant entities to carry out those requirements in practice. 2013-04-09T18:46:03Z 2013-04-09T18:46:03Z 2013-02-09 http://documents.worldbank.org/curated/en/2013/02/17406426/ghana-operational-framework-managing-fiscal-commitments-public-private-partnerships 978-0-8213-9868-5 10.1596/978-0-8213-9868-5 http://hdl.handle.net/10986/13101 English en_US A World Bank study; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC: World Bank Publications & Research :: Publication Publications & Research :: Publication Africa Ghana |