THE EUROPEAN Union should do more to promote Public Private Partnerships in its member states, according to a PriceWaterhouseCoopers (PWC) report published last week.
The report, Developing public private partnerships in new Europe, says that the PPP market in Europe is under developed because officials in both the EU and its member states do not understand its complexities.
According to the report these countries are missing out on efficiency savings of 15% or more.
Private financing of EU projects is expected to grow significantly in the next three years as 10 new member states attempt to spend £16bn of EU funds earmarked for infrastructure improvements (NCE 29 April).
Private finance will be important as EU rules dictate that the countries themselves must match 25-30% of this funding.
A consultative green paper entitled Public private partnerships and community law on public contracts and concessions was released by the EU earlier this month.
PWC plans to use the findings of its report in its response to the green paper.
'The EU has rightly stated that PPPs should be a viable alternative to more traditional forms of procurement and can offer enhanced value for money. It needs to act as a catalyst to support its vision for PPPs, ' said PWC partner Richard Abadie.
INFOPLUS The full report can be downloaded from www. nceplus.co.uk