[Article]Boost for state's PPP model

from http://www.thepost.ie/news/ireland/boost-for-states-ppp-model-47964.html

The National Pension Reserve Fund (NPRF) has said it is prepared to finance large-scale infrastructure projects through public private partnerships (PPPs), after overcoming a number of obstacles that previously curtailed its involvement in the PPP model.

The move is a boost to the government, which has been attempting to breathe life into the PPP model, which has been hit by the global credit crunch. The NPRF expects to be in a position to examine potential PPP infrastructure financing deals by the end of this year.

The NPRF manages €20 billion of funds on behalf of the government. About €7 billion of this was used to recapitalise AIB and Bank of Ireland last year. The fund is governed by the National Treasury Management Agency (NTMA).

The NTMA has informed the Da€ il Public Accounts Committee that it is ‘‘keen to access PPP investments where the risk-return characteristics satisfy its statutory commercial investment mandate’’.

In correspondence with the committee at the start of this month, the NTMA said it was able to invest in the PPP model as a result of changes in the tendering process