Monday, December 13, 2010

Partnership Model

Sri Lanka said keen on public-private partnerships
Dec 13, 2010 (LBO) - Sri Lanka is keen on partnerships between the public and private sectors in developing its economy, the International Finance Corporation, which is supporting the initiative, said in a statement.

“Sri Lanka is actively considering options to increase private participation in development," it quoted Sarath Amunugama, Sri Lanka’s Senior Minister of International Monetary Cooperation as telling a forum.
"A sustainable public-private partnership model is an important part of our framework for economic growth and infrastructure development.”

The IFC, a member of the World Bank Group, said it is working with policymakers and private sector players to help meet Sri Lanka’s ongoing development agenda through public-private partnerships.

The forum held in Sri Lanka Monday was part of a series of IFC-led events in South Asia to identify and address concerns and challenges related to public-private partnerships among stakeholders, it said.

The event brought together specialists and expert speakers from around the world and was attended by officials of ministries and public sector departments of health, transportation, and municipal infrastructure and other multilateral partners.

"Improving quality of services in Sri Lanka, gaining efficiencies, and boosting economic growth through private participation in social and physical infrastructure were part of the discussions," the IFC said.

“Long lasting public-private arrangements receive public ownership while generating interest among local private sector players and other development partners with shared goals,” said Vipul Bhagat, Manager of IFC Advisory Services for Public-Private Partnerships in South Asia.

The Sri Lankan government is committed to facilitating the transition necessary to boost the country’s economic growth and build on development fundamentals, the IFC statement said.

"Public-private partnership activity can make an important contribution to help address the country’s immediate infrastructure needs and garner needed funding for the purpose."
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