A bill drafted by Ministry of Finance & Economic Cooperation (MoFEC) to oversee Public Private
A bill drafted by Ministry of Finance & Economic Cooperation (MoFEC) to oversee Public Private Partnerships (PPPs) over financing infrastructure and utilities was approved by the Council of Ministers (MoC). Following the approval, the bill was sent to the parliament for ratification.
The bill was initially studied by a fund from the government, the African Development Bank (AfDB), and the Department for International Development (DFID) for two years. It is expected to give relief to the government that is usually lacking finance for mega projects.
The government took into account the experiences of South Korea, Colombia, and Peru while drafting the bill. Upon approval by the parliament, a new committee of ministers and state ministers will be formed to decide on partnership contracts.
Even though there has been previously implemented public-private partnership programs, there had been no legal framework to administer such programs.