Debt funding may be used by the Transport Agency to provide additional financing to bring forward infrastructure expenditure or for liquidity reasons.
A public private partnership (PPP) is a procurement method that usually involves debt funding. It is a long-term contractual collaboration between the public and private sectors to procure transport infrastructure and services. It requires the construction or enhancement of an asset, which is financed, designed, built, operated and maintained by the private sector partner, until its transfer to the public sector at the end of the contract.
This section sets out the guidance on the Transport Agency’s current PPP model including when it should be used to procure projects and how value for money is determined.