The Public-Private Partnership Support Fund has now become operational, marking a significant milestone in enhancing the General Public-Private Partnership Body's (IGPPP) capabilities. Furthermore, specialised units have been established within relevant ministries and institutions with the objective of stimulating investments, announced Prime Minister Najla Bouden on Thursday.
She spoke in a pre-recorded speech delivered during her diplomatic mission to Geneva, which was subsequently broadcasted at the opening of a seminar titled "Public-Private Partnerships for Sustainable and Inclusive Growth," organized on June 15th and 16th, 2023 in Tunis by the IGPPP, the Deposits and Consignments Fund, in collaboration with the African Development Bank (AfDB).
Bouden voiced the government's commitment to ongoing cooperation with the AfDB and North African nations; this collaboration aspires to establish institutional communication channels, sign partnership agreements, and develop regional projects such as the Maghreb motorway.
The PM highlighted that this seminar will become an annual event due to its vital role in achieving the Sustainable Development Goals (SDGs), particularly the seventeenth and final goal, which advocates for effective partnerships among governments, the private sector, and civil society.
She emphasised that the government will work towards fortifying PPPs by improving the business climate and prioritising high-value-added projects as integral components of the State's agenda, with the objective of accelerating their implementation across various regions.
Bouden mentioned the potential adoption of the PPP principle for infrastructure projects, aiming to harness the immense innovation potential of young entrepreneurs and leverage the private sector's expertise in financing. This strategic shift aims to transition from a fragile development model vulnerable to external shocks to a globally sustainable prosperity that unites the public and private sectors.
Infrastructure development is crucial in boosting investments, fostering business creation, creating employment opportunities, and enhancing citizens' quality of life, she noted.
However, achieving these goals requires the mobilisation of substantial financial resources for constructing bridges, and road networks, establishing equipped ports, developing towns and economic zones, and strengthening energy infrastructures to ensure the success of the energy transition and the shift towards a green economy.
The PM acknowledged the existing disparities between the budgets allocated to infrastructure development in African countries and the escalating infrastructure needs, underscoring the limited manoeuvrability of governments in terms of investment support. She advocated for governments to choose between accumulating more debt and exploring alternative approaches that enable diversification of funding sources for public projects. Public-Private Partnerships (PPPs), aside from their economic efficiency, offer the added benefit of expediting project completion.
Source: Agence Tunis Afrique Presse