DBJ committed to ensuring efficient public-private partnership transactions

DBJ committed to ensuring efficient public-private partnership transactions

Sunday, April 21, 2019

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KINGSTON, Jamaica — Manager in the Public-Private Partnership and Privatisation Division of the Development Bank of Jamaica (DBJ), Nicola Russell, says the DBJ is committed to ensuring efficient public-private partnership (PPP) transactions.

She was speaking at a JIS 'Think Tank', held last Wednesday at the agency's head office.

“The Development Bank of Jamaica is the central implementing agency for the Government of Jamaica's Public-Private Partnership and Privatisation Programme. The DBJ primarily provides transaction management and secretariat support to ministries, departments and agencies in the development of public-private partnership and privatisation transactions,” Russell explained.

She pointed out that the DBJ frequently reviews its processes to ensure efficient PPP transactions.

“Within any process or system, there are always things that can be done to improve same and to make the process more efficient. The DBJ is continually reviewing its policy and processes. We actually revised our policy in December 2017 to acknowledge the role of the Public Investment Management Secretariat (PIMSEC) in public-private partnership project transactions,” Russell noted.

She informed that the DBJ does its due diligence when conducting PPP transactions.

“We don't just look at financial viability but we look at whether the public-private partnership project is legally and technically feasible, socially and environmentally sustainable,” Russell explained.

Since 2009, the DBJ has successfully completed 24 transactions and facilitated approximately US$1.071 billion in investments, being US$262.7 million in the sale price and US$808 million in capital investments by the private sector.

“We are currently working on several public-private partnership and privatisation projects, including the Wigton Windfarm privatisation transaction, NET School Solar public-private partnership project, Rio Cobre Water Treatment Plant public-private partnership project, NWC Northern Parishes Non-Revenue Water public-private partnership project, Jamaica Mortgage Bank privatisation and JPSCo privatisation,” Russell noted.

Some of the more notable PPP project transactions conducted by the DBJ are the Norman Manley International Airport and the Kingston Container Terminal public-private partnerships.

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