Thimphu, Bhutan, December 6, 2010—
IFC, a member of the World Bank Group, is working with policymakers and private sector players to help meet Bhutan’s ambitious development agenda through public-private partnerships.
IFC is conducting a series of workshops in South Asia to identify and address concerns and challenges related to public-private partnerships among stakeholders. The first workshop was held today in Thimphu, in partnership with the World Bank and the World Bank Institute and supported by Bhutan’s Ministry of Economic Affairs.
The event brought together specialists and expert speakers from around the world. It was attended by officials of ministries and public sector departments of energy, transportation, civil aviation, agriculture, water, sanitation, waste management, and private sector members and other multilateral partners. The purpose was to discuss improving quality of services in Bhutan, gaining efficiencies, and boosting economic growth through private participation in social and physical infrastructure.
“Bhutan is keen to support greater private participation through sustainable PPP models as part of our framework for private participation in infrastructure, said Dasho Sonam Tshering, Secretary, Ministry of Economic Affairs, Royal Government of Bhutan. “Our policies for economic development and foreign direct investment have helped enhance interest among domestic and foreign private investors to achieve development objectives of the 10
th
five year plan.”
The workshop highlighted benefits of public-private partnerships such as knowledge sharing, institution building, and building awareness on designing, structuring, and tendering sustainable public-private partnership projects.
“Long lasting public-private arrangements receive public ownership while generating interest among local private sector players and other development partners with shared goals,” said Laurence Carter, Director for IFC Advisory Services in Public-Private Partnerships.
The Royal Government of Bhutan is committed to making important changes to spur growth while keeping in mind the guiding principles of Gross National Happiness. Public-private partnership activity can make an important contribution to address the country’s immediate infrastructure needs and garnering needed funding for the purpose.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in developing countries. We create opportunity for people to escape poverty and improve their lives. We do so by providing financing to help businesses employ more people and supply essential services, by mobilizing capital from others, and by delivering advisory services to ensure sustainable development. In a time of global economic uncertainty, our new investments climbed to a record $18 billion in fiscal 2010. For more information, visit
www.ifc.org
.
