EBRD enters the “arsenal” of Greek PPP projects and takes them to another level

Another important step for the further internationalization of PPP projects is made by the Ministry of Development and Investments through the General Secretariat of Strategic Investments and PPPs which are now reinforced by the EBRD.

A bill introduced this morning in the Parliament to be voted by the Ministry stipulates that the General Secretariat will henceforth be able to cooperate with the European Bank for Reconstruction and Development in terms of technical assistance for the preparation of PPP projects.

This is a strategic move as with this provision the General Secretariat of PPPs, acquires a very strong tool for the next projects since the EBRD will undertake the maturation and supervision of the projects giving international prestige to the already upgraded and award-winning production process of PPPs.

It is considered that this move will save valuable time during the tender process, since the EBRD undertakes to conduct tenders for engineering consultants based on its own criteria, while the supervision of projects will ensure that they will be implemented with the strictest standards.

This cooperation will be able to start as early as next September, since the plan is currently under preparation. The contract will be signed by the Minister of Development and Investments, Adonis Georgiadis and will be implemented by the General Secretary of Strategiv Investments and PPPs, Nikos Mantzoufas.

An international message

According to information of ypodomes.com, the idea for this preparation facility started after the participation of the EBRD in the PPP project for Athens Medical Center. The aim is to mobilize consultants under the auspices of the EBRD. The international standards and the prestige of the organization will guarantee transparent and high level procedures on a permanent basis for the PPPs.

At the same time a double message is sent. The first is for the public bodies that target the partnership projects that there is an internationally renowned organization available that will complete the whole process, from its maturation to the auction and the monitoring of the project.

The second message is both to domestic and international investors. Our country has been awarded many times in the past for the good practices it applies in tenders for PPP projects and the last time was just a month ago when it was ranked second in the world by the Global Infrastructure Hub, a G20 body. Now, this development comes to confirm this recognition with a top collaboration.

Sources of the market comment at ypodomes.com that this is a unique agreement that takes PPP projects to another level, which are constantly entering into larger, more complex projects and now have the need to secure the entire process. They also note that such a partnership will be able to attract new players from the international investment community.

It is worth noting that the internationalization of the implementation process of the PPP projects is ensured with the cooperation of the EBRD itself, since its shareholders are the European Commission, the EIB but also leading countries such as the USA, Japan, etc.