Private Investment Promotion Agency (ProInversion) on Wednesday said Public Private Partnerships' (PPP) new legal framework will result in a faster and more effective reconstruction of disaster-hit northern Peru.
"In fact, as ProInversion we are urged to move forward and make PPP processes more efficient to secure future reconstruction [in northern Peru] more rapidly and effectively," ProInversion Executive Director Alvaro Quijandria told Andina news agency.
Caused by heavy floods and overflowing rivers in the north, the situation represents an opportunity to invest in well-designed infrastructure projects.
"Reconstruction itself is an opportunity to develop better designed projects, and processing initiatives under the new PPP scheme —which is notably faster and safer— will prove favorable, when necessary," he pointed out.
Likewise, the new legal framework leaves less room for (corruption) cases like the ones previously reported.
According to Quijandria, reconstruction might alter the PPP project portfolio managed by ProInversion, estimated at more than US$15 billion for the 2017-2018 period.
"Such portfolio can be updated every time concession issuers, sectors, and regional governments show their interest in developing projects via PPP, and this can be the case," he said.
Last week, ProInversion announced the start of a project portfolio to rebuild rain- and flood-damaged infrastructure in northern Peru.
Moreover, the agency presented the current portfolio of investments via PPP for 2017-2018, which comprises 31 projects worth around US$15.3 billion.
The 31 projects have been unfolded in different sectors: Transport (10), energy (9), water (5), real-estate (3), telecommunications (2), mining (1) and health (1).