Andina

WBG: Public-Private Partnerships contribute to Peru joining the OECD

Centro financiero de San Isidro en Lima. Foto[ ANDINA / Héctor Vinces.

14:45 | Lima, Dec. 20.

Peru’s efforts aimed at regulating and boosting Public-Private Partnerships (PPP) development "contributes a lot" to its future entry into the Organization for Economic Co-operation and Development (OECD), Senior Transport Economist at World Bank Group (WBG) Lincoln Flor indicated.

"This work between private and public entities helps a lot in this sense, since legislation must be capable of attracting and providing confidence to private investment; that's one of the basic requirements […],” he told Andina news agency.

If Peru becomes an OECD full member, the country will achieve a "better shielded legislation."

"The probabilities for an administration to change legislation will be very few. Thus, it helps a lot, since investors will be sure PPP regulation will last over a long period of time [...]," he underlined.

In this sense, risk reduction will be one of the advantages from joining the organization.

As is known, the OECD's Country Programme aims to enhance the institutional framework to ensure economic development along with social inclusion, as well as support dynamic, emerging economies such as Peru's.

It must be noted this organization gathers 34 member-States which account for 80% of the world's Gross Domestic Product (GDP).

(END) JCC/JCC/HMC/MVB

Published: 12/20/2015