Open AccessDeveloping public-private partnership initiatives in the Middle East and North Africa: From public debt to maximizing finance for development
Author(s) -
Rabah Arezki,
Ferid Belhaj
Publication year - 2020
Publication title -
journal of infrastructure, policy and development
Language(s) - English
Resource type - Journals
eISSN - 2572-7931
pISSN - 2572-7923
DOI - 10.24294/jipd.v4i1.1167
Subject(s) - general partnership , finance , debt , public–private partnership , context (archaeology) , public finance , state (computer science) , developing country , business , private finance initiative , project finance , private sector , economic growth , economics , macroeconomics , paleontology , algorithm , computer science , biology
This paper argues for a novel approach to financing infrastructure needs in Arab countries. It first describes the context of rising public debt in the region, contrasting it with the vast infrastructure needs. It then discusses the challenges in meeting these needs with traditional financing. The paper then makes the case for maximizing finance for development by using public-private partnerships and presents a few successful examples in Arab countries. Finally, the paper explores the way forward and concludes on the need for strong state capacity and integrity to promote the “maximizing finance for development” approach.