Libya’s new government, the National Transitional Council (NTC), is looking at options for using public-private partnerships (PPP) to develop the country’s infrastructure after eight months of civil war.
Accountancy and advisory firm PricewaterhouseCoopers presented the NTC with a document exploring options for the use of PPP schemes for infrastructure projects in Libya in early October, according to the firm’s Middle East managing partner, Foaud Alaeddin.
“Libya needs everything,” says Alaeddin. “From transport, hospitals, power, refineries, basic infrastructure – everything. We have presented a document to the NTC to explain how to use PPP to help them look at infrastructure plans.”
For oil-rich Libya, the use of PPP is not necessitated by a shortage of financial resources, but to attract foreign investment and talent into the country, says Alaeddin. He adds that using PPP will be particularly important for Libya as it tries to build a democratic society. “PPP is open, transparent and provides an incentive to contractors to deliver the project on time and on budget, otherwise they don’t get paid.”
With the death of Muammar Gaddafi on 20 October, the NTC is expected to accelerate plans to move its base to the capital, Tripoli, begin the process of rebuilding the country and hold elections to install a democratic government.