Public Private Partnership Act, 2014
An Act providing the framework for public-private partnerships in Sierra Leone and establishing arrangements to develop and manage PPP projects.
Summary
The Public Private Partnership Act, 2014 provides the legal framework for public-private partnerships (PPPs) in Sierra Leone — arrangements in which the private sector finances, builds and/or operates public infrastructure and services. It aims to attract private investment into infrastructure in a transparent and well-governed way.
The Act provides for a PPP unit or body to develop, approve and oversee PPP projects, the processes for identifying, appraising, procuring and contracting PPPs, the safeguards for value for money, competition and risk allocation, and the monitoring of PPP agreements. It provides institutional and procedural certainty for both the Government and private investors. It built on the earlier Public Private Partnership legislation of 2010.
Main provisions
- Provides the framework for public-private partnerships.
- Provides for a PPP unit or body to develop and oversee projects.
- Sets the process for identifying, appraising and procuring PPPs.
- Provides safeguards for value for money, competition and risk allocation.
- Provides for the monitoring of PPP agreements.
- Builds on the earlier PPP legislation of 2010.