Fundamental Principles in PPP Laws: A Review of Latin America and The Caribbean
Investment in infrastructure is, without a doubt, one of the main forms of economic development. Traditionally, the Public Administration executes infrastructure projects allocating taxpayers' money to their financing. In recent decades, the demand for infrastructure has not stopped growing, but public funds for current and future needs are limited and the public finances of many governments have reached a point where long-term loans are not an option. easy option. In a recent study, GIHUB estimated the cumulative "global infrastructure need" from 2015 to 2040, and the "investment gap" for the period. It would take 94 billion dollars in investments and the gap is 15 billion dollars. This has led governments to accept the growing importance of private sector participation in the financing and management of infrastructure projects, which is why they began to look for alternative contracting methods.