Apostolos Georgiades & Associates - Public Private Partnerships

PUBLIC PRIVATE PARTNERSHIPS

A new legal framework enacted in Greece

Public private partnerships (PPPs) is a generic term, which stands for contractual arrangements between public bodies and private sector entities aiming at the provision of public infrastructure or services. These partnerships are built on the expertise of each partner that best meets clearly defined public needs through the most appropriate allocation of resources, risks and rewards. In PPPs the public sector maintains an oversight and quality assessment role while the private sector is more closely involved in actually delivering the project or service. The reasons for establishing such partnerships vary but generally involve the financing, design, construction, operation and maintenance of public infrastructure or services

Until recently, there was no legislative framework for the regulation of PPPs in Greece. Despite that, in the past some major public works had already been implemented by means of a PPP contract between the State and private initiative. Nevertheless, due to the fact that the provisions of these partnerships diverged essentially from the Greek legislation on public works in force at that time, all relevant PPP contracts had then to be ratified by Law.

Law 3389/2005 introduced a complete legislative framework for the regulation of PPPs in the Greek legal order. Consequently, from now on there is no need of special Laws ratifying each time the provisions of every single PPP contract. The new Law, however, has not been yet practically tested, since only few PPP projects have been approved by the competent Authority for the time being and their implementation has not yet begun. [...]

Please click on the icon to view the full text document in a new window

Disclaimer