New Law, New Opportunity: A closer look at Peru’s revised P3 framework

Historically, investors have pretty clearly found the Peruvian legal framework for procuring, awarding and monitoring concessions to be a favorable one — just since 1996, the country has awarded more than US$20bn in Public-Private Partnership concessions. But a new legislative structure for PPP financings in Peru entered into force at the end of 2015, replacing the prior legal regime and introducing some significant changes. While some commentators have reacted negatively to the new framework, it is my view that the new law is modern, progressive, and provides a mature and comprehensive framework that should continue to attract private investment in Peru’s infrastructure. In an article for Project Finance International, New Peruvian Framework for PPPS, I examine the recently implemented legislation in depth, and  arrive at the conclusion that it may prove to be a very useful model for other countries in the region and around the globe. I’m looking at you, Argentina…

Photo:  Jorge Gobbi, Estación Villa El Salvador, Taken Feb. 2, 2012 – Creative Commons