Cowen seeks to speed up PPP projects

THE CABINET has given the go-ahead for a plan to inject €3.6 billion of private funding in key investment projects to speed up the completion of schools, health facilities and other investment projects over the next four years.

Finance Minister Brian Cowen confirmed yesterday that this initiative is aimed at the speedy delivery of Public Private Partnerships (PPP) for key projects.

A PPP project is where the private sector designs, builds, finances and runs major projects for 25 years and the State repays them the cost over that period.