Public-Private Partnerships work through a long-term contract that is carried out together with the entity to which the project is applied and the private sector entity in which the investor is fully or partially responsible for the construction, exploitation, operation and maintenance of public assets, responsibly assuming any risk that may follow during execution, except with exceptions, duly regulated, that put the public interest and viability of the project at risk.
- Law 93 of 19 September 2019 and regulated on 31 December 2020.
The Public-Private Partnerships are private modalities in which experiences, knowledge, equipment, technologies, technical and financial capacities are incorporated, for the creation, development, improvement, operation and maintenance of public infraestructure for the provision of public services.
- Establish a strategy to execute the Action Plan and be an economic reactivation engine.
- Generate jobs inmediately, short and medium term.
- Plan the budget requirements of the entire governmental period.
Classification of PPPs according to their financing:
- Self-financed: Those in which all project costs are recovered with the income received by the PPP contractor in charge of providing the infrastructure or public service.
- Co-financed: Those in which, for the economic sustainability of the project during all or part of the term of the PPP contract, financial resources are required from the State.