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IL&FS crisis may sound death knell for PPP

The default crisis that has struck IL&FS (largest Indian shadow banks), flagbearer of the public-private partnership (PPP) programme, may be the last straw for this once-promising avenue of infrastructureNSE -3.24 % development, experts and executives said, adding that the government will have to take over that role once more. The private sector’s enthusiasm for investment in infrastructure has in any case been waning for some time now, they said.

The companies whose officials are named in a corruption probe to continue work

The government will allow companies whose officials are named in a corruption probe to continue work on existing projects and to bid for new ones. “Faced with the threat of a recession in the second half of the year, the government plans to push forward with President Mauricio Macri’s $35 billion infrastructure agenda, including public private partnership projects. Dietrich delivered the message to nine banks, including HSBC and ICBC, in a meeting earlier Friday. The corruption scandal that has enveloped the country won’t halt that process, he said.”

Source: www.bloomberg.com

The Canadian Union of Public Employees set out its strategic plan for 2017-2019

The Canadian Union of Public Employees set out its strategic plan for 2017-2019 at its national convention, held in early October. “CUPE plays a leading role in fighting for high quality public services and publicly-owned infrastructure, and against privatization through new arrangements like ‘social financing,’ ‘asset recycling,’ ‘leveraging’ through selling off public utilities, and public-private partnerships. We are committed to keeping our members’ pension funds from investing in or profiting from P3s in Canada and anywhere in the world. We will continue to oppose all privatization plans, including the Canada Infrastructure Bank, an institution that will funnel millions in subsidies to corporations banking on large private profits from public infrastructure projects.”

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CSOs as equal partners in monitoring public finance

CSOs as equal partners in monitoring public finance started from 2016 with the aim to improve accountability and transparency of the public finance in targeted countries and strengthen Civil Society Organisations’ (CSOs) role and voice in monitoring the institutions’ performance in that area. Key project activities are research and monitoring, advocacy, capacity building and transfer of knowledge/practices and networking in the field of the 4 specific topics: • public debt, • public-private partnerships, • tax equity and • infrastructure projects. More about the project and our work can be found here: https://www.facebook.com/BalkanMonitoringPublicFinance/

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