Proceedings of the 14th Meeting of the
Transport and Communications Working Group
16
design, construction and operation risks as well as the PPP performance. Follow up and
monitoring of risk allocation should be performed throughout the duration of the contract.
 End of contract (follow up). A database of PPP projects had been set up by the PPP unit. The
updating of this database has been however discontinued and does not include initiatives
under the responsibility of the Aqaba Development Corporation.
The Queen Alia International Airport (QAIA) PPP project was described that was commented as
relevant for the management of financial credit risks:
 First opened in 1983, at the beginning of the years 2000s the airport needed capacity
expansion. A 25-years BOT PPPwas awarded in 2007 to the consortiumAirport International
Group (AIG). The Government involved the World Bank and the International Finance
Corporation (IFC) as advisors in the process. The financing of the project was entirely under
the responsibility of the contractor. IFC, international banks and the Islamic Development
Bank contributed to the financing of the project. IFC provided a USD 120 million loan to the
contractor and supported arrangements for an additional USD 180 million loan from
commercial banks. Further support was offered by the Islamic Development Bank through a
USD 100 million loan. IFC involvement was instrumental for reducing risk perception and
increase investment attraction thus mitigating financial credit risks. Still, nowadays
International Funding Institutions (IFIs) and multilateral banks continue financing the
further expansion of the airport.
Case study Turkey
According to interviews with the Turkish authorities, a total of 38 PPP transport projects is
active in the country. Out of 38 initiatives, 30 are BOT projects and include construction works,
whereas 8 are Transfer of Operating Rights projects in the airport sector. Of the 30 projects
including construction works, 9 relate to road infrastructure (1 tunnel and 1 bridge also
including rail facilities), 18 projects related to airport infrastructure, 12 concern port marinas.
1 initiative has been also implemented in the rail sector, which relates to the Ankara High-Speed
train station. A PPP Unit has been set up within the Presidency of Strategy and Budget that is
also managing a database of PPP initiatives.
Public and private stakeholders have been interviewed as part of the case study on Turkey.
Several project examples have been also considered in the analysis, including the international
Ankara and international “Zafer” regional airports, the Osmangazi Bridge in the Izmit Bay and
the Third Bosphorus Bridge.
The following main findings and challenges were highlighted with reference to the elements of
the conceptual framework:
 Strategy and policy. PPPs are considered strategic to accelerate the delivery of projects,
reduce the financial burden of infrastructure investments on the state budget and facilitate