|Program Description||-Establishing a central unit to organize the private sector's participation in financing and operating infrastructure facilities removing institutional obstacles. This unit will aim to:|
• Create the State's unified vision for organizing private involvement in infrastructure projects.
• Create mechanisms and provide qualified technical, financial and administrative staff to organize private investments in public facilities and infrastructure projects through different stages.
• Support and promote private investments in infrastructure facilities.
• Support economic development.
• Support the structural reform of infrastructure facilities.
The goals of this unit as previously mentioned are highly related to promoting and supporting private investments in infrastructure facilities, extending private ownership and administration and undertaking structural reform of public facilities. To achieve those, the body will be assigned to:
• Enforce the terms of the contract, protect consumers from monopolistic behavior and ensure acceptable service and compliance with environmental standards.
• Prioritize infrastructure projects according to the development plan, finance resources and social and economic needs.
• Prepare social and economic feasibility studies for projects. This should be in co-operation with the relevant sectors and institutions to determine finance options and modes of participation. These studies should be made available to investor enquiries and updated regularly by professional consultants. Costs related to this study can be recovered from investors if they take their decision to invest.
• Prepare forms and guides for private investments in infrastructure facilities.
• Prepare the terms and conditions to offer projects for pre-qualification and bids.
• Set guidelines for technical, financial and commercial evaluations.
• Prepare contract and agreement forms of private involvement, according to existing international codes.
• Coordinate with relevant supervisory bodies in different sectors to ensure progress and performance of facilities, according to current economic and administrative regulations and practices.
• Market project offerings locally and internationally.
• Enforce the finance and credit enhancement mechanisms of infrastructure projects.
• Coordinate and cooperate with international agencies such as International Finance Corporation (IFC), Multilateral Investment Guaranteeing Agency (MIGA) for technical and financial assistance.