UNCITRAL Legislative Guide on Privately Financed Infrastructure Projects
- Type: Convention
- Date of signature: 09/12/2003
- Place of signature: New York, USA
- Depositary: The United Nations Commission on International Trade Law (UNCITRAL)
- Date of entry into force: N/A
What is it about?
The purpose of these legislative recommendations and model provisions is to assist in the establishment of a legal framework favourable to private investment in public infrastructure. The advice provided aims at achieving a balance between the desire to facilitate and encourage private participation in infrastructure projects, on the one hand, and various public interest concerns of the host country, on the other. The legislative recommendations and the model provisions consist of a set of core provisions dealing with matters that deserve attention in legislation specifically concerned with privately financed infrastructure projects. The model provisions are designed to be implemented and supplemented by the issuance of regulations providing further details. Areas more suitably addressed by regulations rather than statutes are identified accordingly. Moreover, the successful implementation of privately financed infrastructure projects typically requires various measures beyond the establishment of an appropriate legislative framework, such as adequate administrative structures and practices, organizational capability, technical, legal and financial expertise, appropriate human and financial resources and economic stability.
Why is it relevant?
The legislative recommendations and model provisions are of assistance to States, in particular developing countries in promoting good governance and establishing an appropriate legislative framework for such projects.