P3 Canada calls applications for funding support
PPP Canada announced yesterday that it is accepting applications for its Round Six of funding public private partnerships in the country.
The new round is the first one under the renewed P3 Canada Fund. The P3 Canada Fund is a merit-based program, designed to incentivize innovation in P3s as well as encourage inexperienced governments to consider P3s in public infrastructure procurements. It is the first infrastructure funding program, anywhere in Canada, that directly targets P3 projects.
PPP Canada looks to invest in P3 projects, through the P3 Canada Fund, that are:- Well-structured and deliver Value for Money;
- Transfer substantial risks to the private sector;
- Generate public benefits; and
- Promote jobs and economic growth.
In Round six, PPP Canada will give priority to public infrastructure projects in the following priority areas: transportation; water/wastewater; and solid waste disposal. Eligible projects can receive up to 25% of the direct cost of construction supported through non-repayable contributions, repayable contributions, loans or loan guarantees.
R6 of the P3 Canada Fund opened on April 14, 2014. Interested parties must submit their application to PPP Canada on or before June 13, 2014.
John McBride, CEO of PPP Canada, stated:
Over the past five years, we have helped new jurisdictions across Canada bring a mix of large, medium and small P3s to the Canadian market. Through Round Six, we will continue to build experience through new jurisdictions, new sectors, and new approaches.
PPP Canada also works with other levels of government to promote the effective use of P3s through P3 knowledge sharing, capacity building and the strategic use of the P3 Canada Fund. By offering advice and expertise to its clients, PPP Canada ensures proper due diligence across all stages of the project development life cycle.
See announcement on the P3 Canada Fund new website:
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