Belarus Strengthening Public Investment and Public Private Partnerships : Assessment Report
Faced with a prolonged economic downturn and resulting fiscal constraints, the Government of Belarus is looking to increase the efficiency of public funds spent on public investment. As the total envelope on public capital spending is likely to sta...
| Main Author: | |
|---|---|
| Format: | Report |
| Language: | English |
| Published: |
World Bank, Washington, DC
2018
|
| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/907911542642443113/Belarus-Strengthening-Public-Investment-and-Public-Private-Partnerships-Assessment-Report http://hdl.handle.net/10986/31022 |
| id |
okr-10986-31022 |
|---|---|
| recordtype |
oai_dc |
| spelling |
okr-10986-310222021-05-25T09:20:20Z Belarus Strengthening Public Investment and Public Private Partnerships : Assessment Report World Bank PUBLIC INVESTMENT MANAGEMENT LEGAL FRAMEWORK REGULATION PROJECT APPRAISAL PUBLIC-PRIVATE PARTNERSHIPS Faced with a prolonged economic downturn and resulting fiscal constraints, the Government of Belarus is looking to increase the efficiency of public funds spent on public investment. As the total envelope on public capital spending is likely to stagnate or even decrease further in the coming years, it becomes important to increase the output for each ruble spent on infrastructure and other public investment. Several international studies point to a significant payoff from improving Public Investment Management (PIM) – the institutions, systems, and processes guidingdecisions on how to prepare and implement public investment projects. The InternationalMonetary Fund (IMF) estimates – based on a survey of the efficiency of PIM systems in a range of countries having gone through PIM assessments – suggest that an average country obtains 30 percent less output in terms of physical infrastructure for a given expenditure than the most efficient countries. Up to two-thirds of this efficiency gap could be clawed back through improved PIM institutions (IMF, 2015). At the same time, alternative modalities have developed for procuring andimplementing public investment projects through the involvement of private partners. Such Public Private Partnerships (PPPs) can in some cases increase the efficiency of project implementation and likelihood of achieving project outcomes, although attention must be devoted to properly identifying and managing significant fiscal and other project-related risks. Against this background, the Government of the Republic of Belarus (GoB) has requested the World Bank to provide technical assistance to strengthen PIM and PPPs. As a first step, this report assesses the current systems and procedures for public investment against good international practice using a diagnostic methodology developed by the World Bank and tested in a large number of countries worldwide. The analysis identifies gaps in the current system, and options for improvement are provided as a basis for further discussion and prioritization by the GoB. 2018-12-18T22:56:14Z 2018-12-18T22:56:14Z 2018-09 Report http://documents.worldbank.org/curated/en/907911542642443113/Belarus-Strengthening-Public-Investment-and-Public-Private-Partnerships-Assessment-Report http://hdl.handle.net/10986/31022 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Public Investment Review Europe and Central Asia Belarus |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
PUBLIC INVESTMENT MANAGEMENT LEGAL FRAMEWORK REGULATION PROJECT APPRAISAL PUBLIC-PRIVATE PARTNERSHIPS |
| spellingShingle |
PUBLIC INVESTMENT MANAGEMENT LEGAL FRAMEWORK REGULATION PROJECT APPRAISAL PUBLIC-PRIVATE PARTNERSHIPS World Bank Belarus Strengthening Public Investment and Public Private Partnerships : Assessment Report |
| geographic_facet |
Europe and Central Asia Belarus |
| description |
Faced with a prolonged economic downturn
and resulting fiscal constraints, the Government of Belarus
is looking to increase the efficiency of public funds spent
on public investment. As the total envelope on public
capital spending is likely to stagnate or even decrease
further in the coming years, it becomes important to
increase the output for each ruble spent on infrastructure
and other public investment. Several international studies
point to a significant payoff from improving Public
Investment Management (PIM) – the institutions, systems, and
processes guidingdecisions on how to prepare and implement
public investment projects. The InternationalMonetary Fund
(IMF) estimates – based on a survey of the efficiency of PIM
systems in a range of countries having gone through PIM
assessments – suggest that an average country obtains 30
percent less output in terms of physical infrastructure for
a given expenditure than the most efficient countries. Up to
two-thirds of this efficiency gap could be clawed back
through improved PIM institutions (IMF, 2015). At the same
time, alternative modalities have developed for procuring
andimplementing public investment projects through the
involvement of private partners. Such Public Private
Partnerships (PPPs) can in some cases increase the
efficiency of project implementation and likelihood of
achieving project outcomes, although attention must be
devoted to properly identifying and managing significant
fiscal and other project-related risks. Against this
background, the Government of the Republic of Belarus (GoB)
has requested the World Bank to provide technical assistance
to strengthen PIM and PPPs. As a first step, this report
assesses the current systems and procedures for public
investment against good international practice using a
diagnostic methodology developed by the World Bank and
tested in a large number of countries worldwide. The
analysis identifies gaps in the current system, and options
for improvement are provided as a basis for further
discussion and prioritization by the GoB. |
| format |
Report |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Belarus Strengthening Public Investment and Public Private Partnerships : Assessment Report |
| title_short |
Belarus Strengthening Public Investment and Public Private Partnerships : Assessment Report |
| title_full |
Belarus Strengthening Public Investment and Public Private Partnerships : Assessment Report |
| title_fullStr |
Belarus Strengthening Public Investment and Public Private Partnerships : Assessment Report |
| title_full_unstemmed |
Belarus Strengthening Public Investment and Public Private Partnerships : Assessment Report |
| title_sort |
belarus strengthening public investment and public private partnerships : assessment report |
| publisher |
World Bank, Washington, DC |
| publishDate |
2018 |
| url |
http://documents.worldbank.org/curated/en/907911542642443113/Belarus-Strengthening-Public-Investment-and-Public-Private-Partnerships-Assessment-Report http://hdl.handle.net/10986/31022 |
| _version_ |
1764473415238942720 |