Stakeholders from region and beyond meet to discuss PPPs

OVER 150 Caribbean leaders and government and private sector officials, investors, representatives of the banking, engineering, legal and other sectors recently gathered in Nassau, The Bahamas to discuss a variety of issues surrounding public-private partnerships (PPPs).

CIBC FirstCaribbean International Bank hosted the conference on the topic of “Public-Private Partnerships in Infrastructure Development and Financing” in light of its growing presence as a major player in this area. Over the past three years, the bank has arranged, co-arranged or participated in over $2 billion in financing of Caribbean corporate and sovereigns, said the CIBC FirstCaribbean in a statement issued just ahead of the conference, which began last week Thursday and concluded on Friday, June 21.

From left: Ryan Pinder, Minister of Financial Service for The
Bahamas; Barbados Minister in the Prime Minister’s Office,
Senator Darcy Boyce; and Marie Rodland-Allen, Managing
Director for The Bahamas and Turks and Caicos for event
hosts, CIBC FirstCaribbean, chat during a welcome
reception to the conference on Public-Private Partnerships
in Infrastructure Development and Financing.

From left: Christopher Brome of KPMG Barbados; Daniel Farmer,
Managing Director, Corporate Lending and Investment
Banking at CIBC FirstCaribbean; and Carl Brazarian of
Brazarian International Financial Associates.

A tightly-packed schedule saw a distinguished cadre of presenters, including Prime Minister of The Bahamas, the Rt. Hon. Perry G. Christie; and panellists that included several Ministers of Government from across the region, such as Barbados’ Minister in the Office of the Prime Minister, Senator Darcy Boyce. Senior public servants, officials from multilateral organisations and corporate leaders also presented to the delegates.

“We believe that this event brings together the right mix of government and private sector officials, investors, professionals, industry experts and of course ourselves [financiers],” remarked CIBC FirstCaribbean International Bank’s Managing Director for The Bahamas and Turks and Caicos, Marie Rodland-Allen, of the conference, which is the bank’s first foray into hosting such an event.

“CIBC recognises that it has a responsibility and duty to play an active role in fostering the types of relationships that will give birth to the levels of private and public sector arrangements that would promote economic growth in the region,” she added.

The conference was designed to promote public and private sector co-operation in generating investment opportunities and increasing the availability of capital for infrastructure development. Its focus was on “public/private partnerships and their application to Caribbean infrastructure needs, development and investment opportunities, along with infrastructure projects such as airports and seaports and social facilities related to health, education and housing”.

In Barbados, PPPs have been used for capital works projects such as the Dodds prison, and is also the intended finance strategy of the Pierhead marina and the proposed cruise terminal. (YA/PR)