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Model Public Private Partnership Law Was Approved During the Session of the Interparliamentary Assembly of the CIS Member Nations
On 28 November 2014 during the session of the Interparliamentary Assembly of the Commonwealth of Independent Nations (CIS) there was approved the Model Public Private Partnership Law for CIS member nations drafted upon request of the Interparliamentary Assembly by the working group comprised of scientists and practisers representing the law faculty of the Saint Petersburg State University.
Authors of the PPP Model Law tried to consider recommendations of international organisations and best public private partnership regulation practice of those countries where similar laws are adopted and effective. Experts of the European Bank of Reconstruction and Development and of some international law firms focusing on PPP took part in expert evaluation of the Model Law; they helped to tailor the said law to all the specific needs and requirements of all parties to PPP projects.
This document elaborated based on liberal eligibility guidelines and providing for a balance of interests of private and public partners and financing institutions in order to develop this concept in the CIS will allow resolving a great number of problems associated with legal regulation of PPP in Russia and other CIS member nations, however it will remain a non-binding document that may be used by any state while improving national PPP legislation.
Previously, on 26 November, the Tavricheskiy Palace, the headquarters of the Interparliamentary Assembly of Member Nations of the Commonwealth of Independent States hosted the International Conference Prospects for PPP Legal Frameworks in the CIS. Vladimir Kilinkarov, the executive secretary of the expert developers group (partner, the head of PPP of Maxima Legal) together with Elena Kilinkarova (council, the head of taxes of Maxima Legal) presented the concept and fundamental principles of the document. They believe that the CIS member nations have all favourable factors to implement public private partnership in the CIS member states, namely: high investment potential, vast territory and deficiency of budgetary funds.
Since national and foreign methods of legal regulation and structuring of PPP projects were actively adopted and thanks to a number of recommendations of international organisations such as UNCITRAL, UNIDO, ECE, UN, etc. the working group has managed to draft a comprehensive document on PPP regulation. The model law is a non-binding harmonizing document where the experts considered all legal specifics of the Commonwealth member nations which sometimes creates formidable barriers to take advantage of all public private partnership potential.
The event was attended by deputies of national parliaments of the member nations of the Commonwealth of Independent States, experts from relevant ministries and agencies, centres of development of public private partnership from CIS members states, representatives of international organisations, the European Bank of Reconstruction and Development (EBRD) and international and regional experts.
"Drafting of the model law On Public Private Partnership is a high-flying and very important step to perfect legal regulation of public private partnership in the former USSR. Today we shared our experience in the area of legislative work and implementation of public private partnership projects and exchanged views regarding the ways to apply the model law to improve legislation and practice. I am sure that the work done becomes a practically useful tool to develop the potential of the CIS member states", Vladimir Kilinkarov commented.
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