PPP Canada launches round five of the P3 Canada Fund
On April 15, PPP Canada launched the Round Five call for proposals for the P3 Canada Fund.
Canada has become a world leader in P3 procurement and the Government of Canada is committed to supporting the further development of the Canadian P3 market by encouraging provinces, territories, First Nations and municipalities to consider the P3 model in delivering their public infrastructure priorities. As part of this commitment, PPP Canada’s focus in Round Five will be on public infrastructure projects that promote jobs and stimulate economic growth.
“Last year, we were very encouraged by the quality and viability of the applications we received,” said John McBride, CEO of PPP Canada. “Under Round Five, we will continue to look for applications that deliver optimal value for money by demonstrating substantial involvement by the private sector throughout the project’s life cycle.”
Once again, PPP Canada will give priority to public infrastructure projects in the following priority areas: transportation; water/wastewater; solid waste disposal; and brownfield redevelopment of contaminated sites. In addition, PPP Canada will give priority to projects that create optimal value for money taking into account the qualitative and quantitative factors and that include long-term financing (i.e. DBFOM)
To date, the Government of Canada has announced P3 Canada Fund commitments toward 15 P3 projects across Canada, totaling over $715 million to projects with more than $3.2 billion in capital costs. Further announcements are expected in the coming months.