Romanian Govt. changes public-private partnership rules

Romania’s Government approved yesterday the new rules for the public-private partnership through an emergency ordinance. The new regulation introduces the Value for Money concept according to good international practice. This reflects the difference in cost estimation over the entire duration of the project, adjusted by the risk costs. The bill also provides the necessary steps in assessing a project, namely how this should be classified in the public sector. If a project is classified on-budget, it will be managed by the central public administration only after approval by the Government through a Memorandum. In the case of local projects, these need to be approved by the Commission for authorization of public-private partnership contracts at the local level. This commission will be established through a Government Decision.       Source: romania-insider