Promoting Sustainable Public-Private Partnerships Program (Subprogram 1)

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The proposed program supports the Government of Pakistan's efforts to promote sustainable, broad-based, and inclusive economic growth. The core objective of the program is to strengthen the governance framework and enabling environment for publicprivate partnerships (PPPs) at the federal government level by strengthening the (i) policy, legal, and institutional frameworks for public investment management and public financial management in connection with PPPs; and (ii) national and sectoral infrastructure planning and PPP project preparation. The program is designed as a policy-based loan with a programmatic approach and two subprograms. Subprogram 1 aims to improve the policies, laws, and institutional capacity that provide the foundation for creating an enabling environment for PPPs. Subprogram 2 will build on these foundational actions to operationalize the PPP framework and, ultimately, prepare a sustainable pipeline of well-structured and fiscally prudent PPP projects. The program was requested by the Government of Pakistan as a policy-based lending modality to be disbursed over two subprograms. The PBL will facilitate the design and implementation of reforms that are necessary to create an enabling environment for PPPs. The programmatic approach will serve to chronologically sequence the reforms in a multiyear framework (2022-2024) and bring flexibility to incorporate changes as warranted by the country's economic situation.