Project Preparation Facility: Enabling local governments to access to private finance
Nearly 60 per cent of public infrastructure in Canada is owned by local governments—the provinces and municipalities.
Much of this infrastructure is aging and in need of replacement. Adding this to the necessity of augmenting existing infrastructure stock increases the urgency for local governments to access all possible sources of finance in addition to existing federal funding. Unfortunately, not all local governments may know how to properly apply for available private financing. IISD recommends setting up a Project Preparation Facility (PPF) to enable smaller local governments to prepare bankable infrastructure project proposals.