Uncontrolled growth of ‘fake’ PPPs in Kazakhstan — what to expect?
Three local level public–private-partnership (PPP) projects are on the brink of collapse due to the relevant local state body of the Mangistau region failing to meet its obligations under the PPP agreements and to
pay on time to the respective private partners for constructed and operating kindergartens. It was alleged that the money needed for these PPP projects did not appear on the books of the local government in time, even though the respective PPP agreements, evidently, were duly executed and registered.
Author: Shaimerden Chikanayev, Partner, Head of Banking and Finance department, GRATA International.
This article was first published in Islamic Finance news Volume 16 Issue 17 dated the 1st May 2019.