UNCITRAL Draft Legislative Guide on Privately Financed Infrastructure: Achievement and Prospects

Abstract

This Article details the work of the Commission on the subject of privately financed infrastructure (PFI), often called BOT. The Commission is expected to adopt its legislative guide on PFI at its plenary session in June-July in New York. Although there is something of a slow down in PFI projects at the present time, because of the recent Asian and other financial crises, the need for them remains great, as does the need for governments in the developing countries to have a legislative framework to attract private finance, select project concessionaires, and manage, regulate and settle disputes with respect to such projects. The Article favorably assesses the work of the Commission, but suggests that a final product in the nature of a ‘model law’ would have enhanced it even more.