Key Projects of Trinidad and Tobago
School building and medical plans to act as pilot projects for the islands
In 2013 the Multilateral Investment Fund (MIF), in collaboration with the government, began plans to pilot a public–private partnership in the health and education sectors. The initiative aims to provide ten pre-schools and primary schools and three imaging and laboratory diagnostic centres on the islands. This initiative will be funded jointly by: US$864,000 financial support and assistance from the MIF; $500,000 financial support from Compete Caribbean; and $450,000 in resources from the Inter-American Development Bank. It is hoped that successful completion of these pilot projects will create an effective public–private partnership model for the construction of wider ranging infrastructure in the future.
The expansion of the energy sector has created a dual economy whereby the energy sector provides increased financial support for the government and, by extension, the rest of the economy, but the non-energy sector has had little opportunity to grow. The Compete Caribbean Private Sector Assessment Report suggests that to rectify this it is important for Trinidad and Tobago to continue to attract private-sector investment for the energy sector and beyond. In August 2011 the Investments Division of the Ministry of Finance and the Economy established a PPP Unit as part of an initiative to promote public–private partnerships for infrastructure in Trinidad and Tobago. The National PPP Policy was approved in May 2012. A framework for the development and implementation of projects was developed with a PPP Ministerial Committee established to oversee such projects.
The Trinidad and Tobago Housing Development Corporation (HDC) is an Agency of the Ministry of Housing, Land and Marine Affairs and was created by Act No. 24 of 2005. The functions of the HDC include the stimulation of private sector activities in home construction.