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Principles of public‐private partnership financing – Polish experience

Anna Wojewnik‐Filipkowska (Investment & Real Estate, University of Gdansk, Sopot, Poland)
Dariusz Trojanowski (Investment & Real Estate, University of Gdansk, Sopot, Poland)

Journal of Property Investment & Finance

ISSN: 1463-578X

Article publication date: 5 July 2013




Public‐private partnerships (PPP) are contractual relationships influenced by different legal traditions. The main purpose of the paper is to provide insight into the principles of PPP financing and the impact of two legal provisions in Poland.


Appropriate regulation and documentation were investigated. Discounted subsidies, internal rate of return (IRR), economic internal rate of return (EIRR) were calculated and risk was analysed for three variants of a selected case study.


The two PPP‐related legal provisions are well‐suited for cooperation, although they do not generally correlate. Partnership is just one of the available modes of cooperation; therefore, a complete financial and economic analysis should be performed to prove value for money.

Research limitations/implications

The paper was limited to one case study in three variants. Additional cases can be studied to confirm the findings and increase the usefulness of the methodological framework and improve its application.

Practical implications

The interrelation of the two PPP‐related legal provisions is useful for public managers searching for partners and private investors looking for opportunities. Since the proposed framework supports assessing investment advantages from the perspective of the two provisions, it supports decision makers. The experience of the Polish market also may support development of public‐private partnerships in other countries.


The two PPP‐related legal provisions are compared to determine which provides the optimal method for management of PPPs. Studying both successful and abandoned projects can help towards better management and understanding of PPPs. The work is novel providing insights into PPP financing from a legal perspective and addressed financial consequences.



Wojewnik‐Filipkowska, A. and Trojanowski, D. (2013), "Principles of public‐private partnership financing – Polish experience", Journal of Property Investment & Finance, Vol. 31 No. 4, pp. 329-344.



Emerald Group Publishing Limited

Copyright © 2013, Emerald Group Publishing Limited

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