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Appraising PPP Projects

49.2 Output of the Market Sounding

The market sounding exercise’s fundamental output is a general alignment between the government and the private sector during the Appraisal Phase. This can anticipate issues that reduce the market interest in the project, which otherwise would only be explicit during the more formal Procurement Phase, and it significantly reduces the risks of non-competitive procurement processes.

The market sounding also provides effective and structured feedback that inputs data into the technical requirements and the financial model, creating an opportunity to improve the project description from a financial and technical perspective.

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