The Grantley Adams International Airport Inc. (GAIA Inc.) GAIA Inc. is seeking an experienced, qualified private investor to operate, manage. expand and improve operations at the Grantley Adams International Airport through a Public Private Partnership.
The ownership of the airport will always remain with the Government of Barbados. The private operator will only have the right of use to the airport assets and the right to invest and expand the airport, similar to a lease, for the length of the partnership. At the end of the PPP, the airport’s assets will return to the Government.
The International Finance Corporation (IFC), the private sector arm of the World Bank Group, is providing advisory services for the transaction. It will be an open, transparent competitive tender process. The final decision on which operator will be awarded the contract will be based on the evaluation of bids received against the criteria set by GAIA Inc./Government of Barbados. IFC will provide support in the bid evaluation process.
What is a Public-Private Partnership?
A PPP (Public-Private Partnership) is a contractual arrangement between the public and private sector, typically long term, where significant risks are transferred to the private sector. PPPs are primarily used for providing infrastructure, such as transportation systems including airports and ports, energy, water and sanitation, and the construction and outfitting of schools and hospitals.