In order to provide guarantees to private partners on the payment of consideration by the public partner, within the framework of the Public Partnerships program, the State of Espírito Santo has regulated the public-Private Partnerships guarantee Fund (FGP- ES), with initial input of R $20 million. The FGP-ES was created by complementary Law No. 492, of August 10, 2009.
With its definitive regulation and the consistent integralization of the initial contribution, the State aims to confer to the private partner the legal certainty that the values owed by the public partner will be paid, strengthening and fostering the business environment Regional. This mechanism was structured based on the studies carried out by the State Treasury on the best practices and guarantee mechanisms existing in Brazilian legal order.
The FGP-ES will be administered and managed by the Development Bank of Espírito Santo State-BANDES. Among the sources that can integrate the FGP-ES are foreseen the resources of the State Treasury, the resources of internal and external credit operations and the resources of royalties, special participations and other revenues arising from the exploration of oil and gas Natural, among others.
Publication of the Official Gazette, on May 30, 2019, with Decree 4443-2019 (FGP Regulation) and Decree 4444-2019 (Procedures)