Argentina

Argentina maintains parallel PPP and concessions frameworks under Law 27,328 (2016) and Law 17,520 (1967), respectively. Although governed by separate contractual rules, their overlapping scope allows similar infrastructure projects to be developed under either regime.^1,2,3 The current administration (2023 to present) has strengthened the concessions framework through Law 27,742 (2024), which expanded its scope and required public tendering.⁴ Decree 713 (2024) also introduced a broader private-initiative regime covering several contracting frameworks, including the PPP law.⁵ Dedicated PPP capacity remains limited following successive institutional reorganizations.⁶ The Cabinet Office retains formal PPP oversight and technical-support functions, while the Ministry of Economy and relevant sectoral agencies manage infrastructure concession development, procurement and supervision.^7,8

Argentina’s recent PPP-related investment record has been concentrated in renewable-energy and power projects, many of which were developed under sectoral electricity frameworks rather than the dedicated PPP law, Law 27,328 (2016).⁹ The country’s clearest transport PPP activity came from the 2018 road corridor program, the contracts for which were terminated in 2020 by the former administration (2019-23).¹⁰ Since the current administration took office in 2023, market activity has shifted toward road concessions. The Red Federal de Concesiones covers more than 9,000 km of national roads, with multiple contracts awarded and operations beginning in 2026.¹¹ A new electricity-transmission concessions program has also been launched.¹² These developments signal a tangible revival of PPP-type private participation primarily through the concessions regime.¹³

Political support for PPP-type infrastructure partnerships has strengthened under the current administration (2023 to present), reflecting a significant shift from the previous government’s approach to PPPs.¹⁴ Although the 2024 concessions reforms received support from several political parties, evidence of sustained multiparty commitment remains limited.¹⁵ The current concessions agenda has also faced opposition from road-sector unions and user organizations, particularly over the expansion of private operation and tolls.^16,17,18 While the government’s initiatives demonstrate a commitment to private infrastructure delivery, it has largely favored the concessions regime rather than the dedicated PPP law. Maintaining momentum will depend on broader political consensus and institutional continuity.

Argentina performs best comparatively in the project preparation and sustainability category, where it ranks 11th. Project selection processes are relatively robust across needs assessment, cost-benefit analysis and fiscal affordability. The country also ranks 5th for environmental and social sustainability, supported by strong climate regulatory criteria and social-equitability provisions around employment and participation by small businesses. Risk allocation ranks 6th, supported by clear provisions for allocating risks, protecting lenders and providing government guarantees.¹⁹

Argentina’s main weaknesses are institutional and operational. Regulations and institutions ranks 17th, despite a solid legal foundation, reflecting particularly low dedicated PPP-agency capacity, weak inter-agency coordination and somewhat limited political consensus. Project preparation facilities remain absent, and access to capital ranks 22nd, driven by high capital costs. National monitoring and reporting ranks 19th, with gaps in pre-operational monitoring and public reporting, while disaster-risk management and ex-post evaluation also remain underdeveloped.

Argentina’s most notable progress has been renewed high-level political support for private participation, reversing the direction of the previous administration. Financing conditions have also strengthened somewhat, with notable improvements in country risk and the overall market environment. However, Argentina’s overall index score has risen only slightly, from 43.0 to 43.6, as dedicated PPP capacity, project-preparation support and monitoring arrangements remain largely unchanged, while the loss of an active PPP registry has weakened transparency.