Caribbean Infrastructure, Government & Healthcare Credentials - January 2020 Infrastructure, Government & Healthcare www.kpmg.com/infrastructure

 
Caribbean Infrastructure, Government & Healthcare Credentials - January 2020 Infrastructure, Government & Healthcare www.kpmg.com/infrastructure
Caribbean
Infrastructure,
Government &
Healthcare Credentials

January 2020

Infrastructure, Government & Healthcare

www.kpmg.com/infrastructure
Caribbean Infrastructure, Government & Healthcare Credentials - January 2020 Infrastructure, Government & Healthcare www.kpmg.com/infrastructure
Contents
Power and water.....................................................................3
Energy infrastructure............................................................................ 4
Bermuda water and wastewater treatment.......................................... 5
Rio Cobre water treatment plant P3..................................................... 6
Bahamas energy sector reform............................................................ 7
Solid waste management in the Cayman Islands................................ 8
Utility Company procurement function................................................. 9

Health is wealth.................................................................... 11
National Health Fund expansion..........................................................12
Hospital redevelopment Phase 1.........................................................13
Cayman mental health facility............................................................. 16
Bahamas National Health Insurance....................................................17
Trinidad and Tobago hospital redevelopment..................................... 18
Acute care clinical services improvement.......................................... 19
Bermuda Health Council/Ministry of Health....................................... 20
Hospital redevelopment P3, Bermuda............................................... 21

Climate action and infrastructure......................................23
Kingston dock yard project................................................................. 24
Arawak shipping port.......................................................................... 25
Airport financing in Barbados............................................................. 26
L. F. Wade (Bermuda) International Airport redevelopment P3......... 27
Cruise ship ports................................................................................. 29

A better future...................................................................... 31
Economic impact studies.................................................................... 32
35th America’s Cup............................................................................ 33
John Gray High School in the Cayman Islands................................... 34
Social care and assistance programs.................................................. 35

Good governance..................................................................37
Bermuda tax reform............................................................................ 38
Ministry of Tourism intelligent character recognition......................... 39
Securities Commission of The Bahamas supervision platform......... 40
Government reform.............................................................................41
Immigration process improvement..................................................... 43
EU Economic Substance regulations implementation....................... 44
EU Economic Substance compliance platform.................................. 45
National Anti-Money Laundering Policy............................................. 46
Caribbean Infrastructure, Government & Healthcare Credentials - January 2020 Infrastructure, Government & Healthcare www.kpmg.com/infrastructure
2020 KPMG International Cooperative (“KPMG International”). KPMG International provides no client services and is a Swiss entity with which the independent member firms of the KPMG
network are affiliated. All rights reserved.
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1    Caribbean Infrastructure, Government & Healthcare credentials

Introduction
Around the world, government
and public sector organizations are
facing a multitude of pressures from
fiscal sustainability to deteriorating
infrastructure, impact of climate
change and public pressure
to deliver quality healthcare to
aging populations.

How governments choose to address these challenges
impact every part of a country’s economy. KPMG’s
Global Infrastructure, Government and Healthcare
practices work to deliver meaningful results through a
                                                                                                                   Cayman Islands
deep understanding of issues, an intimate appreciation
                                                                                           Solid waste management in the Cayman Islands
of how the public sector works, and global and local                                                         Cayman mental health facility
insight into the cultural, social and political environment.                                                             George Town port
KPMG is a leader in the provision of a broad range of                                                               John Gray High School
Infrastructure, Government and Healthcare advisory                                             Modernization of social assistance programs
services with practical, hands-on local experience
to help our clients implement transformational
strategies, economically, efficiently and effectively.

KPMG compiled this selection of regional case studies
to illustrate how island governments are confronting 21st
century challenges with bold and innovative approaches.

Simon Towned
Head of Advisory
KPMG Islands Group

              2020 KPMG International Cooperative (“KPMG International”). KPMG
              International provides no client services and is a Swiss entity with which
              the independent member firms of the KPMG network are affiliated. All
              rights reserved.
Caribbean Infrastructure, Government & Healthcare Credentials - January 2020 Infrastructure, Government & Healthcare www.kpmg.com/infrastructure
Caribbean Infrastructure, Government & Healthcare credentials                          2

                                                                 Bermuda

                                                                 Water and wastewater treatment
                                                                 Hospital redevelopment P3, Bermuda
Bahamas                                                          L. F. Wade (Bermuda) International Airport redevelopment P3
                                                                 35th America’s Cup
Energy sector reform                                             Tax reform
National Health Insurance                                        Immigration process improvement
Arawak shipping port                                             EU Economic Substance regulations implementation
Nassau cruise port expansion
Ministry of Tourism intelligent character recognition
Securities Commission supervision platform                                                                                             UK Channel Islands

                                                                                                                                       EU economic substance
                                                                                                                                       compliance platform

                                                                                                                                                            Antigua and
                                                                                                                                                            Barbuda
                                                                                            British Virgin Islands
                                                                                                                                                            Port of St. John’s
                                                                                         Pier and landslide development
                                                                                                Government HR analysis

     Jamaica
    Rio Cobre water treatment plant P3
    Micro-LNG receiving terminal
    National Health Fund expansion
    Hospital redevelopment Phase 1
    Kingston dock yard project                                                                                                               St. Lucia
                                                                                                              Assessing port development options

                                                                                                                                                            Barbados
                                                                                                                                               Barbados oil terminal
                                                                                                                                          Airport financing Barbados
                                                                                                                               Ports strategy and business planning

                                                                                                                   Trinidad & Tobago
                                                                                                          T&T hospital redevelopment
                                                                                Ministry of Public Administration change management

    2020 KPMG International Cooperative (“KPMG International”). KPMG International provides no client services and is a Swiss entity with which the independent member firms of the KPMG
    network are affiliated. All rights reserved.
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3   Caribbean Infrastructure, Government & Healthcare credentials

Power
and water
Our day to day lives would be
impossible without water and energy.

             2020 KPMG International Cooperative (“KPMG International”). KPMG
             International provides no client services and is a Swiss entity with which
             the independent member firms of the KPMG network are affiliated. All
             rights reserved.
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Caribbean Infrastructure, Government & Healthcare credentials                    4

Energy
infrastructure
A selection of credentials:
Barbados oil terminal – valuation and strategic
sale advice
•     Barbados National Oil Company considered fully divesting
      its shares in the Barbados National Terminal Company
      Limited, (“the Terminal Company”) in line with the Barbados
      Government’s fiscal prudence plan. KPMG in Barbados was
      engaged to advise on this strategic transaction.
•     KPMG in Barbados assisted with preparation of a
      comprehensive valuation of the Terminal Company and
      managed the sales process, including: preparing a teaser
      document, information memorandum for interested parties,
      setting up and managing the data room, and facilitating the
      buyer due diligence process. At the end of the sale process,
      KPMG in Barbados presented the Terminal Company’s Board
      with final offers, a comparative analysis and helped negotiate
      the Sale and Purchase Agreement.

Jamaica Micro-LNG receiving terminal –
business valuation
•     Located at Berth #1, in the Port of Jamaica, Montego
      Freeport, the project consisted of the installation of a
      purpose-built Micro-LNG Receiving Terminal to receive, store,
      and regasify LNG.
•     KPMG in Jamaica performed a valuation of certain tangible
      assets required to assist the client in securing of financing
      from National Commercial Bank Jamaica Limited. The
      tangible assets identified for valuation included land;
      buildings; the receiving terminal; the regasification facility;
      and natural gas pipeline.
•     The valuation report was completed within client timelines
      and assisted the client in securing financing from National
      Commercial Bank Jamaica Limited. The facility has been
      commissioned and is currently delivering fuel to the Bogue
      power plant.

2020 KPMG International Cooperative (“KPMG International”). KPMG International provides
no client services and is a Swiss entity with which the independent member firms of the
KPMG network are affiliated. All rights reserved.
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5    Caribbean Infrastructure, Government & Healthcare credentials

Bermuda water
and wastewater
treatment
Financial feasibility study

Context                                                   KPMG’s role                                          Outcome
The Government of Bermuda completed                                                                            •   Indicative consumer rates were
                                                                              Advised on the financial
the development of a strategy for                                                                                  developed using traditional and
                                                                              feasibility of the proposed
Sustainable Water and Wastewater                                                                                   P3 financing approaches.
                                                                              plan to integrate the
Servicing for St. George’s Parish. The                                        activities of supplying water,   •   The public engagement
strategy document examined the                                                wastewater collection                process assisted in assessing
treatment and distribution of potable                                         and treatment in St.                 consumers’ views on the
water, the collection and treatment of                                        George’s Parish.                     indicative rate structure
wastewater and the practical reuse of the                                                                          which will inform a future
treated wastewater.                                                           Assessed the financial               business case.
                                                                              implications of using            •   The plan was made available
The Bermuda Ministry of Public Works                                          traditional or P3 financing.         for the pubic to view in
engaged a consulting engineering firm                                                                              December 2017.
to evaluate the present state of water                                        Developed an indicative          •   KPMG in Bermuda suggested
infrastructure and propose an integrated                                      rate structure to illustrate         a number of options which
resource plan for a water and wastewater                                      the estimated costs to               could be explored to
servicing for St. George’s Parish as a                                        consumers of the strategy.           reduce consumer fees and
pilot. This pilot is intended to be used as                                                                        attract financing.
a roadmap to implement a similar plan
for Bermuda.

                                                                                                               Key Contacts
                                                                                                               Steve Woodward
                                                                                                               Managing Director
                                                                                                               Lori Rockhead
                                                                                                               Director

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              KPMG International provides no client services and is a Swiss
              entity with which the independent member firms of the KPMG
              network are affiliated. All rights reserved.
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Caribbean Infrastructure, Government & Healthcare credentials                          6

Rio Cobre water
treatment plant P3
Financial advisory

Context                                                       KPMG’s Role                                                         Outcome
Water supply to the major population                          KPMG in Jamaica assisted NWC                                        KPMG’s in Jamaica’s work was
centers of the Kingston Metropolitan                          management with obtaining approval                                  completed within client timelines
Area (“KMA”) has not met demand                               from the necessary government bodies                                and assisted with obtaining
due to insufficient production and                            to proceed with the project as well as                              approval from PIMSEC to proceed
systemic losses.                                              assisting NWC in its negotiations with the                          with negotiations with the Project
                                                              Project Consortium, including:                                      Consortium. KPMG in Jamaica
                                                              •      reviewing the Project Consortium’s                           also assisted NWC in negotiating
Notwithstanding National Water
                                                                     pricing model for accuracy and                               the terms of the water purchase
Commission’s (“NWC”) replacement
                                                                     consistency with the Water Purchase                          agreement with the Project
of major water treatment plants and
                                                                     Agreement (“WPA”);                                           Consortium.
various other works across Jamaica, it is
estimated that the KMA has a shortfall of                     •      reviewing WPA and providing
up to 50 MIGD (Million Imperial Gallons                              assistance with the definitions
per Day), with greater shortages during                              and sources of data used in the
the dry season.                                                      agreement;                                                  Key Contact
                                                              •      providing tax advice related to                             Raymond Campbell
                                                                     the WPA;                                                    Partner
These shortfalls are primarily the result
of 53% of the water produced being lost                       •      performing a high level affordability
before it reaches the customer.                                      analysis of the project based on the
                                                                     NWC’s methodology for developing
                                                                     a Public Sector Comparator and a
NWC determined that to increase
                                                                     Shadow Bid Model; and
supply in KMA over the medium to long
term, the following initiatives would                         •      assisting with the preparation
be implemented:                                                      of a business case submitted to
                                                                     Development Bank of Jamaica and
•     re-activation of disused wells;
                                                                     Public Investment Management
•     various non-revenue water reduction                            Secretariat (“PIMSEC”) for approval.
      projects; and
•     the procurement of the Rio Cobre,
      15 MIGD capacity, water treatment
      plant at Content, St. Catherine at an
      estimated cost of US$60 million.

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network are affiliated. All rights reserved.
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7    Caribbean Infrastructure, Government & Healthcare credentials

Bahamas energy
sector reform
Financial advisory and regulatory services

Context                                                    Outcome
Until a few years ago, electricity supply                  As part of the restructuring of
across The Bahamas was provided by the                     the energy sector, the Bahamian
Bahamas Electricity Company (“BEC”),                       Government passed new
except in Grand Bahama and a few other                     electricity legislation, appointed
isolated locations. Over the years, BEC                    an independent regulator for the
became inefficient and heavily burdened                    sector, and established a new
with debt, resulting in a high of electricity              electricity utility for The Bahamas,
to the consumer.                                           which continues to be owned
                                                           100% by the Government. A new
                                                           financing structure is being
BEC is also completely reliant on fossil
                                                           implemented in 2020.
fuel generation with no renewable
energy production in the energy mix.
The Government of the Commonwealth of                      A business plan was developed for
The Bahamas embarked on a restructuring                    the new utility, Bahamas Power
of the energy sector with the goal of                      and Light Company Ltd. (“BPL”),
dramatically reducing the cost of energy to                which called for a complete
the consumer while developing a reliable,                  restructuring of the energy mix and
cost effective, secure and environmentally                 operations of the former BEC, and
responsible energy sector.                                 includes a significant renewable
                                                           energy component across the
KPMG’s role                                                many islands in which the utility
                                                           operates. BPL has responsibility for
KPMG in The Bahamas acted as advisor
                                                           the provision of electrical supply
to the Bahamian Government in the initial
                                                           to 25 island locations across The
stage of the reform process and provided
                                                           Bahamas, providing power to
the following services:
                                                           over 100,000 customers. This
•    regulatory advice with respect to                     restructuring is ongoing, and BPL is
     new legislation;                                      in the process of replacing its base
•    advice on restructuring and related                   load plant with more efficient, multi-
     matters; and                                          fuel engines.
•    various financial modelling and other
     advisory services.                                                                             Key Contacts
                                                                                                    Simon Townend
                                                                                                    Partner
                                                                                                    Shana Lee
                                                                                                    Managing Director
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               (“KPMG International”). KPMG
               International provides no client services
               and is a Swiss entity with which the
               independent member firms of the
               KPMG network are affiliated. All rights
               reserved.
Caribbean Infrastructure, Government & Healthcare credentials                         8

                Solid waste
                management in the
                Cayman Islands
                Financial advisory and procurement assistance

                Context                                                        •    Reduce

                The Cayman Islands primarily uses a landfill                   •    Reuse
                disposal system on each of its three islands                   •    Recycle
                with the Department of Environmental                           •    Recover
                Health (“DEH”) being responsible for the
                                                                               •    Dispose
                collection of residential and commercial
                solid waste along with private haulers.
                                                                               KPMG’s role
                                                                               KPMG in the Cayman Islands was
                However, there are no franchise collection
                                                                               appointed as the financial advisor on
                contracts or service agreements in place
                                                                               the engagement supporting a team led
                between DEH and the haulers. DEH’s
                                                                               by AMEC Foster Wheeler as the lead
                solid waste revenue is largely generated
                                                                               consultant. KPMG in the Cayman Islands
                from fees on vehicle disposals and
                                                                               assisted with:
                removals, incinerations and container
                rentals as well as an annual allocation                        •      Identifying funding and financing
                from the Cayman Islands Government’s                                  options for the integrated solid waste
                (“CIG”) budget. There is limited revenue                              management strategy report.
                from recycling (most recently scrap mental                     •      Preparing the financial case portion
                sales) and no tipping fees are charged for                            of the outline business case
                landfill disposal.                                                    issued in accordance with the UK
                                                                                      Treasury’s Greenbook and Five Case
                                                                                      Model format.
                In addition to environmental concern,
                Grand Cayman’s landfill is expected to                         •      Preparing and evaluating the financial
                reach maximum capacity in approximately                               sections of the tender process.
                six years and Cayman Brac’s landfill is                               The tender was executed through
                already at capacity.                                                  a competitive dialogue process for
                                                                                      a Design-Build-Finance-Operate-
                                                                                      Maintain contract.
Key Contacts    The Challenge
Kris Beighton   The CIG has undertaken to develop and
Partner         implement a cost-neutral, environmentally                           Outcome
Ashita Shenoy   responsible, 50-year integrated solid                               The Preferred Bidder was
Director        waste management strategy based on the                              announced in 2017 and the facility is
                preferred hierarchy of:                                             scheduled to be completed in 2021.

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                entity with which the independent member firms of the KPMG network are affiliated. All rights reserved.
9    Caribbean Infrastructure, Government & Healthcare credentials

Utility Company
procurement function
Procurement policies and procedures, spend
analysis, and fuel procurement services

Context                                                                                                           Outcome
The Utility Company (“the Company”),                      Additionally, the KPMG member firm                      1.   The engagement team
sought an assessment of its procurement                   provided project management and leading                      completed the PMA and
processes to determine if its processes                   practice procurement advice for tendering                    provided a report to the
were consistent with leading practice.                    a multi-year fuel supply contract.                           Company on the, then, current
The objective of the assessment was to                                                                                 state of their procurement
identify if there were gaps which may                     KPMG’s role                                                  processes. This report also
result in achieving suboptimal value from                                                                              included discussion on leading
its procurement function.                                 The engagement team conducted a                              best practices regarding key
                                                          Procurement Maturity Assessment                              procurement function areas
                                                          (“PMA”) using methodology which                              and identified gaps between
In 2017, a KPMG member firm a was                         provides a consistent framework based                        current and leading practice.
engaged to:                                               on maturity levels for the power and utility                 The engagement team
        Report on the state of the                        industry.                                                    provided recommendations
        procurement processes and                                                                                      to close these gaps and
        share initial findings from an                    Areas of focus included:                                     enhance the Company’s
        online survey, interviews and                                                                                  procurement function.
                                                          1.    Strategy: direction setting,
        data analysis.                                          governance and meeting                            2.   As a result of the updated fuel
                                                                regulatory requirements                                supplier procurement process
        Discuss leading practices                                                                                      the Company was able to
                                                          2.    Organization: organization structure
        for key procurement function                                                                                   receive new and innovative fuel
                                                                and people
        focus areas.                                                                                                   supply options, more closely
                                                          3.    Enablers: data and technology                          aligned with their objectives.
        Discuss fit-for purpose                                 enablement of key processes;                           The Company secured
        initiatives based on leading                      4.    Processes: the existence and                           improved margins on fuel
        practices and identify the                              efficiency of support processes                        supply with resulting savings
        most practical action items for                                                                                being passed through to the
        the Company.                                                                                                   power consumers in the form
                                                          The engagement team also reviewed
                                                                                                                       of lower fuel costs.
                                                          the Request for Proposals process for
                                                          heavy and light fuel supply, assisting with             3.   The engagement team assisted
                                                          the question and answers process and                         with developing the policy and
                                                          analyzing received bids.                                     procedures for the Company’s
                                                                                                                       procurement function which
                                                                                                                       address control weaknesses.

              2020 KPMG International Cooperative (“KPMG International”). KPMG International provides no client
              services and is a Swiss entity with which the independent member firms of the KPMG network are
              affiliated. All rights reserved.
Caribbean Infrastructure, Government & Healthcare credentials                      10

2020 KPMG International Cooperative (“KPMG International”). KPMG International provides no client services and is a Swiss entity with which the independent member firms of the KPMG
network are affiliated. All rights reserved.
11   Caribbean Infrastructure, Government & Healthcare credentials

Health is
wealth
Dr. Mark Britnell’s speech at the
Caribbean Infrastructure Forum in
2018 elegantly underscored that
a healthy population translates to
greater economic prosperity.

              2020 KPMG International Cooperative (“KPMG International”). KPMG
              International provides no client services and is a Swiss entity with which
              the independent member firms of the KPMG network are affiliated. All
              rights reserved.
Caribbean Infrastructure, Government & Healthcare credentials                      12

National Health
Fund expansion
Advisory services

Context                                                       KPMG’s Role                                                         Outcome
The National Health Fund (“NHF”)                              KPMG in Jamaica provided consulting                                 KPMG in Jamaica developed an
in Jamaica was established by the                             services regarding the sustainability of the                        integrated financial model which
NHF Act, effective 1 April 2003, with                         NHF based on an expanded mandate.                                   included a range of sensitivities and
a mandate to reduce the burden of                                                                                                 scenario options. The final model
healthcare in Jamaica. It achieves this                                                                                           included pricing impacts for the
                                                              The sustainability study took into account:
objective by providing health related                                                                                             approximately 1,400 drugs on the
funding and information, and selected                                     The current coverage of chronic                         Vital, Essential and Necessary list,
healthcare benefits, thereby resulting                                    conditions, supporting drugs,                           profit and loss impacts for changes
in an improvement in the overall health                                   the current level of subsidies and                      in the three primary revenue
of the Jamaican population. The NHF                                       usage patterns.                                         sources, the subsidies provided to
is organized around five core functions;                                                                                          individuals with covered illnesses,
individual benefits, institutional benefits,                                                                                      operating costs and changes in
pharmaceutical division, Drug Serv                                        The adequacy of funding and                             pharmacy services.
division and health promotion.                                            existing reserves to meet NHF’s
                                                                          obligations in various scenarios
                                                                                                                                  The model and summary
The NHF provides a subsidy for all persons                                                                                        report was accepted by all key
residing in Jamaica, regardless of age,                                   The financial impact of the                             stakeholders and was referenced
gender and income, to assist them with                                    Pharmacy Services expansion                             in the 2017/2018 Sectoral Debate
their purchase of prescribed drugs, tests                                 project on the sustainability of                        in Parliament.
and supplies used in the management and                                   the NHF, with the addition of
treatment of 15 specific chronic illnesses.                               20 public hospitals and eight
NHF procures, warehouses and distributes                                  comprehensive health centers.
pharmaceuticals and medical supplies to                                                                                          Key Contact
21 public hospitals and 360 government                                                                                           Raymond Campbell
health centres. Additionally, the Drug Serv                               The financial impact of the
                                                                                                                                 Partner
division provides retail pharmacy services                                Public Private Partnership on the
to public and private sector clientele                                    sustainability of the NHF, with the
across 16 pharmacies.                                                     inclusion of 165 pharmacies in
                                                                          the program.
The Challenge
The NHF was mandated to increase the                                      The sustainability of the current
number of hospitals, health centers and                                   sources of funding.
pharmacies that they manage as well
as distribution of drugs to public sector
patients through private pharmacies in a
new Public Private Partnership model.

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network are affiliated. All rights reserved.
13   Caribbean Infrastructure, Government & Healthcare credentials

Hospital
redevelopment Phase 1
Financial advisory and procurement services

Context                                                                                                                       Outcome
University Hospital of the West                            UHWI and the Government of Jamaica                                 KPMG in Jamaica developed an
Indies (“UHWI”) primarily consists of                      have agreed that new contemporary                                  integrated financial model which
older buildings, some of which were                        hospital facilities are needed to respond                          included a range of sensitivities
constructed over 50 years ago and suffer                   to the modern healthcare needs of                                  and scenario options, and also
from significant deficiencies. This has led                Jamaicans and the wider region.                                    prepared a business case which
to many and varied electrical, cooling and                                                                                    was used to obtain the UHWI’s
structural maintenance issues. Ongoing                     KPMG’s Role                                                        Board approval of the project.
repairs have had minimal impact on the                                                                                        KPMG in Jamaica worked with
adequacy of the buildings and building                     KPMG in Jamaica was engaged by UHWI                                the UHWI team in understanding
systems, and the frequency and cost                        to develop a business case in order to                             the procurement options, followed
of repairs is increasing as many of the                    confirm the viability of Phase 1 of the                            by UHWI team’s selection of a
buildings and building systems have                        redevelopment project and to develop                               preferred procurement strategy
passed their useful life.                                  an analysis and comparison of potential                            and the development of a high level
                                                           procurement strategies.                                            procurement plan.

The demand for surgeries exceeds the                       The business case assessed the viability
capacity of the existing facilities resulting                                                                                 KPMG in Jamaica also assisted the
                                                           of Phase 1 of the redevelopment
in long wait times and underutilized                                                                                          UHWI team in its discussions with
                                                           project, through:
staff. Additionally, UHWI operations are                                                                                      the Jamaican Minister of Health
fragmented and the current layout does                     •     financial analysis of preliminary cash                       and Wellness on the economic and
not lend itself to seamless, efficient,                          flow estimates;                                              financial viability of the project.
synergetic relationships between                           •     qualitative assessment;
departments such as, for example,                          •     market and investor sounding; and
Accident and Emergency, Radiology and
                                                           •     development of procurement strategy
Critical Care.                                                                                                                Key Contact
                                                                 options and process framework.
                                                                                                                              Raymond Campbell
Further, the demand for healthcare                                                                                            Partner
services is increasing due to demographic
changes and population growth.
Additionally, growth in the medical faculty
student population has increased the need
for additional infrastructure to provide
clinical training for the students.

               2020 KPMG International Cooperative (“KPMG International”). KPMG International provides no client services and is a Swiss entity with which the independent member
               firms of the KPMG network are affiliated. All rights reserved.
Caribbean Infrastructure, Government & Healthcare credentials                      14

2020 KPMG International Cooperative (“KPMG International”). KPMG International provides no client services and is a Swiss entity with which the independent member firms of the KPMG
network are affiliated. All rights reserved.
15   Caribbean Infrastructure, Government & Healthcare credentials

              2020 KPMG International Cooperative (“KPMG International”). KPMG International provides no client services and is a Swiss entity with which the independent member
              firms of the KPMG network are affiliated. All rights reserved.
Caribbean Infrastructure, Government & Healthcare credentials                      16

Cayman mental
health facility
Financial advisory

Context                                                       The Challenge                                                       Outcome
Historically, the Cayman Islands did not                      In July 2015, the CIG issued a Request                              The OBC was approved by
have a long-term residential mental health                    for Proposal (“RFP”) for financial and                              the CIG Cabinet in May 2016.
facility, mental health policy or a mental                    technical consultancy services to prepare                           The procurement process was
health plan. In February 2015, the Cayman                     an Outline Business Case (“OBC”) for                                completed in 2018 and construction
Islands Government (“CIG”) approved the                       the proposed LTRMHF developments in                                 began in October 2019.
policy guidance for the development of                        the Cayman Islands. This engagement
the Long Term Residential Mental Health                       involved the consideration of the five
Facility (“LTRMHF”) with the project                          options put forward in the Strategic
intention to support the CIG’s Strategic                      Outline Case and the preparation of an                             Key Contacts
Aim and Policy Objective of “a fit and                        integrated OBC to determine the best                               Kris Beighton
healthy population”.                                          option for the Cayman Islands community.                           Partner
                                                                                                                                 Ashita Shenoy
Through the preparation of a Strategic
                                                              KPMG’s role
                                                                                                                                 Director
Outline Case, the CIG identified the                          KPMG in the Cayman Islands was
following five options:                                       engaged as Prime and Financial
                                                              Consultant to the CIG, with services
                Option 1:                                     provided including:
                Status Quo                                    •      coordinating a multidisciplinary
                                                                     engagement team including external
                                                                     partners serving as the Mental
                Option 2:                                            Health Facility and Construction Cost
                Enhanced Status Quo
                                                                     Consultants;
                                                              •      interviewing and holding consultation
                Option 3:                                            meetings with the various
                Building a LTRMHF                                    stakeholder groups;
                for the local population                      •      providing health sector expertise with
                                                                     contribution from KPMG’s network of
                                                                     member firms;
                Option 4:
                                                              •      performing valuation and financial
                Building a LTRMHF for the
                                                                     analysis on the five options presented
                local and overseas population
                                                                     in accordance with the HM Treasury
                                                                     Green Book guidance;
                Option 5:                                     •      managing the compilation and
                Cayman Islands Government                            timely completion of the overall
                to tender for local service                          deliverable; and
                                                              •      presenting the OBC findings to the
                                                                     CIG Cabinet.

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network are affiliated. All rights reserved.
17   Caribbean Infrastructure, Government & Healthcare credentials

Bahamas National
Health Insurance
Implementation and ongoing expansion of
National Health Insurance in The Bahamas

Context                                                                                                                      Outcome
The Government of The Commonwealth                        •     Supporting Board training                                    The Bahamas has successfully
of The Bahamas (“the Bahamian                                   and a comprehensive Board                                    created and implemented NHI, a
Government”) sought to implement                                orientation program.                                         key component of UHC.
a Universal Health Coverage (“UHC”)                       •     Providing project management
program, a component of the Sustainable                         support for the creation of NHI.                             NHI now has close to 70,000
Development Goals initiated by the
                                                          •     Supporting the procurement                                   Bahamians enrolled, 4,000 of whom
United Nations and the World Health
                                                                process for an integrated electronic                         are under the age of 5, and 9,250
Organization. Accordingly, the Bahamian
                                                                health records system and claims                             senior citizens over the age of 65.
Government developed a National
                                                                administration system.                                       55 provider facilities and close to
Health Insurance (“NHI”) program as the
                                                          •     Supporting development of a policy                           100 primary care physicians are
financing mechanism to provide UHC in
                                                                framework, inclusive of jurisdictional                       registered across 14 islands of
The Bahamas. NHI Bahamas launched in
                                                                benchmarking, and drafting of new                            The Bahamas.
April 2017.
                                                                NHI legislation.
KPMG’s role                                                                                                                  The NHI program continues to
                                                          More recently, KPMG in The Bahamas                                 evolve as fiscal and capacity
KPMG in The Bahamas has acted as
                                                          has been engaged by NHIA to assist with                            challenges are addressed and
advisor to the Bahamian Government in
                                                          the following:                                                     is currently in the feasibility and
the initial design and continues to advise
                                                          •     Supporting implementation of the                             assessment stage for the next
on the implementation of NHI Bahamas,
                                                                electronic health records and claims                         phase of NHI which intends to
through a multi-phase engagement.
                                                                administration systems.                                      add more services and introduce a
                                                                                                                             Standard Health Benefit amongst
Areas of consultancy include:                             •     Review of network and technology
                                                                                                                             other initiatives.
                                                                infrastructure and establishment of
•    Conducting an evidence-based
                                                                cyber security controls and safeguards.
     investigation of service delivery
     costs and developing risk-adjusted                   •     Advising and supporting the NHIA
     capitation rates to provide a                              on development of a business case                            Key Contacts
     reimbursement model for providers                          and financial analysis for proposed
                                                                expansions of NHI services and                               Simon Townend
     (doctors, laboratory, etc.).                                                                                            Partner
                                                                reforms, including a current state
•    Facilitating the NHIA organizational                                                                                    Shana Lee
                                                                analysis, future state analysis, and
     design and advising on the                                                                                              Managing Director
                                                                financial projections.
     development of the NHI
                                                          •     Supporting the revision of NHI                               Nico Maritz
     Target Operating Model and IT
                                                                legislation to reflect proposed reforms.                     Director
     System Blueprint.
                                                                                                                             Shripal Doshi
                                                                                                                             Project Manager

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Caribbean Infrastructure, Government & Healthcare credentials                      18

Trinidad and Tobago
hospital redevelopment
Individual master plans for three
public hospitals in Trinidad & Tobago

Context                                                       KPMG’s role
The Ministry of Health of Trinidad and                        The engagement team comprising                                 •      performing sensitivity analysis
Tobago commissioned Master Plan                               resources from KPMG’s Global Healthcare                               over key financial model inputs and
Studies of the Country’s three largest                        practice and KPMG in Trinidad and                                     assumptions; and
acute care hospitals: Port of Spain                           Tobago, was retained as the financial                          •      providing net present value and
General Hospital, Eric Williams Medical                       consultant within a project consortium led                            cash flow comparisons between
Sciences Complex and San Fernando                             by B+H Architects.                                                    various options.
General Hospital.

                                                              KPMG in Trinidad and Tobago, in
The master plans included development of:                     consultation with other team members,                               Outcome
                                                              was responsible for developing the overall                          The master plans have been
              new service delivery model(s)                   vision of care for each of the hospitals
              to align care delivery and built                                                                                    completed, the engagement team
                                                              and the business case for the proposed                              provided two separate deliverables:
              infrastructure;                                 redevelopment options.                                              the Future Visioning Report and the
                                                                                                                                  Business Case Report.
              business case analysis of the                   The scope of work included:
              feasibility of the proposed                     •      facilitating workshops with key
              implementation strategy;                               stakeholders to create a compelling
                                                                     vision for hospital care that would
                                                                     help drive the planning and design of                       Key Contact
              short and long-term                                    each of the three hospitals;                                Dushyant Sookram
              architectural and site plan
                                                              •      research into leading practices,                            Partner
              development strategies;
                                                                     trends, demographics, and services
                                                                     delivered today and in future
              enhanced use of clinical and                           clinical scenarios;
              back-office technology; and                     •      projecting healthcare service
                                                                     unitization and hospital capacity over
                                                                     a twenty-five year planning horizon;
              incorporation of research and
                                                              •      facilitating workshops to educate key
              medical education.
                                                                     stakeholders regarding traditional
                                                                     and alternative (P3) infrastructure
                                                                     delivery models;
                                                              •      developing financial models to
                                                                     perform options analysis between
                                                                     various hospital delivery options;

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19   Caribbean Infrastructure, Government & Healthcare credentials

Acute care clinical
services improvement
Operational excellence in clinical services

Background                                                Identified clinical process                                    Operational cost efficiencies
The client’s (“the Hospital”) ability to                  improvements                                                   The engagement team provided
deliver on its mandate of providing high                  To overcome the challenges, the                                proposals to minimize spend on non-
quality care has been challenged by rising                engagement team proposed optimizing                            value added items such as back-office
costs and a rapidly ageing population.                    services in the following areas:                               support services.
Facing a forecast deficit of US$40 million,               •     Maximizing patient flow and reduction
the Hospital developed the Clinical                             of variation in how care is delivered.
Services Programme (“CSP”) together                                                                                          Outcome
                                                          •     Opportunities for de-escalating care.
with its Financial Recovery Plan to achieve                                                                                  •     The multi-jurisdictional team
significant savings over a period of                      •     Optimizing length of stay in
                                                                                                                                   have worked very closely with
four years.                                                     the hospital.
                                                                                                                                   the clinical teams to identify
                                                          •     Identifications and securing of                                    process improvements and
KPMG’s role                                                     elective patient pathway.                                          savings without an adverse
                                                          •     Improving operating theater                                        impact on the quality of care.
The engagement team identified
                                                                scheduling and performance.                                  •     As a result of the engagement,
three key challenges that needed to
be overcome to ensure successful                          •     Optimizing staff scheduling.                                       the average length of inpatient
implementation of the CSP:                                •     Using appropriate medication and                                   stay has been reduced.
1.   Improving the quality of care without                      clinical devices including moving to                         •     Wait time for CAT scans and
     increasing cost at the time when                           generic drugs where appropriate.                                   ultrasounds has decreased
     the Hospital was facing budget                                                                                                while utilization of diagnostic
     constraints.                                                                                                                  imaging increased.
                                                          Governance
2.   System inertia and the need to                       The engagement team also
     secure staff buy-in into the proposed                reviewed policies and provided
     change and the need to manage staff                  recommendations on:
     engagement on an ongoing basis.
                                                          •     Financial and corporate governance
3.   Ageing population and higher                               necessary to deliver required savings
     care costs associated with island                          with no (or minimal) impact on
     jurisdictions and limited access to                        service provision.
     specialized care.
                                                          •     Financial and operational controls with
                                                                the view of improving performance
                                                                management and accountability for
                                                                enhanced service delivery.

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              firms of the KPMG network are affiliated. All rights reserved.
Caribbean Infrastructure, Government & Healthcare credentials                       20

Bermuda Health Council/
Ministry of Health
Healthcare reform communications strategy

Context                                                             Outcome and phase 2
Bermuda Health Council’s (“BHeC”)                                   BHeC and the Bermuda Ministry of Health launched its health finance reform in line
strategy envisaged a reform of Bermuda’s                            with the communications plan in 2019. Additionally, KPMG in Bermuda is engaged
healthcare system to achieve greater                                to assist with the process of reviewing and redrafting the 2020-25 Bermuda Health
sustainability, accessibility, affordability                        Strategy, in partnership with the Ministry of Health and Bermuda Hospitals Board.
and improved health outcomes.
To implement that strategy BheC was                                 This work is currently underway and will comprise:
looking for assistance with communicating
the significant changes in financing of                                            Analyzing background data and engaging stakeholders to develop a
healthcare in Bermuda.                                                             comprehensive view of the Bermuda health system as it is now and its
                                                                                   underlying issues.

The planned communication on financing
reform was intended to be transparent                                              Conduct a system leaders’ survey to identify key issues and develop a
and meaningful to start the process of                                             vision of the desired, future state of the health system.
educating the public and stakeholders
about the importance of the reform, the
need for it and anticipated benefits.                                              Produce materials informed by the above analysis and facilitate a
                                                                                   Leadership Workshop designed to develop a consensus view of the
KPMG’s role                                                                        current system’s challenges and the path towards the future vision.

KPMG in Bermuda helped to craft a
comprehensive communications plan                                                  Supporting the Steering Committee, comprised of senior system
introducing the financing reforms.                                                 leaders and decision-makers, in formulating the national health strategy
                                                                                   to achieve the objectives of greater access, affordability and improving
The plan included:                                                                 health outcomes
•     High level announcement of the
      Bermuda Government’s plans to
      embark on significant structural
      challenges to the healthcare system.                                                                                         Key Contacts
•     A plan for immediate steps before                                                                                            Steve Woodward
      and after the announcement.                                                                                                  Managing Director
•     Drafting key messages and                                                                                                    Lori Rockhead
      Frequently Asked Questions on why                                                                                            Director
      structural changes are important and
      their impact on the general public.
•     Different types of communication
      methods to be used.

                                                                                 2020 KPMG International Cooperative (“KPMG International”). KPMG International provides no
2020 KPMG International Cooperative (“KPMG International”). KPMG International provides  no clientand
                                                                                 client services   services and is
                                                                                                      is a Swiss    a Swiss
                                                                                                                 entity withentity
                                                                                                                             whichwith
                                                                                                                                   the which the independent
                                                                                                                                       independent           member
                                                                                                                                                    member firms      firms
                                                                                                                                                                 of the     of the KPMG
                                                                                                                                                                         KPMG
network are affiliated. All rights reserved.                                     network are affiliated. All rights reserved.
21   Caribbean Infrastructure, Government & Healthcare credentials

Hospital redevelopment
                                                                                                                   Outcome
                                                                                                                   The ACW opened for operation
                                                                                                                   in September 2014. The new
                                                                                                                   hospital wing includes 90 single

P3, Bermuda
                                                                                                                   en suite private patient beds, new
                                                                                                                   emergency and diagnostic imaging
                                                                                                                   departments, out-patient services
                                                                                                                   for dialysis and oncology and a
                                                                                                                   new utility hub to support the
                                                                                                                   hospital campus.
King Edward VII Memorial Hospital Acute Care
Wing business strategy, financial advisory and                                                                     In 2015, KPMG in Bermuda
                                                                                                                   advised BHB in relation to the
procurement assistance                                                                                             Paget Health Services’ plans to
                                                                                                                   refinance senior debt. The Project
                                                                                                                   Agreement ensured that BHB
                                                                                                                   would share in the benefits, if
                                                                                                                   the Private Partner refinanced.
                                                                                                                   As a result, BHB benefited from
Context                                                   •     assisting with the identification                  a reduction in its annual service
                                                                and selection of legal and                         payment of over US$500,000
Based on a third party assessment that                          technical advisors;                                annually for the remaining 29 years
Bermuda’s only acute care hospital needed
                                                          •     establishing the development budget,               of the Agreement.
approximately 50% more capacity to sustain
the delivery of high quality health care and                    schedules, communications, records
expand the range of treatment services                          management, risk management and
provided locally (thus reducing the need for                    mitigation, and project agreement                                   International
patients to travel overseas), the Bermuda                       with the private partner. This                                      recognition
Hospitals Board (“BHB”) sponsored                               work included:                                                      and awards
the King Edward VII Memorial Hospital                           • marketing of the PPP opportunity;
(“KEMH”) Redevelopment PPP to build the                         • development of the business,                     Best Accommodation Project,
Acute Care Wing (“ACW”) extension.                                regulatory and procurement model;                Partnerships Awards 2012
                                                                • drafting of regulation, contractual              (July 2012)
The five year project to develop the                              terms and procurement
                                                                                                                   Press release by World Finance
business case, procure a private sector                           documentation; and
                                                                                                                   (January 2013)
partner, design and build the ACW                               • support through the Request for
(“the Project”) was started in late 2008.                         Qualifications and Request for
BHB selected a design, build, finance                             Proposal stages including the
and maintain delivery model to fit its                            evaluation of qualifications.
requirements. Paget Health Services was
                                                          •     KPMG in Bermuda provided input on
selected in December 2010 as the private
                                                                the development and amendment of
partner and ground breaking started in
                                                                legislation critical to supporting the
January 2011.
                                                                Project; and
                                                          •     KPMG in Bermuda was retained as
KPMG’s role
                                                                the Fairness Monitor to advise on
KPMG in Bermuda acted as business and                           fairness of the procurement process
financial advisor including assisting with:                     and to report on compliance with                  King Edward Hospital, Bermuda
•    developing the business strategy and                       fairness principles established at
     business case;                                             the outset of the Project to ensure
                                                                                                                   Key Contacts
•    establishing the governance                                the Project met leading international
                                                                procurement practice.                              Steve Woodward
     structure to help ensure oversight of
                                                                                                                   Managing Director
     the Project;
                                                                                                                   Lori Rockhead
•    developing BHB’s project
                                                                                                                   Director
     management team structure;

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              services and is a Swiss entity with which the independent member firms of the KPMG network are
              affiliated. All rights reserved.
Caribbean Infrastructure, Government & Healthcare credentials                      22

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network are affiliated. All rights reserved.
23   Caribbean Infrastructure, Government & Healthcare credentials

Climate
action and
infrastructure
Without a doubt, the increasing
severity and frequency of climate
related catastrophes have taken their
toll on the islands region.

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              International provides no client services and is a Swiss entity with which
              the independent member firms of the KPMG network are affiliated. All
              rights reserved.
Caribbean Infrastructure, Government & Healthcare credentials                      24

                                                              Kingston dock
                                                              yard project
                                                              Development of a business plan

                                                              Context                                                        KPMG’s Role
                                                              Ship owners whose vessels call on                              KPMG in Jamaica assisted GSRJ with
                                                              Jamaica or traverse the region require dry                     the preparation of the business and
                                                              dock facilities for routine and emergency                      financing plan which included an executive
                                                              maintenance and repair work to keep                            summary; description of the business;
                                                              vessels operable. Additionally, all vessels                    projected financial information; marketing
                                                              must also undergo special surveys, based                       strategy; operations; management and
                                                              on the vessel class, every five years or                       organization of the business and the
                                                              less. The selection of a ship repair facility                  opportunities for providers of debt capital
                                                              is highly dependent on the extent and type                     for the complete project.
                                                              of servicing to be done to a vessel, the
                                                              proximity of the repair facility to vessels
                                                                                                                             The scope of work included the
                                                              in need of repair or maintenance, and the
                                                                                                                             development of an integrated financial
                                                              preference of the vessel owners.
                                                                                                                             model including projected income
                                                                                                                             statements, ratio analyses, projected cash
                                                              The time lost from the ship’s regular work                     flows; and projected balance sheets.
                                                              schedule and the related loss of earnings
                                                              are also factors in determining where to
                                                              undertake vessel repair and maintenance.                            Outcome
                                                                                                                                  KPMG in Jamaica developed the
                                                              The Challenge
                                                                                                                                  business and financing plan and
                                                              German Ship Repair Jamaica Limited                                  the related integrated financial
                                                              (“GSRJ”) currently provides mobile ship                             model which included a range of
                                                              repair services also known as wet works                             sensitivities and scenario options.
                                                              or wet repair services. The provision of                            The expansion project has been
                                                              dry dock services would be a natural                                approved by the stakeholders
                                                              expansion of their existing ship repair and                         and is in final stages of pre-
                                                              maintenance services. In order to secure                            implementation activities.
                                                              stakeholder support GSRJ needed to
                                                              develop a business plan for the expansion
                                                              of their business to provide dry dock
                                                              services in Jamaica.                                               Key Contact
                                                                                                                                 Raymond Campbell
                                                                                                                                 Partner

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network are affiliated. All rights reserved.
25   Caribbean Infrastructure, Government & Healthcare credentials

Arawak shipping port
Capital raising and other advisory services

Context                                                   KPMG’s role                                                        Outcome
Several years ago, the Government of                      KPMG in The Bahamas continues to act as                            Arawak Port, an International Ship
The Commonwealth of The Bahamas                           financial advisor to APD, a role held since                        and Port Facility Security (“ISPS”)
(“the Bahamian Government”) decided                       2008, and has provided a wide range of                             compliant facility comprising
to relocate container, bulk and break-                    services including assistance with:                                Nassau Container Port (on Arawak
bulk shippers that operated along the                                                                                        Cay) and Gladstone Freight
waterfront in the downtown capital of                                     structuring, negotiating and                       Terminal (inland terminal), achieved
Nassau to a less congested site further                                   securing US$90 million of                          substantial completion in May 2012.
west on the island of New Providence.                                     capital in equity, bridge loan
                                                                          financing, senior bank debt
                                                                          and preference shares;                             This followed closure of APD’s
A coalition of shipping interests formed                                                                                     IPO in January 2011, which was
APD Limited (“APD”) to submit a design,                                                                                      the most highly oversubscribed
build, finance and maintain proposal                                      completing a B$10 million                          public offering in the history of
for a new port (“Arawak Port”). In May                                    initial public offering (“IPO”);                   The Bahamas. APD’s preference
2010, APD reached a Memorandum                                                                                               share offering in 2013 was also
of Understanding with the Bahamian                                                                                           oversubscribed, at an interest rate
Government for the project to move                                        developing a financial                             margin that was comparable to
ahead under a 45-year land lease and                                      plan inclusive of a 30-year                        sovereign domestic offerings.
concession agreement.                                                     integrated financial model;

                                                                                                                             For two consecutive years,
As tourism is The Bahamas’ primary                                        preparing an economic                              Florida Shipowners Group rated
industry, a significant benefit of Arawak                                 impact study;                                      Arawak Port as the Caribbean’s
Port is that it facilitated the Nassau                                                                                       most productive port, beating out
Downtown Revitalization plan which aims                                                                                      24 regional rivals. APD has over
to increase tourism in the downtown                                       advising the commercial                            100 employees and processes
core. In addition, the revitalization plans                               terms of key operator                              more than 70,000 TEUs on an
include converting downtown Nassau to a                                   license agreements;                                annual basis.
“living city” by bringing a new residential
component to the area.
                                                                          benchmarking equipment
                                                                          lease agreements and port
                                                                                                                             Key Contacts
                                                                          tariffs; and
                                                                                                                             Simon Townend
                                                                                                                             Partner
                                                                          performing an annual review                        Shana Lee
                                                                          of its tariff structure and                        Managing Director
                                                                          dividend strategy.

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              firms of the KPMG network are affiliated. All rights reserved.
Caribbean Infrastructure, Government & Healthcare credentials                      26

                                                              Airport financing
                                                              in Barbados
                                                              Capital raising, due diligence
                                                              and valuation services

                                                              Context                                                             Outcome
                                                              The Grantley Adams International Airport                            •     The business plan assisted
                                                              (“GAIA”) is Barbados’ only airport and the                                GAIA with its efforts to
                                                              aviation hub of the Eastern Caribbean,                                    expand and formed the basis
                                                              handling daily flights to and from the other                              for its corporatization and
                                                              Caribbean islands connecting to major                                     privatization objective.
                                                              cities in the US, Canada, UK and Europe.                            •     The operational and financial
                                                              GAIA is wholly owned by the Government                                    due diligence subsequently
                                                              of Barbados and handles in excess of two                                  resulted in the strengthening of
                                                              million commercial passengers annually.                                   GAIA’s operations.
                                                                                                                                  •     The valuation report was
                                                              KPMG’s role                                                               prepared, and its conclusion
                                                              KPMG in Barbados and the Eastern                                          formed a part of the basis used
                                                              Caribbean acted as a financial advisor to                                 to determine the strategic
                                                              GAIA, providing a wide range of services,                                 direction of the airport.
                                                              including assistance with the following:

                                                                               developing a business plan;
                                                                                                                                 Key Contacts
                                                                               providing operational and                         Lisa Taylor
                                                                               financial due diligence; and                      Partner
                                                                                                                                 Christopher Brome
                                                                                                                                 Partner
                                                                               preparing a comprehensive
                                                                               valuation report.

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network are affiliated. All rights reserved.
27   Caribbean Infrastructure, Government & Healthcare credentials

L. F. Wade (Bermuda)
International Airport
redevelopment P3
Project management and commercial
advisory services

Context                                                   KPMG’s role
In 2014, the Government of Bermuda                        KPMG in Bermuda provided project                        •   Advising on commercial and business
(“the Bermudian Government”) entered                      management, commercial advice,                              terms including appropriate risk
into discussions with Aecon Concessions                   negotiation support, and accounting                         transfer, scope and specification of
(“Aecon”) and the Canadian Commercial                     advisory assistance to the Bermudian                        the redevelopment, performance
Corporation (“CCC”) in relation to using                  Government including:                                       standards and enforcement
a P3 delivery model to build, finance,                    •     Developing the Cabinet level                          mechanisms, allocation and
and maintain a new airport terminal and                         governance structure to ensure                        mitigation of environmental risks, land
operate the Bermuda airport under the                           appropriate executive oversight and                   and lease issues, needs and rights of
terms of a concession agreement.                                project enablement.                                   Government agencies, establishment
                                                                                                                      of the Bermuda Airport Authority, and
                                                          •     Project managing the Bermudian
                                                                                                                      stakeholder consultations.
The Bermudian Government selected                               Government and tri-party working
                                                                groups, developing the work plan and              •   Supporting the Bermudian
the Government-to-Government (“G2G”)
                                                                tracking results.                                     Government in negotiations with the
procurement model which involved
                                                                                                                      Concessionaire on deal terms, and
negotiating the Project Agreement with                    •     Advising on increasing Bermudian
                                                                                                                      with ensuring the UK Government’s
Aecon and CCC.                                                  labor participation, including the
                                                                                                                      conditions for Entrustment were met.
                                                                internship program for construction
                                                                professionals, and proposing a plan               •   Advising the Bermudian Government
Following the execution of the Airport                                                                                on the accounting treatment for
                                                                for advanced training of Bermudian
Development Agreement in 2015,                                                                                        the concession.
                                                                trade workers which will contribute to
the Bermudian Government required
                                                                long-term sustainable employment.                 •   Delivering the P3 workshop to
assistance with project management and
                                                                                                                      the civil service executive and
commercial advice to fulfil its obligations
                                                                                                                      department heads to increase
and achieve financial close.
                                                                                                                      institutional knowledge of alternative
                                                                                                                      finance for capital development.

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              services and is a Swiss entity with which the independent member firms of the KPMG network are
              affiliated. All rights reserved.
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