Uruguay launches new framework

Uruguay's new public investment framework (SNIP) will be operational by the end of 2011 to stimulate private investment in infrastructure.

The country's planning and budget office's (OPP) director Gabriel Frugoni announced the creation of SNIP this week.

It will increase the efficiency and control of public spending of both national and local governments, he said.

OPP is currently working on ways to assign and control project funds, as well as the system's legal framework.

The government will use SNIP to prioritise investment in strategic sectors of infrastructure, housing, education, health and sanitation.