Law360 Guest Article: The Who, What And Why Of Public-Private Partnerships

05/13/2013


The term “public-private partnership” (PPP) describes a cooperative arrangement between a host government and a private entity to provide affordable infrastructure to meet public needs. Governments turn to the private sector to design, build, finance and/or operate new infrastructure, or to refurbish existing infrastructure, in order to improve the delivery of services and the management of facilities.

There is no single, internationally accepted definition of PPPs. The World Bank Public-Private Partnerships Reference Guide takes a broad view of a PPP, as:

“A long-term contract between a private party and a government agency, for providing a public asset or service, in which the private party bears significant risk and management responsibility.”

Excerpted from Law360, May 13, 2013. To view full article, click here (subscription required).

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