A public-private partnership (PPP) is a cooperative agreement between the public and private sectors with the common objective of working together on projects or delivering services.
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It involves the pooling of resources, expertise, and responsibilities by both parties to achieve common goals. PPPs often involve government entities at various levels and businesses or organizations from the private sector, each contributing their strengths to the partnership.
These partnerships are commonly used for large-scale infrastructure projects such as roads, bridges, and airports, as well as for social service sectors like healthcare and education. By leveraging the strengths of both sectors, PPPs enable risk-sharing, innovation, and increased efficiency. Various forms of PPPs exist, including build-operate-transfer (BOT) arrangements, concessions, and joint ventures, which are determined by the specific project and legal framework.