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A public–private partnership is a cooperative arrangement between one or more public entities (typically the owner) and another (typically private sector) entity to design, build, finance, and at times operate and maintain, the project for a specified period of time on behalf of the owner.
Public–private partnerships (PPP or P3) are cooperative arrangements between two or more public and private sectors, typically of a long-term nature. [1] In the United States , they mostly took the form of toll roads concessions , community post offices and urban renewal projects. [ 2 ]
A public–private partnership (PPP, 3P, or P3) is a long-term arrangement between a government and private sector institutions. [1] [2] Typically, it involves private capital financing government projects and services up-front, and then drawing revenues from taxpayers and/or users for profit over the course of the PPP contract. [3]
A Public–private partnership unit (PPP unit) is an organisation responsible for promoting, facilitating and/or assessing Public-private partnerships (PPP, P3, 3P) in their territory. PPP units can be government agencies, or semi-independent organizations created with full or partial government support.
The Government of India defines a P3 as "a partnership between a public sector entity (sponsoring authority) and a private sector entity (a legal entity in which 51% or more of equity is with the private partner/s) for the creation and/or management of infrastructure for public purpose for a specified period of time (concession period) on ...
The name “public social private partnership” (PSPP) is a development of Public Private Partnership (PPP).. PPP is one expression of a strong trend towards (re)privatisation, which in some European countries has arisen as a result of more difficult economic conditions in recent years and the associated structural crisis in the public sector (see Eschenbach, Müller, Gabriel: 1993).
In the US, private prison facilities housed 12.3% of all federal prisoners and 5.8% of state prisoners in 2001. Contracts for these private prisons regulate prison conditions and operation, but the nature of running a prison requires a substantial exercise of discretion. Private prisons are more exposed to liability than state run prisons. [4]
New instruments can help government alloy public dollars with private dollars, leverage outside expertise for localization or diligence, and attract outside capital to address social problems. Through the use of strong intermediaries, public-private partnerships can tap local knowledge, and build a sustainable ecosystem that goes beyond government.
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