From Me to We by Ricardo Ernst & Jerry Haar

Author:Ricardo Ernst & Jerry Haar
Language: eng
Format: epub
ISBN: 9783030874247
Publisher: Springer International Publishing

Private-Public Partnerships

Public-private partnerships (PPPs ) can play a significant role as a catalyst for shifting the view from shareholders to stakeholders. PPPs are the conceptualization or product resulting from aligning two drivers potentially pushing in opposite directions. Rather than thinking of the private sector and the public sector as enemies, they should be seen as partners, bringing different elements to achieve goals in a sustainable manner.

These cooperative arrangements and typically of a long-term nature and involve one or more governments working together with one or more businesses to carry on a project or provide a service to the population, as illustrated in Fig. 6.1. These partnerships have been implemented all across the globe mainly for large infrastructure projects such as construction of hospitals, schools, water systems, and transportation systems. For example, in the 1990s the UK implemented a large-scale project to upgrade aging healthcare facilities and expand capacity of its National Health Service (NHS). Within 12 years of its implementation, at least 100 new NHS hospitals had been built through these partnerships. A PPP typically entails a private partner taking on financial, technical, and operational risks, and being held accountable for specific outcomes. For the government a PPP provides an alternative source of financing to develop infrastructure projects and delivery of services.

Fig. 6.1Public-private partnerships (PPPs). (Source: Authors)

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