Essay: Benefits of PPPs

PPPs are contractual binding agreements which are formed between the public and private sector. It gives the private sector more leeway than was traditionally the case. Basically, the public sector is a government agency which contracts a private company to construct, maintain, operate or renovate a particular project. Minnow, Martha and Jody Freeman (2009), opine the public sector retains ownership of the project. However, the private company is endowed with special rights which enable it to determine how the project will be completed.

The main benefit of PPPs is to formulate strong bonds. All factors remaining constant, both parties will be in a position to solve problems without any delay or disputes. It is noteworthy that access to banks and investments houses, facilities belonging to the public sector, paves the way for funding opportunities. Projects which are not fiscally viable in the public sector do not get public funding. Making use of private funding brings notable changes in the public sector (Assaf, et al, 1995).

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