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Public-Private Partnership (PPPs)
Public-private partnerships (PPPs) have gained popularitas especially since the failure of privatization program initiated by the World Bank, the International Monetary Fund (IMF), and other bi – and multilateral institutions. Yet, in some ways, they pose an even great challenge to sustainable and people-oriented development.
Rather than provatization outright, PPPs are privatization with added benefits. Not only does private business secure profits, as well as potential risks are subsidized by the state. PPP contracts establish flows of public resources into private hands. PPPs, furthermore, reorient government prioritas in ways that undermine democratic ownership over development.
The current trend towards the use of development resources for PPP implementation must be replaced with greater and more democratic setor leadership, and the enforcement of regulator mechanisms – including those concerned with transparency and accountability – that ensure the development contribution of private sector actors.
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