Public-Private Partnerships: Global Campaign Manifesto
PPPs (also known as Private Finance Initiatives, or PFIs) are essentially long-term contracts, underwritten by government guarantees, under which the private sector builds (and sometimes runs) major infrastructure projects or services traditionally provided by the state, such as hospitals, schools, roads, railways, water, sanitation and energy.
A new campaign aimed at reversing the dangerous rush to promote expensive and high-risk public-private partnerships (PPPs) was launched by 152 civil society organisations from all over the globe.
The campaign’s manifesto - launched during the World Bank and International Monetary Fund annual meetings in Washington DC - demands that western governments, the World Bank and other development banks stop prioritising PPPs over traditional public borrowing to finance social and economic infrastructure and services.
The 152 organisations from 45 countries behind the manifesto point out that “experience of PPPs has been overwhelmingly negative and very few PPPs have delivered results in the public interest.” PPPs often cost more in the long run than conventional public funding, expose governments to financial risk, and can have a disproportionally negative impact on women and children, and undermine democracy, human and environmental rights.