Public-private partnerships (PPPs) involve collaboration between government agencies and private sector companies to finance, build, and operate public projects. PPPs have existed for centuries but became more popular in the 1980s as governments sought private sector benefits without full privatization. The UK was the first to develop PPP concepts for public services. PPPs allocate risks between partners and remunerate private partners based on performance. Common PPP models include build-operate-transfer, build-own-operate, and design-build-finance-operate. While PPPs provide public services more efficiently, they also carry construction, availability, demand, and partnership risks that must be negotiated.