REVIEW OF PPP FINANCE MODEL FOR INFRASTRUCTURE DEVELOPMENT: SUSTAINABILITY PERSPECTIVE
Both developing and developed countries have preferred PPPs for infrastructure development on account of its associated benefits such as balanced risk allocation, increased efficiency, an opportunity for innovation, access to advanced technology, and availability of additional resources. Though there are various benefits to the public and private sector by adopting a PPP finance model, but this finance model has criticized on a sustainability perspective. The present study has conducted a critical analysis of PPP practices for infrastructure development through literature review as a research method. The study has identified a few shortcomings in the PPP process, which fails to accomplish the goal of sustainability. Finally, the study has proposed a modified PPP framework through an integration of sustainability aspects in various areas of the PPP process.
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