public-private partnership

noun public-private partnerships · PPP · P3 · public private partnership · public/private partnership

1. An arrangement by which one or more private firms agrees to fund, create, or operate a facility, service, or other element of public infrastructure (such as a school, hospital, or highway) which is usually the sole responsibility of government, in return for all or some of the revenue generated by that facility or service. Secretary of the Interior Douglas McKay, who will lead the administration's side of the fight, has long argued that power resources should be developed through a public-private partnership, with private enterprise being given projects that it is willing and able to build.