Public-Private Partnership (PPP)

A government service or private business venture which is funded and operated through a partnership of government and one or more private sector companies. PPP involves a contract between a public sector authority and a private party, in which the private party provides a public service or project and assumes substantial financial, technical and operational risk in the project.
SOURCE: A Guidebook for the Design and Establishment of National Funds to Achieve Climate Change Priorities – UNDP