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Evidence of the large and growing gap between infrastructure needs and the resources that state governments have historically invested in meeting those needs is everywhere: congested roads; bridges in need of repair; poorly maintained transit systems; and deteriorated hospitals, schools and waste treatment facilities. These infrastructure deficits, in turn, impose huge costs on society, ranging from lower productivity and reduced competitiveness to an increased number of accidents. Public-Private Partnerships (PPPs) are one tool governments have at their disposal for infrastructure delivery - a tool that requires careful application. While dealing with partnerships, governments should take a full lifecycle approach that confers adequate attention to all phases of the project - from policy and planning to the transaction phase, and then, to managing the concession.
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