Public-Private Partnerships (PPPs) enable governments to procure and deliver public infrastructure and leverage the resources and expertise of the private sector through risk-sharing arrangements. When properly designed and executed, PPPs can create social value through on-time and on-cost delivery, generating efficiency gains and offering innovation in project design, incorporation of global expertise, and accessing new sources of capital. Conversely, poorly designed and executed PPPs can fail to deliver on these promises and create additional risks compared to traditional financing modalities. Building institutional capacity among developing country governments is critical for ensuring they can harness the benefits of PPPs and mitigate the risks.