Kenyans like to look towards South Korea for clues on how to successfully stimulate economic development. Having a similar starting point in the early 1960ies, South Korea is now the world’s 14th largest economy with Kenya trailing far behind. How did the small Asian nation do it? The article by Jungwook Kim from the Korean Development Institute explores to what extent the model of Public Private Partnerships played a role in bridging the gap between demand and supply of finances. And what alternative exist for infrastructure delivery.
Public Private Partnerships (PPPs) Are Not A Must
Popularity of PPP
Most developed and developing countries need more infrastructure, yet their fiscal resources are limited.
To fill the gap between demand and supply of infrastructure finance, an increasing number of countries are implementing (or considering the possibility of) public private partnership (PPP) projects. It is undeniable that PPP is viewed as a good option for infrastructure development. Moreover, multilateral development banks 1 try to support and promote PPP in various ways. In these circumstances, the experience of Korea may offer some valuable lessons to various actors in PPPs.