Conclusion

The infrastructure challenge before governments today may seem overwhelming. The historical boom-and-bust spending cycle has created huge infrastructure deficits around the world, the consequences of which are significant for both citizens who have to deal with decrepit facilities or long delays before new infrastructure is delivered, and governments fighting to stay competitive in today's flat world.

Slowly governments are realizing that inaction is simply not an option. PPPs alone are not a panacea. Rather, they are one tool governments have at their disposal for facilitating infrastructure delivery-a tool that requires careful application. By making the best use of the full range of delivery models that are available and continuing to innovate-learning from failure instead of retreating from it- the public sector can maximize the likelihood of meeting its infrastructure objectives and take PPPs to the next stage of their development. This development, in turn, will enable this relatively new delivery model to play a far larger role in closing the infrastructure gaps bedeviling governments across the world.