In order to be justifiable, a PPP must provide value for money (VfM). This term needs to be understood in the broadest possible sense. At a fundamental level, VfM would take into account the cost of a PPP, as well as the quality of service; for a PPP to be justified, it would need to compare favourably to how public sector provision would have performed on these criteria. However, the terms 'cost' and 'quality of service' require interpretation in a broader sense with the former taking into account not just the financing, transactions and operational costs of a project, but also its longer-term fiscal implications (including the risks of any contingency liabilities) and the latter taking due note of efficiency gains, as well as the social, economic and environmental objectives embodied in the 2030 Agenda for Sustainable Development.