Public-Private Partnership: Toward More Effective International Development Cooperation

In the 21st century, the traditional model of official development assistance (ODA) promoted by developed countries is faced with many challenges. One of them is the emergence of the “public-private partnership (PPP)” model for international development cooperation (IDC), which has become increasingly popular among developed countries and international organizations over the past decade. This article explores the origin, meaning, and mechanism of the PPP model, and discusses the major obstacles it encounters in practice. The article also compares PPP with China’s “development package” model, and puts forward some policy recommendations on China’s participation in IDC. Although China is a pioneer in carrying out public-private cooperation in international development, it needs to fully reflect on its experience, so as to formulate clearer guiding principles and management rules on public-private cooperation. It is also imperative for the country to set up relevant institutions and mechanisms to promote PPP practices.