P3 BC, Virtual Resource Centre, British Columbia, What are P3s, Public-Private Partnerships, Information, Victoria, BC, Canada

Burdened by increasing debt levels, governments around the globe are focusing on new ways to efficiently deliver services and build and finance infrastructure. Public- private partnerships bring together the strengths of both the public and private sectors. They are innovative tools of public policy. In addition to maximizing efficiencies and innovations of private enterprise, public-private partnerships can provide much needed capital to finance government programs and projects of a commercial nature, thereby freeing public funds for core economic and social programs.

Public and private interests have already worked together in many cases in Canada to bring us new and important infrastructure development critical to maintaining Canada's competitiveness. The link between the Provinces of New Brunswick and Prince Edward Island over the Northumberland Strait and the municipal water pipeline financed, built and now operated by a private sector company in Alberta are recent examples of the cooperative approach between public and private interests in Canada. Many new projects are expected to be developed in the near future on a partnership basis including the development of important highways in Canada. Municipal governments are looking closely at cooperative projects with the private sector in areas
ranging from municipal recycling to water and waste water projects.

Public-private partnerships are not entirely new. What is new however is the creative ways they are being used by all levels of governments and even between levels of government. A minor revolution is occurring. Public-private partnerships can work in the provision of services, financing and development of infrastructure and the administration of government.