What is PPP and Concession?
Public-Private Partnership (PPP) is a long-term contract/agreement between a Private company and a Public entity for constructing, renovating a Public asset (infrastructure) and/or for delivering public services.
The profit of a private company is linked to the performance of the Public assets (infrastructure) and services provided.
Public Service Concession (PSC) is also a long-term contract/agreement between a Private company and a Public entity for delivering public services and by using an existing public asset (infrastructure).
The International Public Sector Accounting Standard (IPSAS 32) sets out the requirements in a PSC arrangements. IPSAS 32.