1. Risk Sharing: They allow the sharing of risks between the public and private sectors, which can lead to more efficient project execution. 2. Innovation: The private sector brings in innovation and expertise that can enhance the quality and efficiency of public services. 3. Funding: They provide an alternative source of funding for large-scale projects that the public sector may not afford alone. 4. Economic Growth: By improving infrastructure and services, PPPs can drive economic growth and development.