LEGAL FRAMEWORK OF INNOVATIVE FINANCING IN SUSTAINABLE DEVELOPMENT THROUGH PUBLIC–PRIVATE PARTNERSHIPS

Abstract

Objective: This research paper aims to investigate the complex nexus among public–private partnerships (PPPs), business law, and sustainable development. Against the backdrop of recent economic transformations, the imperative of sustainable development has intensified, posing financing challenges. This study seeks to establish that PPPs, grounded in business law tenets, offer a remedy by amalgamating private sector efficiency with public sector developmental pursuits. Method: A qualitative methodology is employed to explore the dynamics of PPPs in relation to sustainable development. In-depth analysis and examination of relevant literature are carried out to understand how PPPs function in bridging funding gaps and aligning private investments with societal well-being. Legal frameworks inherent to PPPs are studied to elucidate mechanisms ensuring accountability and transparency. Results: The research reveals that PPPs, functioning as conduits of collaboration between public and private sectors, hold the potential to address funding shortfalls and synchronize private investments with broader societal welfare goals. Successful case studies, particularly within extensive-scale infrastructure ventures, demonstrate the transformative capacity of PPPs. The study underscores the significance of legal frameworks in maintaining transparent and accountable PPP operations. Conclusion: The integration of business law, PPPs, and sustainable development emerges as a promising trajectory for nurturing equitable, prosperous, and resilient societies. By harnessing the efficiency of private enterprises in tandem with public developmental objectives, PPPs offer a pragmatic solution to the pressing challenges of financing sustainable development. This research underscores the viability of PPPs as instruments for fostering positive socio-economic change while maintaining transparency and accountability through legal mechanisms.