The Fourth International Conference on Financing for Development in Seville underscored a reality that is impossible to ignore: the 2030 Agenda for Sustainable Development is running out of time and most targets are still unmet. Yet, the question facing governments and institutions are larger than how to sprint toward the finish line. It is also about what comes next. With a $4 trillion annual SDG financing gap, private capital must be channeled toward long-term social goods like climate-resilient infrastructure and health security—as exemplified by Türkiye’s PPP successes with an investment value of more than $110 billion.
Public budgets are not enough at the global level
As International Geneva welcomes the new informal Group of Friends on Strategic Foresight and Anticipatory Governance (GOFFA), foresight studies warn that governments cannot meet future demands alone. Rather, only by drawing the private sector into health, climate, infrastructure, and even humanitarian action can we keep pace. The obstacles are familiar.
Public budgets are overstretched. Debt service crowds out investment. Humanitarian needs are multiplying. Climate change adds escalating costs to every sector. Development aid, while crucial, is simply too small to cover the gap.
And yet, private capital is abundant worldwide. The challenge therefore is to create channels that allow it to flow toward long-term social goods rather than only short-term profits. This is why the role of the private sector cannot be dismissed, however complicated it sometimes appears.
PPP is a contested but useful tool
Public–Private Partnerships (PPPs) are one of those channels. They allow governments and private firms to share responsibilities for financing and delivering infrastructure and services. They are not perfect, and their critics point to complex contracts, hidden fiscal risks, and the danger of prioritizing private gain over public need.
These critiques must be studied seriously. However, PPPs also offer something few other tools can: the ability to mobilize large amounts of capital quickly, while bringing in innovation and efficiency. In an era of fiscal scarcity, this makes them difficult to ignore.
Türkiye’s experience is significant
Since the 1980s, more than 270 projects with an investment value of more than $110 billion have been implemented in sectors ranging from energy and transport to healthcare.
Several projects have become global reference points:
• The 1915 Çanakkale Bridge, the world’s longest suspension bridge by main span, built under
a PPP framework and recognized internationally for its alignment with sustainability goals.
• The Eurasia Tunnel, an underwater road link between Asia and Europe, certified under the OECD’s Blue Dot initiative for environmental standards.
• Istanbul Airport, now one of the busiest in the world, developed under a PPP arrangement that positioned the country as a key transit hub.
• The City Hospitals program, which expanded access to modern healthcare nationwide and proved critical during the COVID-19 pandemic.
• Earlier projects in energy, including hydro and natural gas plants, supported diversification and security of supply. Motorways and tunnels improved connectivity and trade. Türkiye now boasts a highly advanced infrastructure.
The lesson is not that PPPs are flawless. Rather, it is that they work best when backed by strong institutions, balanced risk-sharing, and effective oversight.
Guardrails are essential for partnerships
If PPPs are to be part of the solution for the years ahead, several conditions are indispensable:
• They must align with national development strategies and global goals.
• Governments need the capacity to negotiate and monitor contracts.
• Public safeguards—on affordability, equity, and sustainability—must be in place.
• Transparency and accountability are essential to maintain trust.
• Flexibility must be built into contracts so they can adapt to new realities.
Looking beyond 2030
The SDGs will not be achieved by their deadline. That is a hard truth. But it should also be seen as a starting point for reflection. The world will need a post-2030 framework that addresses more directly digital transformation, health security, climate adaptation, and inequality, among others.
Whatever form it takes, it will require resources far beyond what governments alone can provide.
That is why the participation of the private sector—in infrastructure, in renewable energy, in health, even in humanitarian response—is essential.
Public–Private Partnerships are often debated, and rightly so. They are complex, sometimes costly, and never risk-free. But when designed with transparency and fairness, they are among the few instruments capable of mobilizing private resources on the scale of today’s challenges.
Türkiye’s experience is significant. The broader lesson, however, is global: if we are to finish what remains of the SDGs and prepare for the next chapter in international cooperation, governments and the private sector will have to work together more closely than ever before.