Institutional PPP

A form of PPP, which is a sub-form of the Joint Venture (JV) or mixed-equity company, wherein the government controls the JV PPP company and usually owns the majority of the shares.
[The PPP Certification Guide considers that an institutional PPP may be regarded as a true private finance PPP when the private sector is involved significantly as an equity investor (with a significant portion of the equity shares), thereby assuming project risks, and the debt financing is at risk of performance].