Public Private Partnerships (PPP) have emerged as one of the major approaches for delivering infrastructure projects effectively. This article develops a PPP framework for infrastructure development. It discusses examples of worldwide applications, as well as benefits and obstacles of PPP through a literature review on PPP-related research over the last 20 years. The syntheses of the knowledge present foundations from which the laws, regulations, and guidelines for effective and successful PPP implementation can be established. This analysis reveals that PPP can create new and long-term business opportunities with a chance to deliver infrastructure services of higher quality and efficiency. However, these benefits will only be materialized when a PPP project is properly planned and managed and both the public and private sectors work together successfully.