This Proclamation introduces a Public Private Partnership (PPP) Scheme, which shall have the following objectives: 1/ to create a favourable framework for promoting and facilitating the implementation of privately financed projects to support Ethiopian economic growth; 2/ to enhance transparency, fairness, Value for Money, efficiency and long-term sustainability; 3/ to improve quality of Public Service Activity; and 4/ to maintain macroeconomic stability by reducing growth in public debt. This Proclamation shall apply to Public Private Partnership projects of Public Bodies and Public Enterprises. The Act establishes a Public Private Partnership Board and a PPP Directorate General. The PPP Directorate General shall require that a successful bidder establish a Project Company incorporated under federal laws, whose sole purpose shall be to execute and implement the Public Private Partnership Agreement and other Project Agreements, if any. Any disputes between the Contracting Authority and the Private Party shall be settled through the dispute settlement mechanism agreed by the parties in the Project Agreement.