With the ever-growing demand for public infrastructure and services, along with political dysfunction, challenging fiscal environment, greater project complexity, and less potency in improving its services, the government couldn‟t execute its role well and public failure would happen. Similarly, on the part of the private sector, market failure, naturally begets challenging problems hindering investment and dwindling their profit the same. For the need to rectify these public and market failures from both sides, both government and private sector has undergone discoveries and come up with an innovative solution, bringing an alternative public infrastructure investment and public service delivery to the government; and a new business venture to the private sector. This modality is called, “Public-Private Partnerships”; PPPs in short. Although it has multifaceted benefits, PPP is not a panacea. Due to the complex nature of infrastructure projects, the involvement of various stakeholders, and the requirement of long term commitments, PPPs are sophisticated. PPP projects pass through robust economic analysis, complex negotiations, intense public scrutiny, long-term commitment, skillful design of frameworks, etc. For this, designing dedicated frameworks is indispensable. For this, Ethiopia has formulated dedicated PPP frameworks. However, among other things, the frameworks suffer from a lack of inclusive participation of stakeholders and engagement since the policy process; lack of public disclosure requirements; over-inclination to economic infrastructures and mega projects; narrow space for sustainable development, human rights, and pro-poor growth; unbounded government support clauses; inadequate force majeure, renegotiation risk allocation clauses, and; overlapping roles and responsibilities, and lack of line of responsibility with sectoral PPP Units with the PPP Board and PPPDG are identified as shortcomings and this study recommends revision of frameworks with particulars indicated in this report