This report lays out key governance challenges in the management of fiscal risks and contingent liabilities in Asia and the Pacific region from public investments in public-private partnerships and state-owned enterprises. It explains how investments in quality infrastructure can tackle issues around overall infrastructure investment gaps, tight fiscal spaces, and rising debt. Designed as a practical resource to help guide decision-makers, the report highlights why prioritizing the efficiency of infrastructure investments can ensure they deliver maximum economic benefits at the lowest cost.