In spite of social and economic difficulties, that Ukraine is facing, the country remains a highly promising market for private companies to participate in construction of new and reconstruction of existing public infrastructure. Public-private partnership (PPP) is increasingly recognised in Ukraine as an innovative legal tool to accelerate private participation in infrastructure through effective risk sharing between public and private partners. This article provides a general overview of the Ukrainian legal environment relating to PPP and specific problems in the area.  While preparing this article we tried to combine our specific knowledge of the Ukrainian legal and regulatory framework and the extensive experience in advising international investors on various infrastructure projects in Ukraine. With this purpose, the article provides a number of key examples from the Ukrainian practice in order to demonstrate the main challenges and obstacles blocking successful development of PPP in the country.