A Quasi Public Corporation is a term that is used to refer to an organization that is created by the government to serve a public function, but operates independently and is not fully controlled by the government. Quasi Public Corporations are often privately operated and have stock that is publicly traded, but also has a public mandate and often has government backing of its debt obligations.
This means that while they are given certain privileges and benefits, such as tax exemptions and access to government funding, they are also subject to certain regulations and oversight. Two examples of quasi-public corporations are Fannie Mae and Freddie Mac, which were both created by the US government to provide access to affordable housing for low-income households. While they have been highly successful in achieving this goal, they have also faced significant criticism and scrutiny, particularly in the wake of the 2008 financial crisis.