Agreement between CDP and Municipality of Palermo to encourage public-private partnership projects

Agreement between CDP and Municipality of Palermo to encourage public-private partnership projects

Supporting investment programmes by stimulating operational collaboration between public institutions and the private sector, with the aim of promoting the economic, social and cultural development of the local community. That is the goal of the Memorandum of Understanding signed by the Municipality of Palermo and Cassa Depositi e Prestiti (CDP).

This cooperation at an institutional level, lasting two years, will enable the local authority to grasp opportunities stemming from the InvestEU Programme, drawing on the technical and financial support of CDP in its role as an Advisory Partner of the European Commission, within the European Investment Advisory Hub promoted by the European Union.

Specifically, the Municipality of Palermo, in line with its statutory purpose, intends to boost its ability to manage and carry out local activities through public-private partnership (PPP) projects.

CDP's consultancy for the local authority encompasses establishing strategies to involve private entities in delivering municipal investments, including making use of NRRP resources and national or European funds; supporting the analysis of the planned activities, in the preliminary administrative, financial and technical phases, with a particular focus on the ex-ante environmental, social and economic impact assessment; and, in addition, helping with potential interaction with private and institutional stakeholders.

Lastly, the Protocol sets out that, with regard to monitoring the activities to be carried out, the parties undertake to indicate a schedule of meetings to establish, via specific plans, the individual projects of interest to the Municipality and which fall under the cooperation agreement.

"This agreement with Cassa Depositi e Prestiti is undoubtedly strategic for the Municipality of Palermo. It marks the start of a positive pathway with the potential to accelerate public-private partnership projects that will benefit the city thanks to the expert advice provided by the state financial institution. I would like to thank Cassa Depositi e Prestiti for the willingness and enthusiasm it has shown throughout the process undertaken in recent months with the municipal administration. After the signing of the protocol, we now aim to initiate a new phase of collaboration," said the Mayor of Palermo, Roberto Lagalla.
"Supporting the Municipality of Palermo in implementing an investment programme of great significance for the city is a valuable opportunity to demonstrate once again CDP's role as a National Promotional Institute. By launching this collaboration we intend to make our commitment and best expertise available to the local area. Moreover, thanks to our role as Advisory Partner of the InvestEU Programme, we have gained an additional tool that can facilitate access to CDP's services for administrations, thereby continuing our activities to support inclusive development for the benefit of local areas," said Maria Elena Perretti, Head of Advisory at CDP.