Laguardia: 'A mistake to scuttle project finance: it is the way to revive unrealised Pnrr projects'
The vice-president and director of Legacoop Produzione e Servizi speaks. Closing the national assembly in Calabria, the association of cooperatives calls for more action in Southern Italy
Project finance, price revision, industrial policies and the South: the vice-president of Legacoop Produzione e Servizi is just back from the national assembly that this year, not by chance, took place in Calabria, in that South that the cooperatives are clamouring to protect. Investing in the South - they claim - means investing in the country. For the vice-president and director Andrea Laguardia, this is a priority, as is the defence of project finance, which is currently the subject of a clash with the European Commission. But the dossier of the Legacoop cooperative world is longer.
Vice-President, let's start with the rules of the game. Brussels has opened an infringement procedure against Italy on the project finance discipline - in particular on the right of first refusal. How did you greet this news and what impact will it have on companies and consortia?
As is often the case, Europe intervenes in a bureaucratic manner, without taking into account the needs of the member states and the needs of businesses. On the contrary, we believe that project finance should be encouraged as the main instrument of public-private collaboration. In recent months we have drawn up an analysis, showing that many public works projects that are not realised with the Pnrr can be revived through PPPs.
And what about the manoeuvre? What impression are you getting?
We are waiting to read the official documents to understand the actual impact on our cooperatives. Especially with regard to the tax exemption on contractual increases, at the moment they seem like bland interventions. We need more courage and more investment to relaunch the economy through structural and not temporary interventions.
Let's come to the price revision. Over the past year you have been arguing a lot about the need to have an update in line with other sectors of the economy. Are there any glimmers of a change in the current rules?


