Public Private Partnerships (PPP) schemes, when protected by public guarantees, do not allow to skim projects and “white elephants” may occur.

A group of Bocconi Masters of Public Administration students, working in the framework of the first capstone project between the EIB and SDA Bocconi and with the support of Professor Veronica Vecchi, studied how the Veneto Region renegotiated the Pedemontana Veneta PPP project, by eliminating the minimum revenue guarantee and introducing an availability fee payment (“Competencies and Politicization in Public-Private Partnerships and Infrastructure Development: The Case of the Pedemontana Veneta“).

The capstone was the occasion to discuss crucial issues for successful PPPs, such as the right approach to conduct a strong and unbiased Value for Money analysis considering pros and cons of the standard UK approach as well as other possible approaches aiming at avoiding affordability gap during contract execution.

The discussion also took into consideration the crucial role of management of contracts and the necessity of an independent evaluation to support local authorities, at national and regional level, and help them make more sustainable decisions.

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EIB Vice-President Dario Scannapieco




Prof. Veronica Vecchi