Infrastructure Development and Project Financing as a Drive behind the Economy of South Italy

Catania, July 3, 2003 - The conference "Infrastructure Development and Project Financing as a Drive behind the Economy of South Italy" will be held on Saturday, July 5, 2003 inside the Aula Magna at the Economics Department of the University of Catania.

This conference, organised by the University of Catania in association with the Credito Siciliano, Cofiri Roma and Studio Legale Associato Gitto & Pappalardo, aims to provide also private citizens with a thorough understanding of the project financing as an innovative technique for raising the substantial finance required for projects aimed at satisfying the needs of the entire community.

Project financing initiatives first came into being in Anglo-Saxon countries to satisfy the financial needs of the local economy mainly considering the economic value and technical suitability of the project itself rather than the ability to protect the promoters' interests, as well as those of other parties involved. In 1992, when it was first introduced in Italy, project financing was mainly used for the development and implementation of major projects. It became much better known in 1998, after the legislative reform known as legge 415/98 Merloni ter.

Elita Schillaci, the Faculty of Economics Dean, from the University of Catania, Carlo Negrini, the Vice Chairman and Managing Director of Credito Siciliano, Bruno Messina from Credito Siciliano, Giuseppe Gitto from Studio Legale Associato Gitto & Pappalardo and Andrea Gilardoni from Milan Università Bocconi are attending the conference.