Public-Private Partnerships: Governance Models for Territorial Development

The article examines the growing importance of public-private partnerships (PPP) in Italy's territorial development, emphasizing the need for effective governance models that balance public and private interests. It argues that PPPs encompass a wide range of configurations, from project financing and concessions to mixed-capital companies, trusts, and foundations. The author identifies two main categories of difficulties: excessive formal rigidity and lack of expertise in project-based partnerships, and political instability in stable legal entities like foundations. The latter is particularly insidious as issues remain hidden within boards and fiduciary relationships. The article calls for performance indicators to assess whether organizations contribute to the common good, proposing simple, verifiable questions about objectives, target audiences, and operational strategies. It warns that without proper management, the current wave of hybrid entities handling significant resources could lead to increased public debt. The piece is authored by Stefano Monti, partner at Monti&Taft, and published on Artribune.