Italy Minister Says Recovery Plan Hinges on Private Sector Boost

Italy’s plan to kick-start its economy using grants and loans from the European Union’s recovery fund won’t be successful without significant buy-in from private investors, Infrastructure and Mobility Minister Enrico Giovannini warned in an interview.

“Everyone is talking just about public funds, but that’s a distorted view,” the minister said. In a bid to shift the focus more toward a mix of public and private funding, Giovannini is setting up a commission within his ministry to explore ways to use other financial instruments for investment.

The ministry has joint responsibility for investing 40.7 billion euros ($49 billion) of the funding alloted to the country under the Next Generation EU program. Other European and national development programs will add an additional 20 billion euros.

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