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Banking

Veneto Mulls Pension Funds Use For Infrastructure

The local government of Italy’s Veneto region is considering using local pension funds’ resources to support regional infrastructure projects, IPE Real Estate reports.

Andrea Sabbadini of the financial resources department said one option they are considering is using pension funds to help fund infrastructure projects such as motorways, since they are a low-risk investment. Investments could be about EUR2 billion, but foreign pension funds might be allowed to bid too.

Laura Crescentini of Assoprevidenza, the Italian association for supplementary pension provisions, revealed her scepticism about making local investments in small regions. Most are concerned about risk, but Bruno Gabbelieri, secretary general of the European Association of Paritarian Institutions of Social Protection, said a new inter-territorial fund for pension fund investments could help make such investments less risky.

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