State and public financing of infrastructure projects: Building solid foundations

The judgment delivered in late 2012 by the Court of Justice in the Leipzig-Halle case has deeply changed the rules governing the public financing of infrastructures. It is now established that the public financing of the construction of an infrastructure falls within the scope of State aid rules. This study is first and foremost a practical guide for investors so that they assess the extent to which the financing of an infrastructure project falls under State aid law, does indeed constitute aid and under what conditions it can be authorized. Above all, it mainly focuses on assessing the consistency and effectiveness of the Commission’s approach in the light of recent developments.

*This article is an automatic translation of the original article, provided here for your convenience. Read the original article. 1. Infrastructures are to economic growth what foundations are to the construction of a building, they ensure its development and solidity. Because they are a prerequisite and a vehicle for achieving a higher level of development, public authorities have always played an essential role in financing and building infrastructure [1]. 2. Traditionally, Member States consider that the financing of infrastructure falls within the scope of economic policy and therefore the responsibility of the State. However, the size of the sums involved combined with the gradual liberalisation of the markets has led the European Commission (hereinafter "Commission") to view this

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