Urban development through PPPs in the Euro-Mediterranean region

Purpose - The paper presents how public-private cooperation schemes can successfully assist in the implementation of contemporary urban development policies, focusing mainly on the guidelines set by the European Union as well as the cases of three Mediterranean countries: Italy, France and Greece. Design/methodology/approach - The paper approaches the issue of private financing in urban development by analyzing the main advantages of public-private partnerships, the terms under which these co operations can be successful, as well as the way in which some national authorities in the Euro-Mediterranean area have attempted to implement PPPs. Findings - Mediterranean countries are lacking relatively behind concerning the adoption of public - private partnerships for urban development projects. This paper states that public-private financing schemes have the potential of becoming an important tool for promoting urban regeneration in combination with respecting the principle of sustainability. Practical implications - Attempts to encourage public policy makers and local authorities in particular to undertake relevant actions in order to promote partnerships with private institutions in the field of urban development. Originality/value - Provides information on how private financing of urban development projects is being adopted in Southern Europe, thus presenting the different approaches undertaken by each of the countries in question (Italy, France and Greece) in relation to their legislative and administrative and cultural background.