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ITALY - Promos chairman launches infrastructure fund

Francinia
02 July 2008

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According to reports, a new EUR 700m infrastructure fund has been launched by the chairman of Promos, Bruno Ermolli. The fund will seek to invest in the development of roads, highways and similar infrastructure between Italy and countries south of the Mediterranean, in particular Morocco, Tunisia, and Egypt.

The initiative is supported by several major Italian financial institutions lead by Intesa Sanpaolo, Generali Ass and Unicredit, along with a pool of North African banks, including the Banque Populaire du Maroc, the Union of Arab banks and the Saudit-Italian Development Company, together with the European Investment Bank.

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