Part I

Contracts under which publicly funded investments are carried out with private financing may include certain obligations on the part of the public partner that have effects similar to those of direct, express public guarantees. Although such indirect guarantee mechanisms are not specifically regulated, the effects they may produce trigger the applicability of certain general legal provisions. This gives rise to several categories of limitations that should be taken into account when public-law legal entities assume such obligations, at least until such obligations are specifically regulated.

Keywords: public guarantees, public funds, public investments, private financing, public deficit and debt, state aid