Cdp: injection of 34.6 billion, we will help the country to get back up

Cdp to deal with the emergency Covid-19 puts in place "extraordinary measures". The Board of Directors of Cassa Depositi e Prestiti has approved "the largest mortgage renegotiation operation carried out in recent years which will involve 7,200 local authorities", which "will be able to renegotiate around 135 thousand loans for a total residual debt of € 34 billion. In detail, "Cdp offers financial support to Municipalities, Metropolitan Cities, Provinces and Regions to deal with the emergency with the largest renegotiation operation carried out in recent years by the Group: 7,200 entities will be able to renegotiate around 135 thousand loans for a residual debt total of 34 billion euros. The measure will make it possible to free up resources, in 2020, of up to 1.4 billion euros, which institutions will also be able to allocate to interventions to deal with the epidemiological emergency from Covid-19 ".

A loan of up to € 2 billion "to support the financial needs of medium and large companies (indicatively with turnover in excess of € 50 million) for temporary liquidity needs, support for working capital and support for investments envisaged by the development plans of the companies ". This is the new line of operations by Cdp, which explains: "the initiative intends to provide immediate liquidity to companies pending the operational start of the guarantee mechanisms envisaged by the Cura Italia decree".

The power of savings that we have been collecting for 170 years, thanks to the Italians, helps the country to grow and rise, to support businesses, territories and communities. An enormous value that, once again, will give us the push to start again ", says the CEO of Cdp, Fabrizio Palermo." Postal collection - which we intend to protect and strengthen, using it in an anti-cyclical key - has recorded the best performance of the last 5 years "." The group - he adds - is continuing, in concert with the MEF, to support companies, the public administration and infrastructure development with exceptional measures "." After the 17 billion already put in place, we have deliberated further interventions overtime that will free up 1.4 billion euros in favor of 7,200 public bodies and immediately make 2 billion euros available for the liquidity needs of medium and large companies ".