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CDP-EU agreement, unlocks up to 750 million investments

2023-02-16T18:35:47.749Z


Research and development, ecological transition of companies, social and sustainable infrastructure and affordable social housing projects. These are the axes at the heart of the new 355 million euro guarantee agreement between Cassa Depositi e Prestiti and the European Commission as part of the InvestEU programme.   The agreement, signed in Rome by the European Commissioner for the Economy, Paol


Research and development, ecological transition of companies, social and sustainable infrastructure and affordable social housing projects.

These are the axes at the heart of the new 355 million euro guarantee agreement between Cassa Depositi e Prestiti and the European Commission as part of the InvestEU programme.  

The agreement, signed in Rome by the European Commissioner for the Economy, Paolo Gentiloni with the president of CDP, Giovanni Gorno Tempini, and the managing director and general manager, Dario Scannapieco, will release up to 750 million in new loans from the Cassa . 

The InvestEU programme, which is the successor to the Juncker plan for investments, in fact allocates a part of the resources to national promotional banks such as Cdp, which is the only national institution in Europe to have signed three agreements of this type. 

The first, signed in July 2022, mobilized 6.7 million for consultancy activities on investments in social and sustainable infrastructure.

While the second, in October 2022, provided Cdp Equity with a guarantee for a total of 260 million in support of investments intended for the development of Italian venture capital for 520 million.

As executive partners of InvestEu, in the last six months Cdp and Cdp Equity have mobilized a total of over 1.2 billion in investments in consultancy, businesses, startups and social and sustainable infrastructures.

These are operations in line with the Group's 2022-2024 Strategic Plan, which plans to mobilize over 128 billion euros in investments by 2024.

Commissioner Gentiloni indicates in the new agreement "a further step in this somewhat avant-garde collaboration between the Commission and Cassa depositi e prestiti, which is enormously positive, and a sign of confidence".

At the moment "we have signed guarantees with the EIB and with national institutes for 80% of the total envisaged and we are working to strengthen the programme", he anticipates. 

"This agreement is an example of a successful paradigm which aims to combine European and national resources: the financial capabilities of the Union and the ability to

CDP to allocate these resources in the real national economy in an efficient way", comments the CEO and managing director of Cassa depositi e prestiti, Dario Scannapieco. "Today's signing - he continues - strengthens our relations with the European institutions and represents on the one hand the completion of an extraordinary journey within the InvestEU program and on the other the first step of a long-term strategic collaboration between CDP and the EU, which underpins our role as a national promotional institute and our commitment to promote sustainable and inclusive growth in Italy and in Europe".

While the president Gorno Tempini underlines that with this agreement "Cdp expands its ability to invest in the development of the Italian economy, exploiting European resources capable of mobilizing over 1.2 billion euros in total".

"The renewed synergy with the Commission - he explains - will make it possible to guarantee our country further and important instruments, in addition to those already made available by the NextGenerationEU plan, which will make a significant contribution to the country's ambitious growth plans".

In collaboration with:


Cdp

Source: ansa

All life articles on 2023-02-16

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