Region of Calabria, CDP and ABI: 100 million to support local businesses and the local economy

Region of Calabria, CDP and ABI: 100 million to support local businesses and the local economy

Agreement signed to promote capital investments of local businesses in the Region, and to support operating models that will speed up the ecological and digital transition


A new instrument facilitating over 100 million of new investments in Calabria. This is the result of the agreement signed by Cassa Depositi e Prestiti (CDP), the Italian Banking Association Associazione Bancaria Italiana (ABI) and the Region of Calabria, which will use the resources of the Revolving Fund for Businesses (FRI).

The initiative was presented today at the Region’s headquarters by the Regional Councillor for Economic Development in Calabria, Rosario Varì, together with Andrea Nuzzi, Business Director of CDP, and Maurizio Coppola, President of ABI Calabria.

"With the measure we are presenting today – states Varì – the regional strategy aimed at consolidating and attracting production sites in the territory is enriched with a new tool, thanks to which companies will be able to invest in innovation and sustainability, becoming more competitive on international markets and creating employment."

The funding, deployed for the second time at regional level, is for all-sized business, both small and large alike, that are aiming to promote the ecological and digital transition in keeping with the challenges and areas identified by the Region’s Strategy for Intelligent Specialisation.

Though the Revolving Fund for Calabria1, businesses will be able to access a grant, along with subsidised funding  and a loan at market rates2 - Rosario Varì explained: “In an investment, 30% will come from a grant from the Region of Calabria, 10% from the entrepreneur, and the remaining 60% from a loan - half of this loan will be granted under special conditions - by CDP - and the other half at ordinary rates, so banks will be involved”.

Specifically, businesses selected by the Region’s Financial Entity, Fincalabra, will receive direct grants allocated by the Region using up to 35 million of resources from the European Regional Development Fund and European Social Fund Programme and the 2021-27 Development and Cohesion Fund. They will also receive subsidised loans from CDP from the Revolving Fund for Businesses totalling 35 million, as well as loans, for the same amount and duration (up to 10 years), from banks, at market conditions, for an overall 105 million. The amount of eligible investments for each project will range from 750 thousand to 25 million euro.

Rosario Varì added: “This initiative - which we are undertaking together with CDP and ABI, who I thank - will give businesses in Calabria and companies that want to be based there, greater opportunities for accessing the grant, and also subsidised loans for investing in various manufacturing and service sectors, that are strategic for increasing the region’s GDP”.

Based on indications in the Region’s call for applications, which should be published by mid-July, it will be possible to start the procedure for businesses to apply, presumably by mid-September. The banks taking part in the initiative will be listed on the websites of the Region (www.regione.calabria.it), CDP (www.cdp.it) and ABI (www.abi.it). Applications for subsidised funding for investment projects will instead be made through Fincalabra’s online platform.

The President of the Region of Calabria, Roberto Occhiuto, said: “The regional government is committed to providing concrete support to attract new production activities in Calabria and consolidate regional businesses. Since taking office, we have allocated considerable sums for innovation and the digital transition, to increase companies’ competitiveness on Italian and international markets. With this new initiative that will make 100 million euro available, we are certain we can consolidate the business system in Calabria and relaunch the economic growth of our areas in an increasingly convincing and tangible way."

"We are particularly proud to launch such an important initiative as the Revolving Fund for Businesses in Calabria, which is a highly effective way to support the investment plans of local companies with long-term funding. The measure, planned together with the Region, will combine public and private resources, with a view to reaching out to a significant number of small and medium-sized enterprises and to generating a significant ‘leverage effect’. With this new initiative, Cassa Depositi e Prestiti has confirmed its support for modernising the business fabric in the area and, in keeping with the 2025-2027 Strategic Plan, is aiming to have an increasingly important role promoting production in Southern Italy” commented Andrea Nuzzi, Business Director of CDP. 

“This Agreement – declared Maurizio Coppola, President of ABI Calabria – will renew and consolidate strategic cooperation among banks, institutions and businesses. It is a concrete and significant approach to support development projects and help relaunch regional growth in a modern logic of a public/private partnership. These measures will offer tangible benefits in terms of increasing the economic impact of activities and achieving a greater selection and sustainability of projects, thanks to banks also sharing the risk. In addition, using a national instrument is another step forward in the Region’s strategy, which we wholeheartedly support, because it avoids resources being allocated to too may different instruments for each area, which can cause confusion, duplications and operating difficulties, for both businesses and banks”.

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1 Thanks to a grant from the Region of Calabria to lower the capped rate applied by CDP to the FRI loan.
2 The grant, the subsidised loan and the bank loan, will each account for a maximum of 30% of the Investment Programme expenditure eligible for the Region’s subsidised funding.