Credit line for the loan grants toward the purchase of new machinery, equipment, capital goods and technologies
The Council of Europe Development Bank (CEB) granted Cassa depositi e prestiti a 150 million-euro credit line for the extension of financing to Italian micro, and small and medium sized businesses (SMEs). The financing will be extended through the banking system and used to purchase new machinery, equipment, capital goods, and equipment, including digital technology, hardware and software.
The CDP-CEB transaction supports CDP’s “Plafond Beni Strumentali”, or “ Capital Goods Fund,” worth 5 billion euros, which was created to boost the competitiveness of Italian SMEs helping them gain credit, while creating jobs. It also enables CDP to maintain the economic conditions for credit to make SMEs borrowing costs as competitive as possible. In the approximately two years since it began operations, the fund has loaned around 3.2 billion euros to 11,000 businesses.
The initiative, the first major CEB operation in Italy in over nine years and the first one with CDP, widens CDP’s cooperation with European institutions to inject liquidity and create competitive conditions in the national productive system. It is one of many instruments CDP provides to support SMEs, with about 30 billion euros disbursed since 2009 and among a wide range of solutions, consistent with its role as National Promotional Institution.
CEB is a "multilateral development bank" created in 1956 by the Member States of the Council of Europe with a mission to support sustainable and equitable growth.