CDP In The European Parliament: Partnerships In Europe To Support Growth

CDP In The European Parliament: Partnerships In Europe To Support Growth

European Commission Vice President Katainen: "CDP is the EU leader in the number of investment platforms put in place under the Juncker Plan"

Rome June 7, 2017

Cassa depositi e prestiti Chief Executive Officer Fabio Gallia and Chief Business Officer Antonella Baldino attended the conference "EFSI 2.0: Investment Platforms as a Silver Bullet?" held yesterday in Brussels at the European Parliament's headquarters to illustrate, alongside European Commission Vice President Jyrki Katainen and the European partners KfW and CDC, the importance of the Juncker Plan as a motor of social and economic growth in the EU - the fundamental role played by the National Promotion Institutes and the challenge for the future.

"The Juncker Plan has the merit of putting the focus of the European agenda on the investment theme, representing the first attempt to create integrated intervention to push aggregate demand," Gallia said.

In Italy, CDP's commitment under the Plan has already reached €5 billion of the €8 billion provided by EFSI (European Fund for Strategic Investments), which is estimated to be able to activate up to €11 billion in the country, largely for the benefit of small and medium-sized businesses.

"I have to compliment Italy with CDP's support for small and medium-sized businesses," said Katainen. "CDP has proven to be one of the most active National Promotional Institutions (NPI) in the development of EIFS, affirming itself as the first in Europe for the number of investment platforms already activated, including ITAtech and the Risk Sharing Platform For SMEs.”

In relation to other European INPs, Gallia stressed the importance of collaboration.  "In Brussels, CDP has already established itself with CDC and KfW, bringing together in single headquarters operational staff to better serve a common goal for Europe by coordinating work more effectively." Gallia also highlighted the need to strengthen the Juncker Plan by focusing on a strategic partnership between CDP and its French and German counterparts so that, through a "more coordinated approach on priorities," it could become the "main tool" to tackle European challenges together.

In light of the proposals for doubling the Juncker Plan (500 billion euros by 2020), Katainen has now secured an even more agile EFSI 2.0.  Negotiations with the EU Council and Parliament should be finalized by the summer break.