CDP: New Measures for Municipalities and Areas Affected by 2012 Earthquake

CDP: New Measures for Municipalities and Areas Affected by 2012 Earthquake

Approved two new operations in favor of local administrations to be presented during Roadshow

Rome April 6, 2017

CDP reaffirms its commitment to local authorities with a pair of new measures permitting the renegotiation of 2017 loans and the suspension of loan payments this year for areas affected by a powerful 2012 earthquake. The first initiative enables institutions to restructure debt worth around €23 billion, with a reduction of more than €1 billion in amortization installments during the 2017/2020 period, corresponding to the need to support municipalities in debt management.

The second measure is aimed at local authorities in the Emilia Romagna, Lombardy and Veneto, regions hurt by the earthquake of 2012. It allows administrations of these areas to suspend the repayment of loans installments for 2017, which may correspond, without additional charges, to suspending payments payment for  018 in equal installments over ten years. The initiative covers total installments worth about €60 million out of around €500 million in total debt.

These operations testify to CDP’s dedication to Italy’s towns and cities, as further confirmed by Roadshow "Cassa Depositi e Prestiti con il territorio," a series of meetings on local finance organized by CDP for Local Authorities, starting on April 11. Roadshow presentations will be made in Turin, Aosta, Rome, Salerno, Bari, Bologna, Venice, Milan, and Palermo.

Helping territorial and local governments #wepromotethefuture of Italy and put into action the Business Plan’s guidelines.