Coronavirus emergency loan renegotiations start on 6 May

Coronavirus emergency loan renegotiations start on 6 May

Local authorities will be able to complete the process on CDP's "Local Authorities and PA" portal.

From 6 May, Cassa Depositi e Prestiti will start the new plan for renegotiating loans for local authorities. Intended for Municipalities, Unions of Municipalities, Provinces, Metropolitan Cities, Mountain Communities, Regions and Autonomous Provinces, the initiative is designed to free up budget resources to support local governments in dealing with the Coronavirus emergency. This is the largest loan renegotiation operation carried out by CDP in recent years, intended for over 7,200 local authorities, to free up resources of up to 1.4 billion euros.

The application procedure has been published in Circular no. 1300. CDP will make the list of original loans available to each local authority, during the application period from 6 to 27 May 2020. Relevant economic conditions for renegotiation will be published in the Local Authorities and PA Portal, where the preliminary and contractual procedures can be fully finalised.

In addition, CDP has organised a series of webinars, in collaboration with ANCI, IFEL and UPI, which will start on 30 April. These will be split on a regional basis and will support institutions in the renegotiation process. During the webinars, institutions will be able to ask about the procedure, documentation, and terms for joining the scheme.

The loan renegotiation, which includes an almost total reduction in capital to be repaid in 2020, is part of a package of measures launched by Cassa Depositi e Prestiti in support of companies and public administrations in the context of the Coronavirus emergency, confirming CDP's commitment to Italy, even in the most difficult times.