Development+: €70 million for businesses in cooperation partner countries

Development+: €70 million for businesses in cooperation partner countries

The goal of “Development +”, a new scheme from the Revolving Fund for Development Cooperation (FRCS), is to fund businesses that invest in the development of Italy's partner nations, boosting environmental and social sustainability. The initiative has been launched by the Ministry of Foreign Affairs and International Cooperation (MAECI), working with the Ministry for the Economy and Finance (MEF) and receiving practical assistance from the Italian Agency for Development Cooperation (AICS) and Cassa Depositi e Prestiti (CDP).

The FRCS’s new programme, with a budget of €70 million, will provide medium to long-term loans to companies in Italy, Europe or developing nations that have an office (including branch offices) in Italy. The loans are intended to bolster the capital of businesses, including startups, in OECD - DAC Partner Countries. The funds will boost local business growth, encouraging projects that drive sustainable development and create jobs, while adhering to local laws and international labour standards.

The new scheme will respond to varying needs, being able to provide financing of between €250,000 and €10 million for terms ranging from 3 to 15 years. Priority will be given to applications from small and medium-sized enterprises (SMEs) and to initiatives mainly located in Italian Cooperation Partner Countries, to which 50% of the total budget has been reserved.

“Sviluppo+, the new FRCS scheme for businesses, enables to CDP to ramp up its support for companies operating in Cooperation Partner Countries, working in coordination with the Italian Development Cooperation System and generating a positive impact on environmental and social sustainability. Increasing business capitalisation by facilitating the involvement of Italian and European companies is a crucial way to foster a virtuous partnership model that can guarantee lasting local development, with significant benefits also on the employment front,” comments Paolo Lombardo, CDP’s Director of International Development Cooperation.

Operational information.

Applications can be sent according to procedures outlined here: