The CDP Group has signed the first guarantee agreement with the European Commission as part of InvestEU, the plan aiming to mobilise over €370 billion in additional investments by 2027.
The agreement was signed during the meeting between EU Economy Commissioner Paolo Gentiloni and CDP CEO Dario Scannapieco at our headquarters in Via Goito.
The agreement provides for a Commission guarantee of up to €260 million in favour of CDP Equity to support investments in the venture capital market totalling €520 million.
CDP began the accreditation process to become a European Commission executive partner in 2020 and in recent months signed the first agreement in Brussels for strategic advisory activities.
Dario Scannapieco said, "The agreement signed today underlines CDP's excellent work in optimising synergies with European institutions in order to access funds that are vital for Italy's continued economic, environmental, entrepreneurial and social development".
Paolo Gentiloni, Commissioner for the Economy, said, "I would like to warmly congratulate the CDP Group on becoming the first national promotional institution to sign a guarantee agreement with the Commission under the InvestEU framework. This agreement paves the way for €520 million in investments to support the venture capital industry in Italy, nurturing the innovative companies we need to drive future growth and job creation."