Anticipazioni di liquidità - Debiti PA | CDP

Liquidity Advances

Through Liquidity Advances, we enable entities to accelerate payments to creditors, to the benefit of the territory.
Amendment

Liquidity Advances (AdL from its Italian initials)

The product, in response to the similar initiative put in place in 2019, aims to accelerate the payments of local and regional authorities, through the granting of cash advances, aimed at the payment of certain, liquid and collectable debts relating to supplies, contracts and obligations for professional services, accrued as at 31 December 2019 and registered in the Platform of Trade Receivables referred to in Article 7 of Decree Law 35/2013.


Who it is aimed at

Regions and Autonomous Provinces (including on behalf of the respective National Health Service bodies), Municipalities, Metropolitan Cities and Provinces.

How this works

Contractual Framework: in compliance with the principles of accessibility, uniformity of treatment, predetermination and non-discrimination, LRAs are granted by CDP under standard conditions, defined in Circular no. 1299

  • AdL application: the preliminary investigation is started with the transmission of the AdL application, containing the quantification of the financial needs, to be submitted between 17 February and 30 April 2020. The AdL application contains attached the list of debts to be paid with the AdL, drawn up using the model generated by the Trade Receivables Platform. The AdL for the payment of off-balance sheet debts is subject to its recognition. Only one AdL application per entity will be allowed.
  • Minimum and maximum amount of the AdL: from a minimum of €5,000 up to (i) for municipalities, provinces and metropolitan cities, 25% of the revenue established in the year 2018, relating to the first three revenue titles in the budget; and (ii) for the regions and autonomous provinces, 5% of the total revenue accruing under the heading “Current revenue of a fiscal, contributory and equalisation nature”, assessed in the year 2018.
  • Disbursement: is made in a lump sum, within 7 working days of the date of the request for payment, with the obligation to pay the creditor companies promptly within 15 days (30 days for debts owed by NHS entities) of receipt of the amounts, with subsequent monitoring of compliance by CDP.
  • Duration of the AdLs: from the date of concession until 30 December 2020.
  • Repayment of Principal: the repayment of the AdL takes place, in whole or in part, with 10 working days’ notice, at each quarterly period (31/3, 30/6, 30/9), once normal liquidity is restored and in any case no later than 30 December 2020.
  • Financial terms and conditions: AdLs are settled at a floating interest rate, equal to the 3-month Euribor plus a spread, applicable to all credit lines, listed and published by CDP on 14 February 2020 on its website.
  • Guarantees: for municipalities, provinces and metropolitan cities: payment delegation from the revenue of the first three budget titles (Article 206 of the TUEL, Consolidated Text on Laws Governing Local Authorities). For the regions and autonomous provinces: guarantees on budget revenue.

 

How to request it

For municipalities, provinces and metropolitan cities, exclusively through the web channel: Online application on the CDP website

For the regions and autonomous provinces, by submitting an application using the appropriate form, exclusively via certified e-mail, at cdpspa@pec.CDP.it
 

Would you like more information?

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