30,000 renegotiation requests for outstanding debt of €7.3 billion, equal to 30% of the total
The loan renegotiation plan for municipalities, provinces and metropolitan cities launched by CDP in early April 2023 has been completed. This is the most extensive operation of its kind carried out in recent years, alongside the plan that was launched to deal with the Covid-19 emergency in 2020.
Around 800 local authorities took part in the initiative and were able to renegotiate more than 30,000 loans for a total outstanding debt of approximately €7.3 billion (30% of the renegotiable total), thereby releasing around €320 million in funds in the 2023-2024 period. These resources can be immediately put to use to make investments across Italy and meet the financial needs associated with the significant increase in energy and raw material costs due to the current international scenario.
The plan was the first time that a fully digital application process was used and involved the whole of Italy: more than 200 authorities took part in the North, over 400 in the South and Islands, and around 150 in Central regions.