Natural disaster funds: 1.5 billion euros for reconstruction

Natural disaster funds: 1.5 billion euros for reconstruction

CDP-Abi agreement helps damaged homes and businesses with subsidized loans

Rome, November 17, 2016

In recent years,  natural disasters have put parts of Italy in serious economic difficulty. Starting today, CDP will provide support to affected areas through an agreement signed with Abi (Italian Banking Association) which grants citizens and entrepreneurs access to the fund worth 1.5 billion-euros and dedicated to subsidized funding.

The resources provided by this fund are intended for private homes and businesses damaged by natural disasters (floods, snowfalls, floods, storms, etc) that occurred from March 2013.

The convention between the CDP and Abi is essential to support the population in reconstruction activities. As a result of this initiative, Abi member banks can access the funding to grant loans with a maximum duration of 25 years, without redemption costs by beneficiaries (which give the banks the tax credit recognized in law).

The funding reaffirms the support CDP gives to Italian citizens and businesses and promotes the reconstruction process, with a view to development, growth and the future.