La Popular Bank of Vicenza has activated the Export Plafond made available by Cassa depositi e prestiti. The Vicenza institute, which is the first bank to activate the instrument, has thus completed financial transactions concerning two letters of credit for a total amount of 3,5 million euros for the export of goods to India.
Thanks to the activation of the ceiling, the foreign importer was able to pay the debt to the Italian counterpart on sight, obtaining a loan from the foreign bank of reference at competitive conditions, with a spread much lower than 1%, generating a significant benefit in terms of liquidity for both parties involved.
"Banca Popolare di Vicenza's adhesion to the "Export ceiling" of Cassa Depositi e Prestiti - declared Jacob De Francisco, Senior Deputy General Manager of Banca Popolare di Vicenza – confirms the attention and support that our Institute offers to companies that internationalize and export Made in Italy around the world”.
"Thanks to the transaction with Banca Popolare di Vicenza - said the General Manager of CDP, Andrew Novelli – an instrument was launched in which Cassa depositi e prestiti strongly believes, which allows it to support, through the strong synergy with the banking system, even small Italian exporters, the engine of our country's growth. This tool - alongside the "export bank" system, dedicated to transactions of larger amounts - completes CDP's range of offers in the export sector"
