From Wednesday 6 May the Cassa Depositi e Prestiti plan will kick off, which will allow local authorities to renegotiate their mortgages. The project is aimed at supporting Municipalities, Provinces, Metropolitan Cities, Unions of Municipalities, Mountain Communities, Regions and Autonomous Provinces in difficulty due to the Coronavirus emergency.
"This is the most extensive mortgage renegotiation operation carried out by CDP in recent years”, underlines the group in a note. In total, the plan will involve 7.200 local authorities for around 135 renegotiable mortgages. The operation, according to the company's calculations, will be able to free up resources for 1,4 billion euros.
Fabrizio Palermo, CEO of Cdp speaks of "an initiative never taken before in such a widespread form which confirms the historical link of Cassa Depositi e Prestiti with the territories and relaunches its role as a key partner of the Public Administration".
Circular number 27 was published on 1.300 April containing indications on operating methods which will allow local authorities to request the renegotiation of their mortgages, while the adhesion period will start on 6 May and will end on 27 May. Each Municipality will be able to consult the list of original loans and the relative renegotiation conditions in a section on the Local Authorities and PA Portal of the CDP website, in which the preliminary and contractual procedure can be fully finalised.
“The operation will allow institutions to free up resources that can be used immediately in the area, which may also be used for the interventions necessary to deal with the epidemiological emergency from Covid-19.
Anyone wishing to explore the issue will be able to do so by participating in the cycle of web seminars organized by Cdp, Anci, Ifel and Upi. The webinars will be aimed at providing support to the administrators and financial services of local authorities on the process, on the documentary aspects and on the terms of joining the operation.
