Cassa Depositi e Prestiti , European Bank is preferably used for Reconstruction and Development renew the agreement to support businesses in the Western Balkans. At the heart of the renewal at the heart of the renewal of the Memorandum of Understanding (MoU): collaborate in joint finance initiatives for development and for the climate, promote the growth and sustainable internationalization of companies and expand common projects within the programs of the European Commission.
In particular, the collaboration aims to promote joint initiatives for growth of the SMEs and for the development of new commercial relations between Italian companies and those of countries of common interest between the two institutions, also through the use of CDP Business Matching platform; on the other through the co-financing of projects of decarbonization and adaptation and resilience to climate change. The agreement also aims to increase collaboration in the field of European resource management as implementing partners of EU programmes, the Western Balkans Investment Framework and the Green Climate Fund, managed by CDP.
First joint investment between CDP and EBRD
Furthermore, the collaboration was further developed through the signing of the first investment joint effort between CDP and the EBRD in the "Enterprise Expansion Fund II" (ENEF II), aimed at supporting the growth of local companies in the Western Balkans and the improvement of their Environmental, Social and Governance (ESG) performance. CDP and EBRD will be the main investors of the Fund with a contribution of 19 million euro each, supported by resources from the European Commission for a further 19 million euro and from the German financial institution KfW for 10 million euro. Overall, it is estimated that the Fund will channel up to 100 million euros of financing to the benefit of local businesses by 2027.
"The renewal of the Memorandum with the EBRD reaffirms the importance of bilateral collaboration between national and supranational development financial institutions - he declared Dario Scannapieco, Chief Executive Officer and General Manager of CDP –. Working jointly on sustainable entrepreneurial growth projects and climate finance initiatives amplifies the scope of available resources, producing a multiplier effect on the impact that can be generated in key territories for Italy, such as the Western Balkans and the South Mediterranean Oriental."
Also Odile Renaud-Basso, EBRD President, said: “I am pleased to sign this MoU with CDP, which reaffirms our common priorities in promoting the development of SMEs and green, low-carbon projects and supporting the effects of climate change, maximizing at the same time synergies through cooperation with Italian companies that invest in the economies in which we operate, especially in the Western Balkans. Our engagement through the ENEF II bespoke financing facility will help spur private sector innovation and sustainability efforts, which are essential for economic resilience.”
