The CDA of Cassa Depositi e Prestiti has approved the 2016-2020 business plan under which 160 billion of resources to support the growth of Italy.
"I have never seen interest in the Italian 'card' on the part of investors at the moment, so we must take advantage of it", underlined the president of Cdp Claudio Costamagna in presenting the new plan. In addition to its financing package, thanks to its status as a national promotional institution, the CDP will be able to attract another 100 billion, domestic and foreign, public and private.
The additional 100 billion will be mainly generated from three sources: access to resources made available by EU and Bei, also in the framework of the Juncker plan; co-financing with other financial intermediaries, including other "National Promotional Institutions" and the attraction of capital from international and Italian private institutional investors in the form of stable interventions.
PLAN - Going into detail, the business plan envisages 117 billion euros to support businesses, a figure that represents 73% more than the amount allocated in the previous five-year period. Companies will also be supported in all phases of their life cycle with interventions on venture capital, innovation and development, internationalization and relaunch.
More 15 billion will be allocated to support public bodies and the strengthening of the territorial network, in order to counter the limits set by the Internal Stability Pact. “On the one hand, CDP will confirm its role as the primary lender of institutions, on the other it will develop complementary tools to classic mortgages, such as the enhancement of real estate assets and shareholdings in utilities and the optimization of the management and use of EU structural funds . Finally, the group will support the relaunch of international cooperation".
In terms of enhancing public real estate assets, the Plan provides for the development of the Italian real estate market through the role of main operator of social and affordable housing and redevelopment and development processes in strategic areas. The action will also concern tourism, through the enhancement of accommodation facilities to be created with the creation of an ad hoc investment vehicle. Altogether resources are planned for 3,8 billion (+110% compared to what was done in the previous five years). In line with the Plan, CDP will strengthen governance and a greater presence in the area.
METROWEB – “Telecom and Metroweb are still working on the industrial plan to see if an infrastructure that would cover 250 Municipalities makes sense. We haven't seen the final results but they seem to be positive. If we verify the effectiveness of the industrial plan, we will see, we will sit down at the table, there could be an intervention on the shareholding structure or even not". The president of Cdp Claudio Costamagna also spoke on the Metroweb affair, recalling the objectives: “We have two objectives: to favor operators as much as possible to develop the government's ultra-broadband plan and enhance our stake in Metroweb. We speak with all the operators: Telecom, Vodafone, Wind and Enel to understand which structure we can make available and which skills of Metroweb and Cdp". Meetings with Vodafone and Wind are scheduled for next Tuesday
