The CDA of Cassa Depositi e Prestiti has approved two new measures aimed at freeing up resources for local authorities, with the aim of guaranteeing greater financial flexibility and contributing to overcoming the state of emergency in the city of Genoa.
In particular, the Board has authorised new ways to use savings originating from participation in the 2019 renegotiation operations of the mortgages granted to the Metropolitan Cities, and to the Capital Municipalities of the Region or headquarters of the Metropolitan Area. The sums, previously tied to the extinction of any derivatives and the realization of the investments, can now be used without restriction of destination. The approved measure will allow for greater financial flexibility to the benefit of the institutions by providing them with assistance in overcoming budget rigidities. The initiative is part of CDP's activities to support institutions in managing their debt.
CDP then approved the deferral, without charging further interest, of the installments due in 2020 of the loans granted by CDP to the Municipality of Genoa. With this measure, in line with the extension of the state of emergency approved by the Government last July, CDP provides further support to the Municipality to overcome the critical issues resulting from the collapse of the Polcevera viaduct, contributing, more generally, to the strengthening of road connections in the area Ligurian.
The deferment of payment of loan installments due in 2020 will make it possible to free up financial resources to be allocated primarily to overcoming the emergency phase, to the reconstruction of the areas affected by the collapse of the viaduct and to the implementation of initiatives for the revitalization of the territory.
The approved measures reflect the attention paid by CDP to support for the sustainable development of the territories as a driving force for the country's growth and well-being. The Group's activity has in fact been redesigned according to the needs of local communities, through renewed support for public administrations and businesses.
