Cassa Depositi e Prestiti, through CDP Equity, signed the first guarantee agreement with the European Commission within the InvestEU plan: instrument that aims to mobilize over 370 billion in additional investments by 2027 throughout the Union. The refinement took place on the occasion of a meeting held in Rome, at the CDP headquarters, between the EU Commissioner for the Economy Paolo Gentiloni and the CEO and general manager of CDP Dario Scannapieco.
“This agreement paves the way for investments of €520 million that will support Italy's venture capital sector, fueling the innovative businesses we need to drive growth and job creation in the future,” he stressed. Gentiloni.
“The role of implementing partner of the Commission and the primacy in the signing of the two agreements for the management of part of the funds made available by InvestEU is significant of the commitment to further raise the level of new resources, especially in key sectors such as Advisory and venture capital, which are key areas for the growth of our economy,” he added Slaughterhouse.
CDP: guarantee agreement with the EU Commission
The CDP Group is the first national promotional institution in Europe to have concluded a guarantee agreement with the European Commission under the InvestEU Programme. The agreement provides for a guarantee from the Commission of up to 260 million in favor of CDP Equity to support investments dedicated to the development of Italian Venture Capital for a total of 520 million.
The accreditation process to become an executive partner of the European Commission was started by the CDP Group in 2020 and had already led three months ago to the signing in Brussels of the first advisory agreement for strategic consulting activities.
The InvestEU Plan
Il InvestEu programme, explains a note from the Cassa, succeeds the previous Investment Plan for Europe investment stimulus program and has a total EU budget guarantee of around 26 billion, of which 75% is intended to cover investments made by the EIB Group (EIB and EIF); the remaining 25% is reserved for national promotional institutions in Europe, such as CDP, and international financial institutions active in Europe.
