Good news for those who have credits against the public administration. From February 17, Cassa Depositi e Prestiti has made the new "liquidity advance" mechanism operational, which will speed up payments due from the public administration as at 31 December 2019, making up for the now traditional delays.
Going into detail, the money made available by Cdp can be used for anticipate payments of “certain, liquid and payable” debts, emphasizes the company, relating to administrations, supplies, contracts and obligations for professional services. The advance can be made both for payments owed by the Regions and autonomous provinces (and by the respective bodies of the National Health Service), and by Municipalities, Provinces and Metropolitan Cities.
The initiative had already been implemented in 2019 and allowed the disbursement of 900 million euros in favor of around 360 institutions for the settlement of 77 thousand invoices.
“Thanks to this initiative it will be possible to offer concrete support to the Public Administration, also generating a positive impact for the economic fabric and local communities”, underlines the note from Cassa Depositi
The money will be disbursed to the individual entities in a single solution, within 7 working days from the date of the disbursement request, with obligation to promptly pay the creditor companies within 15 days (30 days for debts of National Health Service entities) from receipt of the sums.
A measure that will especially benefit businesses who through this mechanism will obtain the liquidation of their credit towards the institutions, without having to incur any ancillary costs. Not only that, there will also be no repercussions on public finance balances and institutions "will benefit from a finite variable rate, currently equal to 0,475%, lower than that envisaged by directive 2011/7/EU (ECB reference rate +8 %)".
