Postponement for 33 million euros in local loan payments given okay. New fund households and businesses credit
Cassa depositi e prestiti gave the greenlight to local authorities in areas hit by the August earthquake in central Italy to delay 33 million euros of loan payments in order to free up resources for reconstruction.
The decision by the CDP board of directors permits payment postponements without penalties on installments due in 2016 and 2017 on costs associated with around 275 million of loans.
CDP also approved a new fund – to be paid for by the state - to help families affected by the 24 August earthquake. CDP is now ready to make available necessary reconstruction resources to inhabitants of the concerned territories, which will be defined by the 2017 state budget, following quantification of damages.
This operation is in addition to the numerous measures already taken by CDP to benefit communities affected by natural disasters. Over the last seven years, CDP has allocated about 16 billion euros for this purpose: 2 billion euros to rebuild homes damaged or destroyed by the 2009 earthquake in Abruzzo; 12 billion euros for reconstruction and the resumption of economic activities in the Emilia-Romagna, Lombardy and Veneto regions following an earthquake in 2012; 90 million euros for the granting of soft loans to the municipalities affected by the flooding in Sardinia in 2013; 1.5 billion euros for a number of emergency situations that occurred from 2013 throughout Italy.