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Cdp has confirmed its key role in local finance by allowing provinces and metropolitan cities to restructure debts amounting to a total of around €4 billion
The new debt restructuring programme will free up over €100 million over the period 2016 to 2020, due to reductions in payment instalments.
The operation – which is classed as an “extraordinary transaction” – falls within the scope of initiatives for the pro-active management of debt that Cdp put in place in 2015, as part of the process of transferring responsibilities that began with the reform of the provinces and metropolitan cities.