In recent years CDP has allocated resources totalling more than €20 billion, distributed through our partnership with the Italian banking system:
- for the seismic events which occurred in the Abruzzo, Lazio, Marche and Umbria regions, a fund of around 4 billion euros is available to deal with the damage to private property and other economic and productive activities
- 560 million euros have been made available for the payment of suspended taxes for those affected by the same seismic events
- 1.5 billion euros have been earmarked to deal with private property and other economic and productive activities damaged by natural disasters (floods, snowfall, floods, storms, etc.) throughout Italy with effect from March 2013.
- 12 billion euros was allocated to help with rebuilding in areas of Emilia-Romagna, Veneto and Lombardy affected by the May 2012 earthquake and to support the recovery of business activity in the area.
The resources are divided into two separate funds, each of 6 billion euros:
- The 2012 Earthquake Reconstruction Fund - provided funding for banks to grant subsidised loans to persons affected by the earthquake, to allow them to repair, restore (with earthquake protection) and rebuild residential and commercial property, as well as to pay compensation for damage to capital goods to businesses and for the re-establishment of damaged inventories and temporary relocations of affected companies.
- The 2012 Earthquake Moratorium Fund - provided targeted funding for banks for payment deferrals on taxes, social security contributions and mandatory insurance premiums, due from May 2012 to 15 November 2013. Those that suffered direct and economic damage were eligible for this initiative.
- 2 billion euros was made available to assist with the rebuilding of homes destroyed or damaged by the 2009 Abruzzo earthquake.
- 90 million euros was made available in municipalities of the Sardinia region, affected by exceptional weather events in November 2013, in the form of funds provided to banks for the disbursement of loans to be used for deferred tax payments, falling due in the period between 18 November 2013 and 20 December 2013 (“Sardinia Moratorium Fund”).