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CDP together with the Emilia Romagna region supports small and medium-sized businesses (SMEs), facilitating the provision of loan guarantees by Confidi
The EuReCa Fund is the new platform created as part of a collaborative project between CDP and the Emilia Romagna region to facilitate access to credit for local SMEs through the support of the Confidi system. Confidi is an Italian acronym that stands for consorzio di garanzia collettiva dei fidi, or "guarantee cooperatives and credit consortia".
The loans help companies achieve medium and long-term economic productivity goals.
Through the new EuReCa Fund, CDP uses its own resources and those of the Emilia-Romagna region to grant a counter-guarantee on portfolios of new guarantees originated by Confidi 106 (the coverage ratio equal to 80% and capped at the first losses equal to 10 %). In this way, it will be possible to support the investments of businesses in machinery, plants, and intangible assets, for which Emilia Romagna will grant non-refundable contributions through a separate aid measure.
CDP will also fully transfer the free use of regional resources to Confidi, which, in turn, will undertake to transfer this benefit to companies.
Thanks to the resources made available, it will be possible to activate a volume of new loans for around €150 million, to support over €175 million of investments.
To access the CDP counter-guarantee, Confidi must present an Expression of Interest by April 19, 2018 on the basis of the requirements and forms defined in the documentation below.
The Emilia-Romagna region entrusted management of the EuReCa Fund to CDP with a special agreement (Press Release -Italian version).