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We support, together with the Agricultural , Food, Forestry and Tourism Ministry (MiPAAFT), access of the Italian olive oil Producer Organisations(OP) and Producer Associations (AOP) to credit thanks to the intervention of the banks and the Confidi system.
CDP, using the resources made available by the MiPAAFT, grants a direct and on first demand guarantee, for covering, free of charge, the exposure of the intermediaries that will support the olive oil production industry, with a coverage of 80% and a cap on the first losses of 7%.
The initiative intends to facilitate the access of the OP/AOP to credit, allowing the financial intermediaries selected to obtain a benefit in terms of a lesser absorption of capital required, which should be reflected in an improvement of the financial conditions applied to the final beneficiaries.
The financing, aimed at supporting the working capital of the OP/AOP, will last a maximum of 12 months and have a minimum size of 50,000 Euros.
Thanks to the resources made available by the MiPAAFT it will be possible to activate a volume of new financing for over 140 million Euros; with the involvement of the Italian Online Commodities Exchange (BMTI) it will also be possible to transmit the operations on a regulated online exchange.
To access the CDP counter-guarantee, intermediaries will have to present an Expression of Interest by 2 October 2018, on the basis of the requirements and forms established in the documentation below.