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CDP Business Officer Baldino along with Italian Premier Gentiloni and German Chancellor Merkel during a discussion on issues regarding the digital economy
Cassa depositi e prestiti takes action to remedy market failure in areas where, despite the European Central Bank’s moves to boost the supply of bank liquidity, enterprises encounter difficulty gaining access to credit, said CDP Chief Business Officer Antonella Baldino.
Speaking in Berlin at an Italo-German conference on the digital economy, she explained the role CDP has in aiding economic growth with funds from the Investment Plan for Europe, commonly referred to as the Juncker Plan.
“These represent areas of action for us, in particular, with the Italian capital market still underdeveloped, there are small and medium-sized businesses experiencing difficulty gaining accessing to credit, especially those which mostly present an innovative vocation, Baldino said at the conference entitled "Harnessing the Potential of the Digital Transformation for Enterprises - Invest in Our Future."
The conference aimed at creating constructive dialogue between representatives of governments, businesses and German and Italian financial institutions. Germany and Italy, central countries to European industry, are key economic partners in terms of economy and politics. Digital transformation, which increasingly characterizes the world around us, has changed consumption habits and the production of goods and services, contributing to the formation of a new economic ecosystem. The event had a particular focus on opportunities presented in the context of technological change.
The event was attended by distinguished guests from both countries, including Italian Minister of Economic Development Carlo Calenda, and Vincenzo Boccia, president of Confindustria, the largest Italian business lobby. Italian Prime Minister Paolo Gentiloni and the German Chancellor Angela Merkel greeted guests, renewing feelings of political cooperation and economic integration between their countries. "Italy and Germany must continue to work together in the same way as Kfw and CDP, whose cooperation should continue," Merkel said, referring to the collaboration between the CDP and its German counterpart.
Baldino discussed CDP’s partnership,with the European Investment Fund in which they together promoted two initiatives to support Italian companies. With EFSI Thematic Investment Platform, Italian small-to-medium-sized enterprises were allocated 225 million euros, she said. “With ITAtech we have made available €200 million to encourage technology transfer from universities to businesses, with the goal of bridging the imbalance found in Italy between high-quality of scientific research and more than modest amount of funds invested, such as venture capital."
Andrea Nuzzi, CDP manager for financial institutions, took part in the workshop "Financing Investment in Digitalization to Start-Ups", explaining how CDP makes proposals to Italian companies about different forms of support during their entire business life cycle: the promotion of venture capital activities for new companies, tools for growth abroad, and the support provided to companies in difficulty, but still show interesting growth prospects.
The CDP Group, as National Institute of Promotion and consistent with its Business Plan, reaffirms its role providing Italy with economic support, proving itself to be an important partner in Europe and internationally.