Italy state companies to offer ensures for financial institution loans as much as 200 bln euros – draft decree

ROME (Reuters) – Italy’s state lender Cassa Depositi e Prestiti (CDP) and its export company Sace might be authorised to ensure financial institution loans this 12 months price as much as 200 billion euros, based on a authorities draft decree seen by Reuters on Monday.

The Treasury will create a devoted fund of 1 billion euros for the ensures meant to melt the financial impression of the coronavirus emergency, the draft mentioned.

Of the 200 billion euros, 30 billion euros ($32.39 billion)might be meant for small and medium-sized firms, the spine of Italy’s economic system.

($1 = 0.9262 euros)