ROME (Reuters) – Italy’s state lender Cassa Depositi e Prestiti (CDP) and its export agency Sace will be authorised to guarantee bank loans this year worth up to 200 billion euros, according to a government draft decree seen by Reuters on Monday.
The Treasury will create a dedicated fund of 1 billion euros for the guarantees intended to soften the economic impact of the coronavirus emergency, the draft said.
Of the 200 billion euros, 30 billion euros ($32.39 billion)will be intended for small and medium-sized companies, the backbone of Italy’s economy.
($1 = 0.9262 euros)
(Reporting by Giuseppe Fonte, writing by Giulia Segreti, editing by Gavin Jones)
