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Cdp, here's what to do: accelerator on construction sites and fund for launch



The role of Cassa Depositi e Prestiti is taking shape as an arm for development according to the Lega-M5S government's vision. The industrial plan developed by the new CEO, Fabrizio Palermo, 47

Fabrizio Palermo, 47, CEO of Cdp (Imago Economics)
Fabrizio Palermo, 47, CEO of Cdp (Imago Economics)

Years, which must be approved by the Board at the beginning of December, would provide some financial support to the state, starting in the hope of paying corporate loans to public administration as well as national and European Structural Funds.

Among other parts of the plan – expected yesterday by the agency Agi – According to some draft, the emergence of an infrastructure accelerator, that is, a unit supporting public administration for the development of infrastructure plans – water, local public transport, waste and urban development of large cities, including through preparation and management of calls for tenders and exploitation of opportunities as EU funds offer to mobilize public and private investment. The plans also include the creation of a stabilization fund to finance start-up (an advance measure of the late Pentastellato subordinate to the Presidency of the Council, Stefano Buffagni, to the general states for credit in Milan) and the creation of private equity funds to attract private capital. The plan also provides the opportunity to create a public control room for direct investment and increase resources.

This is the industrial definition of what politically, according to the Lega and Cinquestelle government contract, must be the role of Cdp as a public investment bank, albeit within the framework of the Charter of

Giuseppe Guzzetti, Chairman of Cariplo and Acri (Imago Economics)
Giuseppe Guzzetti, Chairman of Cariplo and Acri (Imago Economics)

Cassa – which can not be a bank in a strict sense not to fall within the credit restrictions of credit institutions – the protection of minority shareholders, that is, the founders, who have about 16 percent and, above all, to protect Cassa, to postal savings. a fixed point on which the foundations do not intend to cede, as confirmed by Friday Giuseppe Guzzetti, President of Fondazione Cariplo and Dell Acri: We want Cassa to perform its function, its role in accordance with the statutes and without entering into adventurous operations. We have said no to Alitalia because the law prohibits it: Cdp can not enter companies that are lost and which may adversely affect the fund, such as losses or future risks.

Within these efforts, Palermo-based CdP is studying the opportunities to strengthen the efforts on the territory and for the benefit of growth. For example, one of the hypotheses that CdP supports public administration is through an increase of financial instruments that will cover the development of the cash contract,

Massimo Tononi, Head of Cdp (Imago Economics)
Massimo Tononi, Head of Cdp (Imago Economics)

expectation of the Structural Funds and the expectation of PA's debts. These are indications from the pictures in the draft 2019-2023 business plan for Cdp circulated yesterday. The body organized by Massimo Tononi and controlled by the Treasury also provides an expansion of support services for the management of national and European public funds and identification of optimization opportunities in the management of public agencies' budgets. Finally, support is given to the digitization process to and from the administration.

Cdp will also develop urban development plans for at least six major cities (Genoa, Turin, Venice, Rome, Naples and Palermo) to be implemented in cooperation with the administration. The restructuring of the properties owned by Cdp and the support for the construction of local infrastructure is also planned.

The plan will also clarify the role of CdP in the politically warmer matches such as privatization – during the last few days of the transition of Leonardo da Vinci, Enav and 3.3% of Eni in the hands of the treasury, the procurement hypothesis of state buildings and the possible creation of a only fiber optic network company between Tim (Cdp has 5%) and Open Fiber, halfway between Cassa Depositi and Enel.

November 17, 2018 (change November 17, 2018 | 22:32)

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