IDB Invest and CDP partner in support of Italian companies investing in the region
Cassa depositi e Prestiti (CDP), in conjunction with the Italian Ministry of Economy and Finance, hosted IDB Invest in Rome today in a meeting to formally launch a co-financing agreement between the two entities. The agreement seeks to identify and ultimately provide financing for new business opportunities for Italian companies in Latin America and the Caribbean.
The event was attended by IDB Invest CEO James P. Scriven and CDP CEO Fabio Gallia, Italian Deputy Minister of Economy and Finance Luigi Casero. It follows the signing of the co-financing agreement between CDP and IDB Invest, which took place on October 13th at the Annual Meetings of the World Bank and the International Monetary Fund in Washington, D.C.
The collaboration between IDB Invest and CDP reflects the commitment to support the internationalization of Italian companies. Through its activity working with CDP Group companies SACE and SIMEST, CDP has created an Italian export and internationalization hub, opening doors for companies looking to expand outside Italy’s borders.
This partnership underscores IDB Invest’s interest to attract investment to the region that will strengthen competitiveness, productivity and job creation, and ultimately contribute to sustainable growth.
About IDB Invest
IDB Invest, the private sector institution of the Inter-American Development Bank (IDB) Group, is a multilateral development bank committed to supporting the private sector in Latin America and the Caribbean. It finances sustainable enterprises and projects to achieve financial results that maximize economic, social and environmental development for the region. With a current portfolio of $11.6 billion under management and 330 clients in 21 countries, IDB Invest works across sectors to provide innovative financial solutions and advisory services that meet the evolving demands of its clients. As of November 2017, IDB Invest is the trade name of the Inter-American Investment Corporation. www.idbinvest.org
Cassa depositi e prestiti (CDP) is the National Promotional Institution that has supported the Italian economy since 1850. It finances public investments, nurtures international cooperation and is the catalyst for the country’s infrastructure growth. It backs Italian enterprises, helping them innovate and grow, while fostering their exports and international expansion. As the primary operator in social and affordable housing, CDP contributes to the growth of the Italian real estate sector and promotes urban transformation. CDP’s important stimulative role in Italy’s economy is evident in its 2016-2020 Business Plan. During this five-year period, CDP will inject €160 billion, plus over €100 billion through public and private funds, into the economy to help drive Italian growth. www.cdp.it