Govt okays 900mn bailout of Banca Popolare di Bari

(ANSA) - Rome, December 16 - Premier Giuseppe Conte's government on Sunday approved a 900-million-euro bailout of southern Italian lender Banca Popolare di Bari.
    The money has been allocated to Invitalia to finance Mediocredito Centrale (MCC) and enable it to buy a stake in Banca Popolare di Bari. The aim is to create an investment bank that can support business in Italy's less wealthy southern regions. Banca Popolare di Bari was put into administration on Friday after saying it urgently needed a big capital increase. The rescue has caused tension within Conte's ruling coalition. In the past the 5-Star Movement (M5S) was highly critical of bank bailouts organized by previous governments led by its current coalition partner, the centre-left Democratic Party (PD).