Govt's CDP bank doubles export financing

(ANSA) - Rome, February 26 - Italy's publicly owned Cassa Depositi e Prestiti (CDP SpA) bank said Thursday it is increasing investment in export firms by 130%, from 6.5 to 15 billion euros. The measure was contained in the 2014 budget law and provides for all kinds of financing to support Italian exports, the CDP said in a statement. The CDP is authorized to seek co-financing from banks in other countries as well as the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD), and the World Bank.
    "The instruments made possible by the new norms allow the CDP to multiply its efforts in support of exports and the internationalization of Italian companies," said CDP CEO Giovanni Gorno Tempini. "This is the field in which the chances for Italy's economic recovery lie".