Cassa Depositi e Prestiti

The Cassa Depositi e Prestiti (CDP ) is an Italian bank which financed mainly projects of public interest. Since 2003, the CDP is a joint stock company, which is 80 % owned by the Ministry of Economy and Finance. The remaining 20 % is held by 66 banking foundations.

Business

The CDP provides investment loans to public entities, in particular to local authorities. As a funding source used in these cases, government-guaranteed postal savings. It also grants private companies long-term, low-interest financing, particularly for infrastructure projects or research projects of strategic public interest. It also supports small and medium-sized enterprises. Also of importance is the management of public investments. The activities of the CDP subject to inter alia the supervision of the Italian Parliament.

History

The Institute was founded in 1850 in Turin as a deposit bank. On the basis of a new legal regime, it also projects funded from 1857, public bodies. After the unification of Italy in 1861 gradually comparable facilities of the old Italian states were taken. 1898, the CDP was as DG (Department) fully integrated into the Ministry of the Treasury. In 1983, the renewed independence in the legal form of an institution under public law. In the train of the conversion into a public limited company in 2003 and a number of foundations have been involved in the Cassa Depositi e Prestiti.