Italy’s state-owned lender Cassa Depositi e Prestiti SpA will use a 20 billion-euro ($24.5 billion) loan obtained by the European Central Bank to support the country’s economy, Chairman Franco Bassanini told Il Sole 24 Ore in an interview.
The lender used the ECB’s long-term financing operation earlier this year to obtain the loan at a rate of 1 percent, Bassanini was cited as saying in the interview. The CDP will use the money to fund infrastructure projects and back small and medium-size companies, Bassanini also said, according to Sole.
To contact the reporter on this story: Lorenzo Totaro in Rome at email@example.com
To contact the editor responsible for this story: Dick Schumacher at firstname.lastname@example.org