ICO and the Italian bank CDP to collaborate in supporting social housing investments and promoting the development of SMEs in both countries
11 marzo 2025
- The national promotional bodies of Spain and Italy have signed a cooperation agreement to strengthen support for international and European projects
- ICO and CDP held a meeting at the European University Institute in Florence after participating in an open dialogue on innovation financing in Europe organized by the Bank of Italy and the Florence School of Banking and Finance
The President of the Spanish Official Credit Institute (ICO), Manuel Illueca, and the CEO of Cassa Depositi e Prestiti (CDP), Dario Scannapieco, have signed a collaboration agreement between the two financial institutions with a view to supporting international projects and investments aimed at promoting social housing, boosting the development of Spanish and Italian companies and fostering the promotion of European Programmes such as InvestEU.
The two executives held a bilateral meeting at the European University Institute (Florence) in the margins of the annual conference "Financing Growth and Innovation in Europe: Economic and Policy Challenges", organised by the Bank of Italy and the Florence School of Banking and Finance. At this event, Illueca and Scannapieco shared an open dialogue on the way forward for financing innovation in Europe together with other academic and financial voices from the European economic sphere.
On the sidelines of the meetings, the two delegations also visited the Osteria Social Club' project, a flagship CDP initiative in Florence in social and affordable housing, inaugurated five years ago and now home to more than 80 families.
Support for social housing and projects of international interest
The agreement signed between ICO and its Italian counterpart (CDP) establishes a common working framework to support wide-ranging initiatives, such as investments in social housing, or active cooperation for the benefit of the development of companies in both countries, with a special focus on SME-driven projects.
With this signature, both national promotion institutions have committed themselves to strengthen different financing alternatives for projects of considerable international interest, both under European initiatives, as Implementing Partners of the European Union, as well as under the financing schemes of both entities.
Collaboration is also envisaged in activities aimed at strengthening the exchange of experience and know-how, as well as visits or exchanges of professionals from the two institutions.
Historical relationship and reinforcing ties
With this agreement, CDP and ICO continue their long-standing collaboration – which also sees them working together within ELTI, the association that brings together European promotional banks – by sharing various working groups, partnerships, and initiatives at the international level, with the mission of supporting the development of key economic sectors such as sustainability, digitalisation, and sustainable housing.
About ICO
Instituto de Crédito Oficial (ICO) is a public entity attached to the Ministry of Economy, Trade and Enterprise of the Government of Spain. ICO has become a benchmark in financing both SMEs and large investment projects and contributes to sustainable growth by promoting economic activities that, due to their social, cultural, innovative or environmental importance, are worthy of promotion and development. www.ico.es
About CDP
CDP is the Italian National Promotional Institution and the Financial Institution for International Development Cooperation entrusted by the Italian State to foster the sustainable development of Italy and of developing countries and emerging markets. CDP supports economic growth, social inclusiveness and ecological transition by investing in innovation, business competitiveness, infrastructures and local development. According to its 2025-2027 Strategic Plan it is expected to mobilize a total of 170 billion euro investments within 2027.
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