Italian investment bank Cassa
Depositi e Prestiti (CDP) will "promote collaborations between
European and national stakeholders, including other public
development banks" to facilitate the realization of the Recovery
Plan, CDP President Giovanni Gorno Tempini said on Tuesday.
Opening a summit entitled 'Finance in Common', Gorno added
that "the future has many challenges in store that, today like
never before, require collaboration to be overcome".
The meeting taking place on Tuesday and Wednesday features
representatives of the main European public development banks.
"Public development banks should unite and collaborate with
all stakeholders for a more ecological and equal model of
development," he said.
Opening the summit, the president of CDP noted that the
pandemic and the subsequent socio-economic crisis have produced
a deep and long-lasting impact at a global level, "amplifying
vulnerabilities and inequalities and highlighting the urgent
need to reconsider our development models".
Given the situation, he recalled that public development
banks have been very active in the most difficult phase of the
crisis to support the economy, providing counter-cyclical
investments that allowed to reach short-term targets and to lay
the groundwork for the subsequent recovery.
"Now that global macroeconomic perspectives are finally
returning to be positive, with the majority of countries set to
reach pre-COVID-19 GDP levels in 2022, there is a need to set
the base for a more balanced, equal and sustainable growth", he
recommended.
Operating in over 150 countries and moving 10% of world
investments, the over 500 public development banks present at a
national, regional, international and multilateral level "find
themselves in a unique position to reach this target", he said.
Gorno then highlighted that in Europe, in particular, public
development banks "will be asked to become partners for the
realization of the Next Generation EU plan, an opportunity not
to be missed". (ANSA) (ANSAmed).
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