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ELTI celebrates its 10th anniversary

Dario Scannapieco (Italy CDP) appointed as new ELTI President

25 Jul 2023

Madrid /Brussels, 20 July 2023 - Today ELTI is celebrating its 10th anniversary in the country of the EU Presidency, Spain. During this occasion ELTI members have elected its new President Dario Scanna-pieco, General Director and CEO of the Italian Cassa Depositi and Prestiti (CDP) for the next 3 years.

National Promotional Banks and Institutions (NPBIs) and public Promotional Banks founded the Euro-pean Long-Term Investors association in Paris in 2013. 10 years later, the association comprises 32 members from 21 EU Member States, 2 candidate countries and in addition 2 International Financial Institutions. The European Investment Bank (EIB) is a permanent Observer in the association. The meeting has also represented the opportunity to validate the new ELTI’s strategic framework for 2023 - 2033, the roadmap that will guide the association actions and priorities for the 10 years to come.

NPBIs provide long-term financial support and advisory services all over Europe. They crowd-in private investors to companies and projects in the fields of SMEs, Innovation, sustainable finance, infrastruc-ture, municipalities, education, or housing. Through their action, NPBIs finance projects in the fields of energy, digitalisation, contrast to climate change, economic growth and resilience in line with na-tional policy priorities.

As public financial service providers owned by national governments in Europe, they are strong and reliable financial partners, capable to design customized financial solutions to respond to their country needs. All NPBIs share European values and they are long-standing, experienced, and strong Imple-menting Partners of EU funds.

At the end of 2022, the combined total assets of ELTI members sum up to 2.7 trillion EUR and last year ELTI members committed new financing for more than 320 bn EUR of which more than 30% was pro-vided for sustainable projects. Some ELTI members are raising funds on international capital markets and issued 15,5 bn EUR in green Bonds and 3.8 bn in social bonds. These impressive figures underline the strong impact of ELTI members’ financial and advisory activities.

Today NPBIs are strong, stabilising, and innovative financial service providers for the benefit of their countries, the economy and the people.

Newly elected ELTI President Dario Scannapieco, General Manager and CEO of the Italian Cassa Depositi e Prestiti - CDP, commented on its mandate and on the 10th anniversary of the association: “It is a great honour for me to have been appointed today as ELTI President, and I would like to warmly thank the former President, Laurent Zylberberg, and all the members of the Association for the trust and support in this journey. ELTI represents 32 National Promotional Banks and Financial Institutions of Europe, having doubled its number of members in just 10 years. This diversity of perspectives, cou-pled with the increased recognition that the association has achieved in many relevant European fora, will represent a key element to keep up with the economic and geopolitical challenges ahead. We have today traced our path for the next 10 years, with new financing commitments for more than 320 bn EUR in 2022, resources that will allow us to strategically support EU strategic objectives, also thanks to a further enlargement to new members. I look forward to chairing ELTI and bringing the Association to the next level - Together we can do more!”

The conference was inaugurated by the Vice-President of the Spanish Government and Minister for Economic Affairs and Digital Transformation, Nadia Calviño, who highlighted the role of promotional banks. “Their role is key to mobilize the necessary public and private investments, supporting compa-nies and fostering sustainable investment projects. The Spanish National Promotional Bank ICO has been key during the Covid-19, to channel public aid through guarantees and other financial instru-ments, and it is also playing a crucial role in the deployment of the Spanish Recovery Plan."