Italy: Bper hands out 30 million to coops

Emiglia Romagna?s Banca Popolare, Ccfs (a financial consortium that promotes the development of cooperatives) and Coop Fond have signed an agreement that will give co-ops a subsidized medium term loan for a total of 30 million euros.

The funds, expected to be of a minimum of 500.000 euros for each individual operation, will go towards new productive investments. ?This agreement?, highlighted Corrado Savigni, the director of the Reggio Emilia Area for the Banca Popolare in Emilia Romagna (Bper), ?will guarantee support to regional economic development, as cooperatives make an important contribution to the local economy. Further, the agreement adds strength to the already solid ties between Bper, cooperative realities and the local territory?.