120 Million to Municipalities for Creditors’ Payment

The resolution that sets forth the allocation for applicant Municipalities of 120 million Euros to implement the transfer of financial benefits between Region and Local Authorities, has been published in the Official Journal. The sum is added to the 98 million Euros already transferred in August for a total amount of 218 million Euros.

115 among Municipalities and Provinces (in this case Benevento) that applied for within time limits will benefit from this amount.

Based on a report of understanding signed by Regional Minister for Budget Giancane and Regional Minister for local Autonomies Sommese with ANCI (Italian Associations of Municipalities) and UPI (Italian Union of Provinces) it was decided to take into consideration only applications submitted by 31 August for the quota not allocated requested quota and by 15 September for the whole quota.

President of Regione Campania Stefano Caldor pointed out: “Through this measure, Autonomies are given fresh air; they can now answer businesses”.

Beneficiary local authorities will have the opportunity to use these funds to reduce their investment expense related debt – President Caldoro concluded.

Regional Minister for Budget Giancane stated: “We move resources from current expenditure, that are unproductive, to capital expenditure, giving the opportunity to local institutional levels to promote investment re-launch by satisfying creditors”.

It’s a key decision taken by the Executive Board led by Caldoro that shows once more to be close to local authorities, meeting their needs – Regional Minister for local Autonomies Pasquale Sommese added.