Dario Scannapieco (CDP): Italy Will Become More Competitive After PNRR

Cassa depositi e prestiti (CDP): record profits in 2023, over €3 billion

Dario Scannapieco

Dario Scannapieco, CEO of Deposit and Loan Fund (Cassa depositi e prestiti, CDP) since 2021, whose mandate expires next month, said Italy will become increasingly competitive after the PNRR (National Recovery and Resilience Plan). “I am confident and convinced,” Scannapieco said in a lengthy interview with Italian newspaper Corriere della Sera, “that after the PNRR, Italy will become a more competitive country, not only as a result of the Plan’s investments, but also because of the reforms and new spending procedures it has introduced.”

Under Scannapieco’s leadership, CDP ended 2023 with more than $3 billion in profits, a record result: “The result, driven by higher interest rates, prudent cost policies, and investee dividends, is intended partly for Treasury dividends and partly for capital appreciation and loans provided. The latter is an important aspect at a time when the financial system is lending to customers,” emphasized the CEO, recalling CDP’s large commitment in this area, where “we are helping 17 central administrations to implement 90 measures worth about 50 billion dollars, as well as many local administrations.”

As part of the internationalization process, CDP opened its first headquarters in a non-EU country in Belgrade, the capital of Serbia, on February 1, 2024. On this occasion, Scannapieco was received by the President of Serbia, Aleksandar Vucic, to whom the CEO presented the activities of the new office in Belgrade and illustrated the strategy that CDP intends to implement for “supporting Serbia’s public and private sectors in favor of sustainable and inclusive growth.”

Scannapieco’s mandate expires in May, but according to many reliable sources, he will be reaffirmed: “That’s a decision the shareholders will make,” Scannapieco noted, however. “I am and remain a public servant. I am satisfied with what has been done in these three years at CDP, I think in particular about the group’s role in Europe, which has made it possible to attract more than a billion euros of EU funds to Italy, also confirming the reliability of the country’s system. This role is confirmed by the decision of ELTI (European Long Term Investors Association) members to appoint me as President. But I realize that the work at CDP is not complete. We must strengthen public administration support activities to further facilitate the implementation of investment and hence GDP growth.”