Article 7: Joint-Ventures and Investments for Development
08/07/2011
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Under article 7 of the Law 49/87, Italian companies which are interested in priority countries for the Italian Cooperation (including Vietnam) can demand soft loans to create joint-ventures for their share in the project.
Main goals of this article are to mobilize financial resources and add capabilities through new Public-Private partnerships to promote an inclusive and sustainable development, giving priority to the creation of jobs and local added value as a synergy with the Italian Cooperation activities.
General conditions require a new Joint-Venture or a capital increase, local partner must control at least 25% of capital, the soft loan can only be asked by the Italian partner and the requesting company must have been active in the same sector of the Joint-Venture for no less than 3 years. The soft loan can go up to 70% of the Italian partner share, for a maximum value of 5 million Euro.
The following sectors fall under art.7: agriculture, breeding, fishery, food-processing, handicraft, general local services and related infrastructures (energy, water, transportation, waste management & ITC), microfinance, services for SME, fair-trade, help to local trade, sustainable tourism, cultural & environmental improvement.
For further information please see the related documents here