Italian banks eye infrastructure and energy

Banca Popolare di Lodi, one of the most powerful private banks in Italy, is interested to consolidate its position on the Romanian market by funding energy, oil and natural gas infrastructure projects, sources close to the bank say. “Banca Popolare di Lodi, the fourth leading commercial bank in Italy, is willing to fund energy infrastructure projects without requiring any security from the Romanian State, but will do this only for financially sound companies,” the quoted sources told Ziarul Financiar. Banca Popolare di Lodi through Efibanca, which it controls, has granted $250 million financing for railway and transport infrastructure projects of the Ministry of Public Works, Transports and Housing over the last five years. The bank sent a letter of intent to the Industry and Resources Ministry in August 2002 stating willingness to grant up to 100 million euros in loans to Romanian companies subordinated to the Ministry. ZF