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p.1),telquemodifié par lerèglement (CE, Euratom) n°1700/2003 du22septembre 2003
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COMMISSION
OFTHE
EUROPEAN COMMUNITIES
GeneralSecretariatCOM(80)225 final
Brussels._..^
'2ndMay1980
FOROFFICIAL USEONLY
REQUESTFORASSENT,PURSUANT TOARTICLE56.2a)
OFTHEECSCTREATYTOGRANTING AGLOBALRECONVERSION
LOANTOBANCODINAPOLI(ITALY)
(Communication fromtheCommission totheCouncil)
COM(80)225final

COMMUNICATION TOTHECOUNCIL
Subject:Requestforassent-pursuanttoArticle56.2a0oftheECSC
Treatytograntingaglobalreconversion loantoBancodiNapoli
(Italy).
I.ESSENTIAL INFORMATION
Applicant
Beneficiary
Project
Location
Globalamountofinvestment
Globalloanrequested
JobscreatedBancodiNapoli
V&riousundertakings
Creationandexpansionofsmall
andmediumsizedindustrial and
serviceactivities
ProvinceofNapoli(Campania)
AtleastLit.30billion
»
Lit.15billion <+13.11MEUA)
Atleast700jobs
Interestreduction 3%pointsperyearforthefirstfive
yearson13.11MEUA
II.CONFORMITY WITHARTICLE56OFTHEECSCTREATY
TheprovinceofNaples,withnearlythreemillioninhabitants,isa
regionsufferingfromthemostintractablestructuralproblemsinterms
ofemployment,incomeandproductivity .Inadditionthepresenteconomic
crisisisveryheavilyfeltbothinexistingindustries (redundancies )
andinnewinvestment (presentlynegligible).
Thepresentunemployment rateisover10%ofthelabourforce.In1979
registeredunemployment wasabout220,000.Morethanaquarterofyoung
peopleareunemployed.Inadditionthe'CassaIntegrazione Guadagni 1
covered20millionhoursofindustrialsalarieslastyear.
f!0r,ioncIoddress :Ruede!aLoi200,B-1040Brossels-Telephone350040-358040-Tclegrophicaddrc<.S' «•COMEURBrussels»-
Telex :•COMEURBRU 21877»
k

Redundancies resultingfromindustrialrestructuring intheprovince
havealreadyreachedthenumberof15,000.
InviewofthatsituationtheCommissionhasdecidedtoimplementits
firstintegratedoperationfortheNaplesconurbation .Thisinitiative
aimstocallintoplayallCommunityfinancialinstruments inaco­
ordinated way.Therestructuring oftheBagnolisteelplantandthe
presentlyproposedglobalreconversion loanconstituteanessential
partofthiseffortaimingatjobcreation.
Totaljoblossesresultingfromtherestructuring oftheBagnolisteel
plantofItalsiderareplannedatover1,300,sincethelabourforce
willbereducedfrom9,200to7,900men.*Inaddition,theotherECSC
plantsintheprovincewithatotallabourforceofaround3,000will
alsoseeareductionofaround500jobs,•
Inviewoftheseredundancies,additionaleffortsmustbemadetocreate
newjobs,particularly amongsmallandmediumsizedcompaniescapableof
diversifying thelocaleconomicfabricandmakingitlessvulnerable.
III.THEINTERMEDIARY COMPANY
BancodiNapoli,bankofissueupto1926/continuesperforming arole
ofmajorimportancethroughoutItalianregionsandparticularly in
SouthernItaly.Itslegalfeaturesofaninstitution incorporated
underPublicLaw,differingfromthoseofcommercialcompanies,place
itinaparticularpositionvisavisthemostpartofothercredit
institutions.
Amongthemaindistinctive marks,itshouldberememberedthecomposition
oftheGeneralCouncil,theBoardofDirectorsandtheBoardofAuditors,
the'membersofwhichareappointeddirectlybytheGovernmentordue
theirpositiontothefactthattheyholdofficeinparticularpublic
agencies. *
TheGeneralManager,aswell,isnominatedbytheMinisterofTreasury,
afterhehastakenadvicefromtheInterministerial CommitteeforCredit
andSavings(CoffiitatoInterministeriale perilCreditoedilRisparmio).
Moreover,inthecaseofBancodiNapoli,theshareholders equityis
substituted byacapitalofdotationinwhichstatecontributions ,if
any,arechannelled;thereforetherearenoshareholders nordividends
tobedeclared;netprofitsareappropriated tocharitiesandinitiatives
ofculturalinterestfor4/10andtoreservesfor6/10.
Presentmediumandlongtermloansguaranteed bymortgagearewellover
onethousandbillionlireandequityparticipation neartoonehundred
billionlire.Theindustrialcreditsectionrepresentsaboutaquarter
ofthebankactivities .
"TheBancodiNapoliisespeciallywellplacedintheMezzogiorno and
particularly intheprovinceofNapleswithadensenetworkofagencies
whichmakeitpossibletoworkefficientlyforthesmallandmedium
sizedcompanyofthearea.
*Presently1,200jobsaresubcontracted ;by1983300ofthesewillbelost

-3
IV.THEGLOBALLOAN
ThevolumewhichmightbemadeavailabletotheBancodiNapoli
isLit.15billiontocreate700jobsatleast.
Thisloanwillbeissuedininstalments andinproportiontothe
subsidiary loansapproved.Theintermediary companywillsubmit
eachsubsidiary loantotheCommissionforapproval.
Thedecisiononsubsidiary loanswillbetakeninconformity with
thecriteriaandaimspublished bytheCommission (O.J.No.C178/2
of27.7.1977 andO.J.No.C82/8of29.3.1979 )andinparticular with
regardtothenumberofjobscreatedcapableofre-employing ECSC
workersasaconsequence oftheloanandf.ixedinvestmentcapital.
Therateofinterestappliedtoeachinstalmentwillbeapplied,with
interestrebate,tosubsidiary loans.
Thisgloballoan,whichisvalidforthreeyears,willcontributeto
meetingthefinancialrequirements ofsmallandmediumsi-eedfirms,
whichfrequentlyfindmoredifficulty.inborrowingthanlargerconcerns
andwhichusuallyinvestlessperjobthanlargerconcerns.
«
TheBancodiNapoliwillprovidetheCommission withasixmonthly
reportontheusemadeofthisfacility;itwillalsoreportannually
onthere-employment offormerECSCworkersinfirmsfinancedby
wayofthisgloballoan.ThesteelcompanyItalsider andthelocal
employmentauthoritieswillbecloselyinvolvedinthere-employment
effort.
V.INFLUENCE .OFTHELOANONTHERE-EMPLOYMENT OFWORKERS
aItisplannedthatindividualprojectsbenefitting fromaidwillcreate
700newjobsminimumintendedforformerECSCworkers.Itisimportant
toencourageinvestments outsideECSCsectorsintheprovinceofNaples
inparticular throughsmallandmediumsizedfirms.Shouldthepresent
decisionproveinsufficient ,furtherinstalments couldbeenvisaged.
VI.CONCLUSIONS
a)TheCommission considersthattherequestcomplieswithArticle
562.a)oftheECSCTreaty.Inconsequence,ithasauthorised
thegranttotheBancodiNapoliofaglobalLoanofLit.15billion
(+13.11MEUA)oritsequivalent amount.Interestrebateof
393,000EUAperannumwillbegrantedforthefirstfiveyears
following payment/paymentsoftheloan.
b)TheCommissioninvitestheCounciltoagreewiththisdecision.