OREANDA-NEWS. Fitch Ratings says it expects regional development agencies (RDAs) in Italy to take on a bigger role in implementing anti-cyclical and development policies to help regions post balanced budgets from 2015 as mandated by national legislation.

The regions have decentralised some of their responsibilities to RDAs, ranging from managing guarantee funds, supporting credit, employment, innovation and internationalisation of local SMEs.

Fitch also sees RDAs increasingly promoting SMEs' access to capital markets, in particular the still feeble market of SME mini-bonds, for example, through mutual guarantees with regions or RDAs taking the first loss up to 80% on loans to SMEs.

The full comment, 'Italian Regional Development Agencies. Growing Support to Complement Regional Economic Recovery', is available on www.fitchratings.com.