30 Jul. 2012

RENZO ROSSO SUPPORTS EMILIA REGION

Renzo Rosso, founder of Diesel and president of OTB holding (Only The Brave), is offering €5 million of his personal money with the goal of starting a micro-credit project in support of the people living in the Emilia-Romagna earthquake-afflicted region. Micro-credit operations are aimed at offering small loans to people who are not able to give the usual guarantee asked for by the traditional banking system. This is the first time an Italian entrepreneur is supporting other entrepreneurs, families and people willing to rebuild what the recent earthquake has destroyed.

Renzo Rosso has asked the Etimos Foundation, which coordinated similar post-emergency situations after the Abruzzo earthquake, to take care of the operation. The organization was previously able to raise €6 million to support micro-enterprises, start-ups, young people and women's initiatives.