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This loan was issued between 1947 and 1951. It had an interest rate of 3.50% and was redeemable over time. This meant that the principal would be repaid to the investors at set maturities.
The bearer folders of the loan were available in various denominations, ranging from 1,000 to 100,000 lire. This allowed natural and legal persons to subscribe according to their financial means.
The folders were blue in colour and featured the design of a turreted Italy, created by the artist R. Garresi. The turreted Italy is a traditional iconography representing Italy as a female figure with a turreted crown or tower on her head, symbolising sovereignty and authority.
An important aspect of this loan was the tax exemption. This meant that the interest earned on the investment in this loan was tax-free. This tax incentive was introduced to encourage investor participation and support the country's reconstruction efforts.
The 1947 Reconstruction Loan was a way for the Italian state to mobilise financial resources to tackle the difficult post-war reconstruction phase. By participating in the loan, investors contributed to the reconstruction of the country and, at the same time, received a fixed return on their investments.
