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Intesa Sanpaolo and EIB: EUR 600m for Italian businesses

Staff Writer | June 2, 2017
Intesa Sanpaolo and the European Investment Bank (EIB) have renewed their commitment to guarantee resources to support the real economy, providing financing to Italian businesses.
Intesa Sanpaolo
Europe   A credit line
The agreement includes a credit line totalling EUR 300m made available by the EIB and a commitment by Intesa Sanpaolo to match that amount with own funds provided to beneficiary companies, thereby raising the maximum overall amount available to support the Italian economy to EUR 600m.

When this is added to further financing signed in late 2016, the total amount of new disbursements with favourable EIB funding stands at EUR 1.8bn.

The funds will be earmarked exclusively for investments by midcaps – i.e. companies with a consolidated workforce of between 250 and 3 000 employees – via Mediocredito Italiano, the Intesa Sanpaolo Group's bank specialised in supporting the development of businesses.

Both new and existing projects that have not yet been completed, costing up to EUR 50m with a maximum term of 12 years, are eligible for the loans.

They are intended for businesses operating in all productive sectors – agriculture, crafts, industry, retail, tourism and services. Pure financial investment and/or real estate projects are not covered by the agreement.