European Investment Bank (EIB) and Intesa Sanpaolo Group have signed three new agreements to provide medium to long-term finance totaling EUR680m for Italian small and medium-sized enterprises (SMEs) and other public and private promoters for projects in the energy, environmental and infrastructure sectors.
EIB said that, within the EUR680m ceiling, three areas were identified for lending that will involve in particular a number of the Intesa Sanpaolo Group companies.
In addition to financing the SMEs, for which Mediocredito Italiano and Leasint will be responsible, some of the loans will be intended for investment by small businesses in the renewable energy sector, and some for infrastructure projects relating to environmental protection, sustainable communities, energy, health and education, via Banca Infrastrutture Innovazione e Sviluppo (BIIS).
EUR300m will go to support Italian SMEs, with the EIB funds being used to finace up to 100% of projects promoted by companies on particularly favourable terms, implementing the new initiatives adopted by the EIB to deal with the economic crisis.
The loans will be intended for industrial initiatives and new services and be coordinated by Mediocredito Italiano, the Intesa Sanpaolo Group company specialising in medium and long-term finance for SMEs and Leasint, the group’s leasing company.
A further EUR200m will also be provided via Mediocredito Italiano and Leasint to support projects carried out by Italian SMEs involving power generation from renewable sources.
The remaining EUR180m has been allocated to support infrastructure schemes promoted by local authorities or other public or private sector bodies involving environmental protection and sustainable communities, including urban regeneration projects and the finance will also be made available via BIIS for energy, health and education projects.