Intesa Sanpaolo issued a social bonds with the aim of making it available to Italian micro, small and medium-sized enterprises resources for a total of 800 million of Euro. These funds are intended for sustainable growth programs that have a positive impact on both an economic and social level. The bond was fully subscribed by Cassa Depositi e Prestiti (Cdp).
Social bonds: supporting interventions with a positive social impact
Intesa Sanpaolo will use the resources of the social bond to provide new lines of credit up to 20 million euros, with one minimum duration of two years, to micro, small and medium-sized Italian companies. This funding will be allocated to projects in line with the Green, Social and Sustainability Bond Framework of the institute, published in June 2022. Furthermore, at least 51% of the total amount of the financing will be reserved for micro and small businesses, in order to encourage the growth of smaller businesses.
Intesa and Cdp: supporting the Italian entrepreneurial fabric
The joint initiative by Intesa Sanpaolo and Cdp aims to support Italian businesses in an ever-changing market, offering them greater opportunities for access to financing to make complex investments and promote the transition towards a sustainable economy. This effort will benefit not only the companies themselves but will also have a positive impact on the area.
The operation is part of a larger one extensive collaboration between the Cassa and the banking group, launched in 2021, which has already provided resources for a total of 2,8 billion euros by the end of 2023, supporting over 1.300 Italian micro, small and medium-sized enterprises in order to stimulate the country's real economy.
