Just in the days when Armani and Cucinelli are forced by the pandemic to cancel the January fashion shows, Intesa Sanpaolo and Sistema Moda Italia, one of the largest global organizations representing textile and fashion industries, a sector that in Italy has over 400.000 employees and around 50.000 companies, announce the agreement to support member companies and the entire supply chain hard hit by the pandemic, in order to revitalize all segments of the value chain.
Financial liquidity, acceleration of investments for Transition 4.0, sustainable growth and the circular economy are at the heart of the partnership. The main purpose is to make the financial and advisory tools of Motore Italia, the Intesa Sanpaolo strategic program launched in 2021, to allow small and medium-sized enterprises to relaunch themselves through development projects and new credit and achieve the goals of National Recovery and Resilience Plan.
The collaboration falls within the broader framework relating to the joint process between Intesa Sanpaolo and Confindustria, announced in the autumn, which makes 150 billion euros available to businesses over three years to promote the development of the production system in line with the PNRR and with the country's growth prospects.
As part of the new agreement with SMI, Intesa Sanpaolo will provide member companies with new solutions for restore its liquidity financial and value i investment projects. First of all, the possibility of refinancing existing medium and long-term lines of credit by extending the duration of the amortization plan up to 15 years, leveraging on the current regulatory framework which allows 80% of the guarantees of the loan to be used Fondo Centrale granted pursuant to the "de minimis" regulation and the management of working capital, through credit lines additional to the pre-existing ones, with a duration of 18 months minus 1 day, 6 of which for pre-amortisation.
To encourage the technological renewal of member companies and reap the benefits offered by the Transition 4.0 plan of the 2021 Budget Law, Intesa Sanpaolo will propose financial solutions and dedicated consultancy support to SMI members for new projects or for the expansion of production structures with the possibility of using the guarantee of the Guarantee Fund or SACE and will favor collaboration with specialized bodies, such as the National Research Council, to stimulate cooperation between companies and research centres, identifying priority technological development areas.
In order to disseminate entrepreneurial actions and projects connected to the objectives of improving environmental, social and corporate management (ESG) practices, Intesa Sanpaolo will promote its own line of innovative and rewarding loans for virtuous SMEs called S-Loans, intended for investments in projects oriented towards ESG values and sustainable development with repercussions on the entire supply chain. The companies in the sector will share the measurement indicators with the bank to achieve objectives in the field of gender equality, aimed at guaranteeing gender equality and introducing welfare programs for employees, climate change, to direct investment choices towards the reduction of impact of SMEs on the environment and on climate change and digitisation, for those embarking on the necessary digital transition. On this aspect, the leading Italian banking group has recently launched Motore
Italia Digitale launching D Loan, i.e. the loan to favor and accelerate the digitization process of SMEs.
Among the possibilities provided for by the agreement is also access to the 6 billion euro Circular Economy ceiling, which Intesa Sanpaolo has set up for transformative projects of SMEs inspired by the principles of the circular economy. In full synergy with these values, SMI is strongly committed to promoting the creation of a national network of Recycling Hubs for the management and recycling of processing waste and waste from the separate collection of textile materials and accessories, in line with the principles of circular development in the supply chain and with the objectives set by the Green Deal.
Intesa Sanpaolo will accompany the companies promoting the network from the early stages of the project to its implementation, identifying the best financial solutions in this area.
Sergio Tamborini, president of Sistema Moda Italia: "In a difficult situation in the sector like the current one, which is still recovering what it lost in terms of turnover during 2020, the agreement with Intesa Sanpaolo, signed within the broader framework of collaboration with Confindustria, is certainly intended to provide companies in the sector with the liquidity and financial instruments necessary to successfully face the investments required above all for sustainable growth and for Transition 4.0. The agreement also confirms the long collaboration already underway between Intesa Sanpaolo and Sistema Moda Italia since the establishment of the latter”.
Stephen Barrese, head of Banca dei Territori Intesa Sanpaolo: “The textile and fashion sector contributes to increasing Italy's excellence all over the world. It is important for Intesa Sanpaolo to support all companies in this supply chain particularly affected by the pandemic crisis, recognizing their main financial needs, including the extension of debt maturities and the need for liquidity. Today's agreement will therefore make it possible to strengthen Intesa Sanpaolo's bond with SMI and will allow us to reach the highest number of companies in the supply chain to relaunch their activities and investments and to look to the future together with confidence. Through our Supply Chain Development Program, in recent years we have involved around 100 fashion chains with 2.000 suppliers and a total turnover of over 10 billion euros, confirming ourselves as a solid point of reference for the entire supply chain. Also thanks to our incentive for new investments aimed at sustainable development, we will be able to contribute to accelerating the recovery according to the guidelines of the PNRR which Intesa Sanpaolo is committed to realizing, starting today, also in synergy with Sistema Moda Italia".
From now to 2026 Intesa Sanpaolo plans medium-long term disbursements for over 410 billion euros, of which 120 intended for SMEs, with which to actively contribute to the country's economic recovery in close correlation with the objectives of the PNRR approved by the European Commission.
