Cassa Depositi e Prestiti (CDP) and the European Investment Bank (EIB) signed an agreement from 400 million to be allocated to research, development, innovation and green transition for small and medium-sized enterprises (SMEs) and mid-cap companies (Mid Cap) Italian.
The investments will be made both in Italy and in other European Union states. The agreement was signed by Fabio Massoli, Director of Administration, Finance and Control of CDP, e Gilles Badot, Director for the EIB's operations in Italy.
500 million in two tranches, financing for up to 12 years
The new financing is part of a larger one joint operation between EIB and CDP for a total amount of 500 million, divided in two tranches: the first of 400 million announced today and a second of 100 million which will be allocated once the first limit has been exhausted.
The financing will serve to stimulate investments and mobilize new resources in favor of companies. The funds granted by the EIB, which thanks to its triple A rating benefits from better funding conditions on international markets in terms of interest rates, allow Cdp to offer businesses financing on favorable terms and have a maximum duration up to 12 years. The credit line of the EIB will have a period of 24 month availability.
Cdp's support for Italian companies
Cassa Depositi e Prestiti will be able to support Italian companies through:
- Medium and long term financing
- Subscription of bonds issued by the companies themselves on the capital markets
- Underwriting asset-backed securities, which include mini-bonds issued by recipient companies (known as basket bonds)
The collaboration between EIB and CDP
EIB and CDP, in the last three years, have cincluding 14 operations for over 4 billion euros, with notable impacts in Italy.
The agreements have facilitated access to credit on advantageous conditions for hundreds of thousands of small and medium-sized businesses, including innovative instruments such as Basket Bonds. Furthermore, they supported green investments by public and local authorities, large-scale infrastructure projects and reconstruction following natural disasters, both at a public and private level.
