With two separate agreements, signed today in Rome, for a total of 600 million euros, the European Investment Bank (EIB) and the Banco Popolare group have strengthened their collaboration aimed at supporting the Italian economy. There are 400 million in favor of projects advanced by SMEs (up to 250 employees) and 200 million for mid-cap companies (between 250 and 3.000 employees). Thanks to these new agreements, in the last three years the EIB's finance conveyed in Italy through Banco Popolare amounted to 1,8 billion euro.
PMI (400 million)
400 million euros are earmarked for Italian SMEs, with the use of EIB funds at particularly favorable conditions. The loans are intended to finance both new and ongoing investments, provided they have not yet been completed. The interventions, relating to companies active in all productive sectors (agriculture, craftsmanship, industry, commerce, tourism and services) may concern the purchase, construction, expansion and renovation of buildings; the purchase of plant, equipment, vehicles or machinery; expenses, ancillary charges and intangible assets related to projects, including research, development and innovation costs; the permanent need for working capital linked to the operational activity. Banco Popolare will also provide its own resources to the beneficiary SMEs, thus increasing the overall ceiling available to support the Italian economic system.
Mid-Cap (200 million)
The ceiling of the total amount of 200 million euros is intended for client companies with between 250 and 3.000 employees and belonging to all production sectors, to finance needs similar to those described for SMEs. The maximum amount of each loan is 25 million euros. The collaboration between the bank of the European Union and the Banco Popolare group continues with excellent results also in the sector of loans to large corporates and in the sector of research, development and innovation, with the use of the new instruments launched by the EU Commission and the EIB ( InnovFin). «Cooperation with the European Investment Bank is for us a constant point of reference in the field of business credit - underlines Maurizio Faroni, general manager of Banco Popolare - a fruitful collaboration which, over the years, has allowed us to extend our ability to constantly support small and medium-sized enterprises in their consolidation, development and growth projects». "The ceilings made available thanks to the agreements signed are one of the most effective tools to offer, in a European context, a response to the needs for qualified financing for the country's productive world in this phase of expected recovery of the economy". "The program launched today confirms the commitment that Banco Popolare maintains towards the economy of the territories of reference, ensuring that companies have access to a plurality of sources of financing". «The partnership with national banks is fundamental in the process that allows the EIB's financial resources to permeate right into the fabric of SMEs: in this regard, relations with the Banco Popolare group have been consolidated and the business is constantly growing, thanks also to the fact that Banco's agency network has proved to be very efficient in allocating resources on the territory», commented Romualdo Massa Bernucci, EIB director for Italy, Malta and the Balkans.
