One billion euros to businesses mid-cap e pmi Italian companies, with particular attention to investments in projects related to circular economy. This is the new funding program envisaged by Intesa Sanpaolo e European Investment Bank, who have renewed their partnership.
The agreement provides two new lines of credit for a total value of 500 million euros. To these resources Intesa Sanpaolo will add own funds of the same amount, bringing the overall limit to one billion euro.
In detail, the first loan it amounts to 250 million and is made available by the EIB to finance Midcap companies, those which, at a consolidated level, have between 250 and 3 thousand employees. The resources will be made available through the intermediation of Mediocredito Italiano, the bank of the Intesa Sanpaolo Group specialized in supporting business development. The loans will be able to finance both new and ongoing and not yet completed projects, for an amount not exceeding 50 million euros, with a maximum duration of 12 years. The interventions are intended for companies active in all productive sectors (agriculture, craftsmanship, industry, commerce, tourism and services), but pure financial and/or real estate investment projects are excluded. Mediocredito Italiano undertakes to provide loans equal to those of the EIB, bringing the total resources available to Midcap companies to 500 million euro and undertaking to transfer the advantageous conditions of EIB funding to the companies receiving the loans.
The second line of credit is new for the Italian market: a Framework Loan for interventions in the circular economy dedicated to innovative SMEs and Midcaps active in the manufacturing, agriculture, energy and waste management sectors. Also in this case, Mediocredito Italiano will double the ceiling of 250 million of the EIB with another 250
million euro from the 5 billion euro Circular Economy Plafond envisaged in the Group's 2018-2021 Business Plan. New or ongoing circular economy projects will be financed, selected in collaboration with the Intesa Sanpaolo Innovation Center Circular Economy Team. The loans, with a maximum duration of 12 years, can be used to finance projects of up to 50 million euros, covering up to 50% of the total costs.
