In 2020, Intesa Sanpaolo and the EIB Group have signed agreements for over 2,8 billion euros to support the Italian economy. The Sanpaolo Group and the European Investment Bank Group (EIB and EIF, European Investment Fund) have renewed their collaboration to provide new resources to support the countries in which Intesa Sanpaolo operates.
In a year marked by the pandemic, in which all the world's economies have been hit hard, thanks to various agreements several lines of intervention have been prepared, with which the EIB Group and Intesa Sanpaolo will be able to disburse new investments intended to support the Italian economy, especially small and medium enterprises.
The resources will be allocated by Intesa Sanpaolo in particular to the beyond 200 thousand companies clients for: financing of Italian SMEs and midcaps, i.e. companies that at a consolidated level have up to 3 thousand employees for new investments (in particular those in research projects and innovative investments, permanent needs for working capital, liquidity to overcome the health emergency) ; support through European Structural Funds (an agreement with the Region of Sardinia and an agreement to finance the training of university students).
Among the contracts signed in 2020, there is the synthetic securitization of an existing portfolio of loans for around 2 billion euros implemented as part of the “GARC” (Active Credit Risk Management) programme, which will allow, following the optimization of the credit risk on an existing portfolio, to place new financing of 450 million is available for SMEs and midcaps damaged by the current emergency from Covid-19.
Italian companies will be able to access a new credit on favorable terms, also in combination with the measures envisaged by the Liquidity Decrees and Rilancio and therefore benefiting from the guarantee of the Central Fund and of Sace.
Furthermore, an innovative project of social housing through urban redevelopment interventions which also include the energy efficiency of the areas involved.
