Another initiative by Intesa Sanpaolo in favor of Italian companies, in this moment of great difficulty and concern. In fact, the bank has activated, in collaboration with the EIB - European Investment Bank, a new one securitization synthetic of a portfolio of outstanding loans for approximately 2 billion euro within the “GARC” program (Active Credit Risk Management). The operation, activated jointly with the European Investment Fund (EIF) and organized by Intesa Sanpaolo's Active Credit Portfolio Steering team, is aimed at disbursing new loans at favorable conditions to the group's micro, small and medium-sized enterprise customers led by Carlo Messina.
The resources released through the guarantee issued by the EIF on the mezzanine tranche will be used to provide new finance to SMEs, including micro-enterprises. The initiative is primarily addressed to investments by businesses in the production chains and to support investments in digitization and sustainability, with a view to accompanying the relaunch of the country's productive economy. In this way, companies will be able to access new credit - also in combination with the measures envisaged by government decrees in the context of the pandemic emergency, with the guarantee of the Central Fund and Sace - for a total amount of 450 million euros, of which 100 million in loans have already been stipulated on particularly favorable terms.
The transaction announced today is part of Intesa Sanpaolo's dynamic credit risk management initiatives, which pursue the objective of optimize the bank's resources and to stimulate access to credit for SMEs through recourse to the capital market. “Businesses – he commented Stefano Barrese, head of the Intesa Sanpaolo Banca dei Territori Division – who intend to invest in innovation, sustainability and quality today need new credit and it is the bank's job to find the ideal tools to put new resources at their disposal. Thanks to our many years of joint activity with the EIB Group and our dedicated structures, we are now able to disburse new additional credits at more favorable conditions aimed at supporting our SMEs and micro-enterprises. In the new context, it will be essential for many to belong to a supply chain: Intesa Sanpaolo's Filiere Program already includes 700 large companies in Italy with their 16.000 suppliers and allows a growing number of companies to face together new needs induced by the pandemic crisis".
