Intesa Sanpaolo has signed the agreement with Invitalia (National Agency for the attraction of investments and business development) and ABI (Italian Banking Association) called "Resto al Sud", thus becoming one of the first banks participating in the initiative in support of young people and the economic fabric of the South.
"Rest in the South" in fact, it supports the birth of new ones entrepreneurial activities started by young people between 18 and 35 years old residing in Basilicata, Calabria, Campania, Molise, Abruzzo, Puglia, Sardinia or Sicily, making use of a financial envelope of 1 billion and 250 million euros made available by the "Fund for Development and Cohesion".
“We want to be alongside young people who wish to pursue their dreams in their homeland – he declares Andrew Lecce, Head of Marketing Department of Intesa Sanpaolo. By joining this initiative, Intesa Sanpaolo wants to concretely support the creation of new production realities in the regions of the South, promoting social development and economic growth in the South."
Entrepreneurial initiatives operating in the production of goods in the industry, handicraft, transformation of agricultural products, fishing and aquaculture, supply of services to businesses and individuals, tourism may be financed. On the other hand, agricultural activities, freelancers and commerce are excluded.
The concessions contained in the Convention provide for a grant equal to 35% of eligible expenses disbursed by Invitalia or a bank loan equal to 65% of eligible expenses, granted by the Intesa Sanpaolo Group.
each subject can request up to 50.000 euros. In the event that the project is proposed by 4 or more young people, it will still be possible to request a maximum of 200.000 euros.
The residency requirement can still be satisfied by moving to one of the 8 southern regions within 60 days of communication of the outcome of the application, a term which extends to 120 days for those residing abroad. The application can be submitted by companies, including cooperatives, sole proprietorships established after 21 June 2017. Applications can be submitted exclusively online on the website www.invitalia.it. It is necessary to register on the dedicated platform, have a digital signature and a certified mail address.
