Italian SMEs need credits and close consultancy in the area to make the leap in quality towards digitalisation and sustainability. The EU with the European Investment Fund (EIB Group) has traced a path which in Italy has found partners who believe in it. The Azimut Group present in 18 countries and a shareholder base of approximately 2 thousand subjects has completed the first closing 126 million for the new private debt fund for Italian companies that want to grow in sustainability. The operation is supported not only by the EIF but also by Cassa Depositi e Prestiti. The promoters certainly didn't miss the "bag". 372 billion European euros to be invested by 2027 put on the road by the Fund. It is known that small entrepreneurs are the least quick to accept technological changes and above all those with low environmental invasiveness. They manage their money carefully and get by with proven methods until the markets and consumers turn their backs on them. Now, in Italy Fei and Cdp as Anchor Investors have committed to investing up to 70 million euros to help small companies grow. Part bankers and part protectors.
The money will go to industrial investments and acquisition operations by at least 50 different Italian companies, which will be able to rely on minibonds, bonds cum warrants with durations of up to 7 years and flexible repayment methods. If they are not able to extricate themselves, there are the experts, as he says Giorgio Medda, CEO of Azimut Holding. “The launch of this Fund reinforces Azimut's commitment to supporting small and medium-sized Italian businesses through alternative finance tools that facilitate access to credit. Our team of specialists works in synergy with financial advisors in the area, providing strategic and personalized support to entrepreneurs." Put into practice, this declaration crosses the approximately one thousand billion turnover of all Italian SMEs, true economic pillars of many territorial realities. Think of the Southern Regions or the mountainous and agricultural areas of the far North.
Climate sensitivity
Let's get to the strategic point: how much real climate sensitivity is there in these financial operations? The fact that Azimut says that at least 30% of investments must be dedicated to climate action and sustainability objectives is a good commitment, as long as the results arrive. A decisive game opens, there is time available and the green competition with large industry must enthuse small entrepreneurs. In a certain sense it compensates for the difficulty of large industry in transforming itself.
In the closing there is still "the objective of investing at least 80% of the portfolio in companies that satisfy certain "responsible investment strategy" criteria and that adopt good governance practices" explains the note. Entrepreneurs will also be able to receive prizes. CDP has shared the strategy to support companies "in moments of discontinuity, such as the implementation of ambitious investment plans from an ESG perspective and growth projects along external lines" he said Andrew Nuzzi. More generally, the Cassa's intervention aims to attract further institutional investors to private capital initiatives to have a more efficient Italian ecosystem. A good ambition for a country slow.
