The ELITE project, i.e. the growth platform for SMEs created by Borsa Italiana and the Ministry of Economy and Finance (see Elite, growth project for SMEs), was strengthened thanks to two separate agreements signed with Fondo Italiano di Investimento SGR, and with ABI and Confindustira.
The first agreement, between Fondo Italiano d'Investimento SGR and Borsa Italiana, provides for the commitment by FII to provide the risk capital necessary to finance the growth projects of the SMEs involved in the ELITE project. Furthermore, according to the agreement, FII will participate in the training phase of the program by offering its experience and professionalism in the areas of managerial transparency, governance structures and financial management. Finally, the Fund undertakes to have the companies in which it holds a stake participate in the ELITE project, bearing part of the expenses.
The second agreement aims to facilitate access to credit for SMEs through the identification of qualitative elements that influence the assessment of the creditworthiness of the companies participating in the ELITE project. The agreement also aims to enhance the project and to generate, in the words of the CEO of Borsa Italiana Raffaele Jerusalmi, "a synergistic and systemic effort to promote the growth of SMEs". Even the General Manager of ABI, Giovanni Sabatini, insisted on the need to "pool" the commitment of banks and businesses to give concrete answers to the country's problems. According to Sabatini, "the Elite project, by strengthening the managerial culture of companies, the adoption of more transparent training and information systems, can help strengthen companies and act positively also in relations with banks". Finally, the President of Piccola Industria, Vincenzo Boccia, welcomed the signing of the memorandum of understanding, defining it as "an important element that completes the framework of the initiatives launched with Borsa Italiana and the ABI which aim to encourage the growth of businesses."
