First financing of Unicredit with the Garanzia Italia channel, the new instrument launched by the government to support the liquidity of Italian companies affected by the Covid-19 emergency. UniCredit, following the collaboration agreement with Sace, approved a loan from 10 million euros in favor of Pastificio Di Martino, the first operation within the framework of the Italian guarantee program of SACE. The procedure for issuing the guarantee has been completed digitally.
The transaction confirms "UniCredit's complete effectiveness on all the possible solutions envisaged by the Liquidity Decree".
“This financing operation – he said Francis Jordan, CO-CEO Commercial Banking Western Europe of UniCredit – testifies to UniCredit's commitment to supporting local businesses. Today we feel even more the responsibility to continue to guarantee all our support to the country's economy and to strengthen our commitment to Italian excellence. Pastificio Di Martino is a dynamic and innovative company based in the South and represents an example of a local company that has been able to conquer a leadership position in its market segment, food & beverage, which is strategic for the relaunch and growth of the country ”.
"I thank UniCredit and Sace for this loan and for the speed of the operation which will allow us to continue implementing our development and growth plans - he said Joseph DiMartino, owner of Pastificio Di Martino – It is also a good sign for the country that the first bank loan with a Sace guarantee under the Liquidity Decree goes to a company in the South. Thanks to this operation, we will be able to better absorb the shock suffered by the production chain following the spread of Covid-19 and to deal with working capital needs more calmly, thus guaranteeing operational continuity and the supply of our products".
As expected by liquidity decreeUntil 31 December 2020, Sace will grant guarantees in favor of banks, financial institutions and other entities authorized to provide credit in Italy, for loans to companies.
