Subsidized credits for 300 million euro in favor of small and medium-sized enterprises in Southern Italy. These are the resources made available by Unicredit within the "Sme Initiative – Southern Bonds”, an initiative organized by the Ministry of Economic Development in collaboration with the European Investment Bank, the European Investment Fund (EIF) and the European Commission.
Each company will be able to get the most out of it one and a half million euros, money that can be used to expand or strengthen the company's activities, create new projects or access new markets. Expenses relating to the acquisition of tangible and intangible assets and the financing of working capital (e.g. inventories, personnel costs, supplier payments) are eligible for funding.
The new loans will be disbursed under favorable conditions. In fact, they will be guaranteed by the Guarantee Fund (based on the PON IC Reserve). The goal is to facilitate access to credit, with shorter disbursement times, and to encourage investments by micro, small and medium-sized enterprises in Basilicata, Calabria, Campania, Puglia, Sicily, Abruzzo, Molise and Sardinia.
"Unicredit is the first bank in Italy to be awarded SME Initiative resources - said Andrea Casini, Co-Head for Italy of the Bank - which is starting the placement of this portfolio which will allow companies in the South, between now and 2020, to obtain credit with more speed and under more favorable conditions”.
