Unicredit has signed an agreement with the European Investment Bank to open a new line of financing for small and medium-sized Italian enterprises in the manufacturing and service sectors. The total amount of the new credit flow is 300 million euros.
In particular, new projects and ongoing ones not yet completed will be financed. The loan will be able to cover the entire investment, up to a maximum amount of 12,5 million euros for each project.
The credit can be used for various purposes:
- the purchase, the building, the extension and the restructuring of manufactured;
- the purchase of plant, equipment, vehicles or machinery;
- expenses, ancillary charges and intangible assets related to projects, including research, development and innovation expenses;
- the permanent need for working capital linked to the operational activity.
"UniCredit is a pan-European bank with solid roots in Italy - said Gianni Franco Papa, general manager of Unicredit - With this new tranche of loans, we want to support growth and transform local resources into globally recognized icons".
According to Dario Scannapieco, vice president of the EIB, "providing new finance at favorable conditions to the fabric of smaller companies is an essential step to support recovery and employment".
