The European Investment Bank (EIB) and Banco Desio have announced an agreement worth a total of €200 million, in an aim to offer a new financing opportunity for innovative investments in small and medium-sized enterprises (SMEs) and mid-caps in Italy totalling €400 million. The first €60 million tranche was signed today in Milan by EIB Vice-President Gelsomina Vigliotti and CEO and General Manager of Banco Desio Alessandro Decio.
As stated in the agreement signed today, Banco Desio will guarantee a further credit line of the same amount, making a total of €120 million in financing available for businesses as part of this first stage. The aim of the 24-month financing agreement is to allocate at least 30% of its resources to projects helping to promote innovation and digitalisation.
SMEs – businesses with 249 or fewer employees at the consolidated level – and mid-caps – businesses with 2 999 or fewer employees at the consolidated level – will be able to access the new credit line, which has favourable interest rates, to fund investments in innovation or to purchase innovative goods with a minimum term of 24 months.
“Small and medium-sized businesses are fundamental to the economy, not only because they create jobs, but also because of their commitment to innovation and to adopting emerging technologies,” said EIB Vice-President Gelsomina Vigliotti. “As part of this new agreement with Banco Desio, we aim to improve access to finance for hundreds of companies that contribute to Italy’s competitiveness with their innovative projects.”
“We are particularly pleased to work with the European Investment Bank once again to provide our customers with important finance that will support innovative projects in small and medium-sized enterprises, as well as to support investments in technology that can help the companies in the regions in which we operate grow and become more competitive,” said CEO and General Manager of Banco Desio Alessandro Decio.
