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EIB/UniCredit agreement to give €700 million for Italy

Staff writer |
The European Investment Bank (EIB) and UniCredit have signed four new lines of credit totalling €670 million intended for Italian businesses in the productive and services sectors.

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In addition, an amount of €30 million has been specifically earmarked for the Lazio Region.

On top of the aforementioned amounts, UniCredit undertakes to disburse an equal amount of funds in the medium term, also intended for SMEs and midcaps, bringing the total amount of finance being made available to Italy's productive sector to €1.4 billion.

The four lines of credit:

- €300 million earmarked for companies with up to 250 employees (SMEs) to finance tangible and intangible investments or fund working capital. Projects eligible for financing may not cost more than €25 million and companies will also be able to access the Central Guarantee Fund.

- €200 million will go to companies with up to 3 000 employees (midcaps) to finance tangible and intangible investments or fund working capital (UniCredit Leasing will also contribute to this credit line). In this case the projects financed may not cost more than €50 million.

- €100 million will go to SMEs in agriculture and related sectors (including agro-industry) to finance tangible and intangible investments or fund working capital. EIB-financed loans for agro-industrial and agritourism property investments, energy-saving and/or environmental projects can have maturities of between two and 15 years.

- €70 million will be set aside for the innovative mini-bonds line. This line is aimed at SMEs incorporated as joint stock companies, limited liability companies or cooperatives, whose registered office is in Italy and meet the following criteria: not listed on the stock exchange; not in financial difficulties; make tangible and intangible investments or fund working capital requirements closely and objectively linked to investments.

The companies will also be able to access the portfolio guarantee of the Guarantee Fund.

Another line of credit worth €30 million in support of SME and midcap investments in the Lazio Region is also set to be agreed soon.


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