€1 BILLION TO SUPPORT ITALIAN SMES
Tuesday 07 July 2020
UniCredit has reached an agreement with Cassa Depositi e Prestiti to support Made in Italy companies. The partnership also aims to develop tools to access capital market and co-financing operations
UniCredit is committed to supporting small and medium-sized companies in Italy and being “part of the solution” during the post-Covid recovery phase.
As part of this ongoing commitment, UniCredit has signed a Memorandum of Understanding with Cassa Depositi e Prestiti (CDP) in Italy that will allow the bank to make €1 billion of liquidity available to companies operating in strategic sectors affected by the emergency such as tourism, mechanics and consumer goods.
Within the protocol, UniCredit and CDP also reaffirm their willingness to develop alternative financial tools, such as basket bonds – mini-bond securitisations specifically issued by SMEs and mid-cap companies – for which both institutions would act as principal investors, thus attracting additional private capital.
In addition, the two institutions commit to carrying out direct co-financing operations in support of medium-sized Italian companies’ growth projects, with particular focus on research, innovation, cultural heritage, environment and energy sectors.