UniCredit and the European Investment Bank (EIB) have renewed their commitment to supporting the real economy with new resources for the financing of Italian small and medium-sized enterprises operating in particular in the agricultural, bio-economy and renewable energy sectors.
The deals signed will allow to extend to eligible enterprises funds worth 250 million euros.
Two credit lines have been agreed with the EIB:
- 100 million euros will be allocated to small and medium-sized enterprises with less than 250 employees and Mid-Cap companies with at least 250 and no more than 3,000 employees operating in the agricultural and bioeconomy sectors. UniCredit, which is responsible for selecting the projects and managing the loans to the companies, can cover up to 12.5 million euros with EIB funds for investment projects with a value of less than 25 million euros and up to 50% for investment projects with a value of between 25 and 50 million euros. At least 10% of the loan will be earmarked for young farmers under 41 years of age. The bank will double the EIB's credit line with its own funds, making 200 million euros available for the selected companies.
- 50 million euros will be allocated to finance small and medium-sized projects in Italy, mainly regarding renewable energy, energy efficiency and biofuels. In this case, combined with the EIB's funds, the loan can cover as much as 75% of investment projects with a value of less than 50 million euros.
New projects lasting a maximum of 12 years for the agricultural and bioeconomy sectors, and a maximum of 18 years for the renewable energy sector, are eligible for the loans.
The deals signed confirm UniCredit and the EIB's enduring commitment to supporting Italy's economy and follows those already signed in the first half of 2019.
Over the past 5 years, UniCredit has provided businesses in Italy with around 5 billion euros of EIB funds, for a total of more than 4,000 projects funded.
Milan, 23 October 2019
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