- More than 21,000 companies have been financed under the Memorandum of Understanding signed last July
- Almost €400 million went to finance 8,000 companies in the South
Just eight months after the signing of the Memorandum of Understanding between Cassa Depositi e Prestiti and UniCredit in July 2020, aimed at supporting the country and Italian companies, the bank has disbursed the €1 billion of financing granted by CDP to support SMEs and Mid-Caps in sectors particularly hard hit by the Covid-19 emergency.
UniCredit has financed more than 21,000 SMEs and Mid-Caps operating in the tourism, consumer goods and mechanical engineering sectors, with an average individual loan of €50,000.
In detail, €500 million went to companies operating in the consumer goods and trade sectors; €180 million went to catering, entertainment and tourism businesses; the remaining funds went to manufacturing and industrial mechanical engineering companies.
Almost €400 million of the total amount was used to finance 8,000 companies in the South, with the highest concentration in Campania, Puglia and Sicily.
In accordance with the Memorandum of Understanding, loans were available for a maximum amount of €20 million and with a maturity of no less than 24 months, so as to support investment plans or medium-long term working capital needs.
"The agreement with CDP has allowed us to further strengthen the support we provide to Italian companies, in particular SMEs and Mid-Cap companies, expanding the range of available solutions to ensure liquidity, optimise working capital and resume investments" said Francesco Giordano, UniCredit co-CEO Commercial Banking Western Europe. "Thanks to the consolidated close relationship with the production system and the efficiency of lending processes, we have been able to rapidly transform the funds from CDP into solid support for the operations of companies in particularly hard-hit sectors, helping them through this delicate period as we exit from the emergency caused by the pandemic".
"Thanks to the joint work with UniCredit, just a few days after launching the first Supply Chain Basket Bond, we are proud to announce the full disbursement of the €1 billion granted to support the productivity and competitiveness of over 21 thousand companies operating in the sectors hardest hit by the pandemic. Furthermore, the result confirms CDP's role in standing beside Italy's entrepreneurial fabric, especially in the South, during the country's crucial restart phase" said Paolo Calcagnini, Deputy Director General of CDP.
Rome, Milan 6 April 2021
Media Relations UniCredit