Release date: 20 October 2023
Promoter – Financial Intermediary
BANCA IFIS SPALocation
Description
The loan to the intermediary will support small-scale research and development (R&D) investments promoted by innovative small and medium sized enterprises (SMEs) and mid-caps.
Additionality and Impact
The project supports the financing of small-scale investments carried out by SMEs and Mid-Caps in Italy. The facility will be fully dedicated to SMEs and Mid-Caps making investments in R&D, innovation and digitalization under the "Transizione 4.0 National Plan" launched by the Italian government to foster the competitiveness of Italian companies. The uncertainties in the global economy due to the pandemic, the war in Ukraine, inflation, the energy crisis, and rising interest rates have exacerbated the difficulties that SMEs and Mid-Caps and especially innovative companies experienced in accessing cost-effective, long-term finance. By generating additional lending capacity, the proposed operation supports investments in productive assets, R&D and innovation undertaken by SMEs and Mid-Caps. Hence, the project improves SMEs' and Mid-caps' access to innovation finance. These features together contribute to maintaining existing jobs, creating new jobs, and sustaining growth. The Financial Intermediary is specialized in SME finance, has a wide network and thereby ensures higher market reach for EIB financing. The project will generate a positive effect on SMEs and Mid-Caps by offering longer-term financing and lower financing costs.
Objectives
The aim is to enhance access to finance for the final beneficiaries. The facility is fully dedicated to Innovation.
Sector(s)
- Credit lines - Credit lines
Proposed EIB finance (Approximate amount)
EUR 150 million
Total cost (Approximate amount)
not applicable
Environmental aspects
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Procurement
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Status
Signed - 12/02/2024
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).