CR ASTI AGRI LOAN FOR SMES AND MIDCAPS

Promoteur – Intermédiaire Financier

CASSA DI RISPARMIO DI ASTI SPA

Lieu

• Italie

Description

The project consists in a loan facility for the financing of projects promoted by small and medium sized enterprises (SMEs) (at least 70%) and mid-caps (up to 30%) in Italy. At least 60% of the loan will be allocated to final beneficiaries active in the agriculture and bioeconomy sectors. At least 10% will be dedicated agriculture projects carried out by young farmers.

Additionality and Impact

The loan is expected to support EU policy objectives, such as modernisation in the agriculture sector and rural development. It also supports the New CAP 2023-2027 that combines higher environmental, climate and animal welfare ambitions with a fairer distribution of payments, especially to young farmers (YF).

The project will ease constraints on access to finance faced by Italian SMEs mainly acting in the agricultural and bioeconomy sectors. The beneficiaries face deep market failures related to lack of track-record, insufficient farm net asset value to collateralize and high screening costs for small investments. With this in mind, the project will enable SMEs and young farmers to benefit from financing with tenors that match the economic life of the investment undertaken, as well as from transfer of financial advantage and complementarity that prompts the intermediary to match the EIB contribution. Furthermore, it will mobilize private sector investment, contributing to the sustainability of both sectors. Overall, the project can generate positive externalities in terms of competitiveness in a key sector for Italy and the EU. This operation supports the agriculture/bioeconomy sector in general.

Objectifs

The aim is to enhance access to finance to the target beneficiaries.

Secteur(s)

• Lignes de crédit - Lignes de crédit

Montant BEI envisagé (montant approximatif)

EUR 100 million

Coût total (montant approximatif)

not applicable

Aspects environnementaux

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Passation des marchés

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Statut

Signé - 14/12/2023