(BRIEF) The European Investment Bank (EIB) and Banca Ifis have signed a vital agreement, marking the EIB’s first lending operation with an Italian bank aimed exclusively at fostering cutting-edge transitions for small and medium-sized enterprises (SMEs). ). The agreement, valued at €300 million, aims to get SMEs and medium-sized enterprises to invest in innovation as a component of Italy’s national 4. 0 transition plan. This agreement, the fifth between the two entities, underlines their commitment to facilitate access to finance for companies selling innovation, thus strengthening Italy’s competitiveness on the world stage.
(PRESS RELEASE) LUXEMBOURG, March 12, 2024 — /EuropaWire/ — The European Investment Bank (EIB) and Banca Ifis have signed an agreement to provide €300 million in new financing for cutting-edge 4. 0 investments through small and medium-sized enterprises (SMEs). ). ) and average values.
The EIB’s loan to Banca Ifis, with a nominal price of €150 million, is mainly intended for leasing loans to support cutting-edge projects under the National Transition Plan 4. 0. According to the terms of the agreement signed, Banca Ifis will guarantee the payment of an additional amount of the same amount, which represents 300 million euros for companies.
This is the fifth agreement between Banca Ifis and the EIB: the first operation of the EU bank with an Italian bank fully committed to the cutting-edge transition of small and medium-sized enterprises. through the EIB and Banca Ifis in the last 4 years up to €700 million.
“Small and medium-sized enterprises play a key role in the economy. In addition to creating jobs, these corporations tend to invest more in studies and progression and adopt emerging technologies. This transaction consolidates our strong relationship with Banca Ifis, helping us to facilitate access to finance for small and medium-sized enterprises, foster innovation and make the country more competitive,” said EIB Vice-President Gelsomina Vigliotti.
“We are very pleased to continue our partnership with the European Investment Bank by creating a new mechanism fully committed to supporting the cutting-edge transition of small and medium-sized enterprises in Italy. The fact that we are publishing the first order of its kind is a sign of our ability to meet the needs of companies that want to drive the innovation process to remain competitive in foreign markets,” said Ernesto Fürstenberg Fassio, President of Banca Ifis.
Specifically, the EIB will lend €150 million to Banca Ifis through two contracts of €75 million each, with a duration of 18 months. Banca Ifis re-lent the same amount to the Italian market for the same type of investments. The credit facility, with more favorable interest rates, will be eligible for SMEs (with a consolidated of up to 249 employees) and midcaps (with a consolidated of up to 2,999 employees) that wish to finance investments in innovation or acquire cutting-edge assets within them. of the government’s National Transition Plan 4. 0 framework, adding for lease operations with a minimum duration of 24 months.
Background information
The European Investment Bank (EIB) finances projects in four priority areas: infrastructure, innovation, climate and environment, and small and medium-sized enterprises (SMEs). In recent years, the EIB Group has financed more than €58 billion for projects. in Italy.
For more information on the terms of this agreement and the limitations or other main points covered in this press release, please refer to the fact sheet published in the Transparency segment of www. bancaifis. it.
Banca Ifis reserves all discretion in the evaluation of creditworthiness and compliance for the granting of loans.
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SOURCE: European Investment Bank
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