Brussels, 28/06/2010 (Agence Europe) - On Friday 25 June, the European Investment Bank (EIB) and the Intesa Sanpaolo Group concluded three new agreements aimed at providing medium to long-term finance totalling €680m for Italian small and medium-sized enterprises (SMEs) and other public and private promoters for projects in the energy, environmental and infrastructure sectors. The initiative reflects the close cooperation that exists between the EIB and Intesa Sanpaolo and is intended ultimately to strengthen the support offered to Italy's productive sector in order to mitigate the effects of the financial crisis and help with the incipient recovery process.
Within the €680m ceiling, three areas were identified for lending that will involve a number of the Intesa Sanpaolo Group companies. In addition to the finance for small and medium-sized enterprises, for which Mediocredito Italiano and Leasint will be responsible, some of the loans will be intended for investment by small businesses in the renewable energy sector, and some for infrastructure projects relating to environmental protection, sustainable communities, energy, health and education, via Banca Infrastrutture Innovazione e Sviluppo (BIIS).
€300m will go to support Italian SMEs, with the EIB funds being used to finance up to 100% of projects promoted by companies on particularly favourable terms, implementing the new initiatives adopted by the EIB to deal with the economic crisis. The loans will be intended for industrial initiatives and new services, and will be coordinated by Mediocredito Italiano - the Intesa Sanpaolo Group company specialising in medium and long-term finance for SMEs - and Leasint, the Group's leasing company.
A further €200m will also be provided via Mediocredito Italiano and Leasint to support projects carried out by Italian SMEs involving power generation from renewable sources.
Finally, €180m has been earmarked for the programme to support infrastructure schemes promoted by local authorities or other public or private sector bodies involving environmental protection and sustainable communities, including urban regeneration projects. Finance will also be made available via BIIS - the Intesa Sanpaolo Group bank established to serve all public and private sector bodies involved in carrying out major infrastructure projects and improving public utilities - for energy, health and education projects. (O.L./transl.jl)