(Finance) – Prevent the wear phenomenon And the financial exclusion of individuals in economic difficulty: this is the purpose of the important agreement signed by Intesa Sanpaolo And the Onlus Finetica Association.
There Convention leverages the Fund for the prevention of the anti-wear phenomenon administered by Finetica since 2006 and powered by the Ministry of Economy and Finance in order to facilitate the taking out of loans from the legal financial circuit to subjects (individuals, families, sole proprietorships and family-run partnerships) in condition of socio-economic fragility, that they have a program economically and socially sustainablebut considered by the subject Financial Institutions “Not bankable”since they lack real warranties to exhibit.
Intesa Sanpaoloaccording to the Impact logic and within its own ESG activities, undertakes to disburse until double the financing of the amount of the Fund.
“With this new agreement the Bank adds Impact to the commitment towards citizens who have difficulties in accessing credit, taking concrete action to prevent recourse to illegal finance. Greater financial inclusion – the subject of our business for 15 years – allows a families and micro-enterprisesespecially those most affected by the economic crisis caused by the pandemic, to invest on their own future, in health and in work “points out Marco Morganti, Head of the Intesa Sanpaolo Impact Department.
“There pandemic is growingespecially al South, the recourse to usurers, often linked to organized crime – he says In Tuorto, President of Finetica Onlus. We are facing a widespread diffusion of usury, which develops an illegal credit market to which those who cannot access other channels turn to. With the Fund for the prevention of the anti-usury phenomenon managed by Finetica and the Convention stipulated with Intesa Sanpaolo it now becomes possible to guarantee, up to 100%the disbursement of microloans at subsidized borrowing rates also to subjects who, according to the standardized assessments of financial institutions would result “Not reliable”thus avoiding the there is a real risk that they could turn to the usurer and criminal system “.