(Finance) – UniCredit has allocated a ceiling of 1 billion of euros for support businesses in the agricultural sector in this difficult moment and allow to bear the highest costs of energy and fuels.
In fact, the bank makes it available to companies in the Italian agricultural chain new short-term lines of creditthe so-called
“management” financinglasting 12 months with bullet refund or 18 months with amortizing reimbursement, also with the direct guarantee of Guarantee Fund for SMEs.
“The Italian agricultural sector plays a leading role in the national economy, with an added value that, including forestry and fishing, exceeds 34 billion euros and represents 2.1% of the added value of the whole country”, he declares. Massimiliano MastaliaCorporate Head of UniCredit Italia, adding “this is why UniCredit has decided to implement an extraordinary intervention
to support agricultural enterprises in this complex phase and allow them to adequately face the growing current expenses and plan the next production cycles “.
The Italian agricultural sector, already impacted by the increase in the costs of energy procurement, is now facing further increases in costs caused by the conflict in Ukraine which, according to the CREA – Council for Research in Agriculture and the Analysis of the Economy Agraria), could lead to further increases in current costs for Italian farms, on average, of over € 15,700, with peaks of almost € 100,000 for companies that breed granivores.
(Photo: Joao Marcelo on Unsplash)