(Finance) – Foster theaccess to credit for smaller companies to help them carry out their projects, supporting their growth and competitiveness. These are the objectives of the one billion euro loan Cassa Depositi e Prestiti granted to Intesa Sanpaolo and which is part of the broader collaboration between the two institutions, aimed at promoting joint initiatives for Italian companies.
In detail, the resources will be fully employed by Intesa Sanpaolo For disburse new loans of up to 25 million euro, with a duration of up to 18 years, to Italian SMEs and Mid-Caps. The resources will be dedicated to investments to be made and/or in progress (also leveraging on the production chains) on the national territory, to expenses for tangible and/or intangible fixed assets and to working capital needs.
The joint initiative of Intesa Sanpaolo and Cassa Depositi e Prestiti responds to the desire to support Italian SMEs and Mid-Caps in a constantly evolving market phase, allowing them to access long-term loans at advantageous rates. Companies will also be able to benefit from additional rewards in the case of investments for ESG purposes and, for certain types of financing, will also be able to combine them with other concessions accessible thanks to public guarantees.
Andrea Nuzzi, Head of Enterprises and Financial Institutions of CDPdeclared: “This transaction represents further confirmation of Cassa Depositi e Prestiti’s commitment to supporting the country’s entrepreneurial fabric and creating value in the area, in a logic of additionality and complementarity with respect to the market. The synergy with Intesa Sanpaolo will in fact favor access to credit for smaller companies that play a crucial role in the Italian economy and will allow them to seize growth opportunities”.
Anna Roscio, Intesa Sanpaolo Business Executive Sales & Marketing Directorcommented: “This further initiative with Cassa Depositi e Prestiti strengthens the long-standing collaboration which for years has seen us united in financial proposals in favor of the competitiveness of our production system. We share a coordinated approach to interventions and a willingness to understand needs and find solutions and resources to be made available to Italian SMEs and Mid-Caps. With CDP we intend, on this particular occasion, to facilitate the entire economic system in an evolving phase that should be seen as a moment of positive turning point for many of our companies”.