(Finance) – Following the signing of an agreement of financing with the Ministry of Economy and Finance (MEF) for the creation of a Fund of Funds under the National Recovery and Resilience Plan (PNRR) in support of sustainable tourism and urban regeneration, the European Investment Bank (EIB) and the Ministry of Tourism launch the Thematic Fund for Tourism from 500 million euros.
The EIB will channel these funds to businesses through financial intermediaries Equiterin collaboration with the Intesa Sanpaolo Group, and Banca Finint, in collaboration with Finint Investments SGR and with Sinloc SpA, to which a third financial intermediary will be added at a later stage, selected following a public call for expressions of interest.
Equiter, with the Intesa Sanpaolo Group, will manage resources up to 200 million euros, while Banca Finint will manage an amount up to 175 million. Further resources will be allocated in a short time to a third financial intermediary. As a component of investment 4.2 – Integrated funds for the competitiveness of tourism enterprises Tourism 4.0, measure M1C3.4 of the PNRR – the Thematic Fund for Tourism has the objective of promoting and fostering a tourist offer based on environmental sustainability, innovation and digitization of services, while increasing the competitiveness of companies, in line with the objectives of the PNRR.
In the detailThe investments implemented thanks to the Thematic Fund for Tourism, they can include the construction, renovation and modernization of structures and infrastructures, with a view to promoting the sustainability and green transition of the tourism sector, through, for example, investments in digitization projects and/or processes and interventions that aim to promote sustainable mobility related to tourism. In addition, the Fund can support the working capital needs and investment costs of companies. The resources will be distributed by the financial intermediaries in the form of loans, equity and/or quasi-equity products, based on due diligence and project evaluation.
“A fund that will make it possible to finance investments aimed at environmental sustainability, innovation and digitization”, defined the tourism minister Daniela Santanchè. “A support that will stimulate growth and strengthen the competitiveness of companies in the Italian tourism industry. But also further evidence of how committed the Government is to relaunching such a vital sector for our economy”.
“Thanks to the Thematic Fund for Tourism, the EIB, as the EU’s climate bank, will support companies and services that aim, inter alia, to promote the green transition of the tourism sector with €500 million from the PNRR “, he has declared Jasmine Vigliotti, EIB Vice-President. “Promoting the development of sustainable tourism is essential to respect the environment, biodiversity, natural resources and to contribute to the fight against climate change. In 2022, more than half of the EIB Group’s lending in Italy, amounting to €5.52 billion, was dedicated to supporting environmental sustainability”.
“Strengthened by more than a decade of experience in the management of third-party funds, we are pleased to be able to contribute to this important initiative promoted by the Ministry of Tourism and the EIB” – he declared Carla Patrizia FerrariCEO of Equiter – “The new Fund represents a concrete opportunity to relaunch, after the pandemic emergency, the tourism sector, strategic for the country, through investments consistent with the environmental, digital and social transitions envisaged by the PNRR and the European Green Deal ”
Fabio Innocent, Chief Executive Officer of the Banca Finint Group said: “We are honored that our Group is participating in such a wide-ranging project and with the mission of developing Italian tourism companies and promoting their eco-sustainability and digitization in the context of the PNRR. Banca Finint and Finint Investments SGR, together with Sinloc SpA, will manage the project on the strength of their in-depth experience alongside Italian companies dedicated to the growth and development of the territories”.