medium-sized Italian companies is due to take place following a
historic deal signed between UniCredit and trade body
Confapi.
banking giant will make available €5 billion of finance to members
of Confapi, a representative body for Italy’s SMEs.
In the middle of the current global economic crisis, Italian
banks are taking an increased interest in the country’s seemingly
more reliable SME sector, which is considered by Confapi president
Paolo Galassi to be the “backbone” of Italy’s economy.
The lucrative deal for UniCredit includes provision of real
estate and equipment finance and factoring on both short and long
terms.
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Around €3 billion will be made accessible to micro-sized
companies, and the remaining €2 billion will be available to small
and medium-sized enterprises.
UniCredit Corporate Banking director general Gianni Coriani
said: “This agreement is first of all a tangible sign of how many
resources can be made available, even in a difficult economic
climate, working responsibly and with a systemic approach.”
