The European Investment Bank
(EIB) is to provide credit lines worth €400m each to Italian banks
UniCredit and Intesa Sanpaolo, to be passed on to small and
medium-sized enterprises in Italy.
At Intesa, the credit line
will be managed by Leasint, its leasing subsidiary, and
Mediocredito Italiano, which specialises in SME
financing.
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At UniCredit, it will be
handled by the bank’s broker arm UniCredit Leasing and UniCredit
Leasing Fineco.
Financing will be available
for new and ongoing projects, and the maximum amount granted to
single projects will be €12.5m, possibly covering up to 100% of the
investment cost.
UniCredit Leasing chief
financial officer Matteo Cavazzoli said: “This is a source of
support the EIB is giving to the European economy. Leasing is a key
way of making such investments.”
Cavazzoli added that the lessor has already received a
number of applications.
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