The European Investment Bank is to provide credit lines worth
€400million 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 UniCredit Leasing and
UniCredit Leasing Fineco, which is the bank’s broker arm.
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 percent of the investment cost.
The credit lines will be aimed at financing projects such as the
acquisition of plant, equipment, machinery and vehicles, as well as
construction, extension and renovation of buildings. They will be
available to SMEs in all sectors.
They will also cover research,
development and innovation costs, and ongoing working capital
requirements.
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By GlobalDataclaire.hack@vrlfinancialnews.com
