EIB and UniCredit agree €500m financing for Italian SMEs
UniCredit, UniCredit Leasing and the European Investment Bank are renewing their commitment to finance Italian small and medium-sized enterprises (SMEs), with particular emphasis on female entrepreneurship, innovation and climate action projects.
The agreements signed include a €250 million credit line made available by the EIB and a commitment by UniCredit to match that sum in support of beneficiary SMEs, thereby raising the maximum overall amount to €500 million.
An initial €200 million credit line will be provided by the EIB for projects by SMEs located throughout Italy, with up to 25% of the total amount intended for businesses managed or controlled by women.
Up to 40% of the total will concern projects by innovative SMEs or SMEs supporting innovation.
UniCredit, which is in charge of selecting the projects and managing the finance provided to the companies, can finance up to 100% of investment, for an amount of €12.5 million.
The maximum individual cost of such projects is €25 million. The bank will double the EIB's credit line with its own funds, thus increasing the finance made available to the real economy to €400 million.
The second credit line, made up of €50 million provided by the EIB, will be matched with another €50 million by UniCredit and is aimed at projects implemented by SMEs and local authorities that have an environmental purpose and aim to combat climate change.
Projects in the renewable energy and energy efficiency sectors are eligible for financing with a maximum term of 20 years on the basis of the economic life of the investments to be financed.
