The European Investment Fund (EIF), backed by the InvestEU programme, has signed three new agreements with Endeka SGR, Banca Cassa di Risparmio di Savigliano S.p.A. and Azimut Investment SA respectively, worth a total of €88 million to support the green transition and small and medium-sized businesses (SMEs) in Italy.
The agreement with Endeka SGR concerns a €25 million EIF commitment as cornerstone investor in the Endeka Credito Italia I fund. The fund focuses on financing SMEs in Italy and promotes environmental and/or social characteristics. A press release is available online.
The agreement with Banca Cassa di Risparmio di Savigliano S.p.A. relates to an EIF guarantee of €32.9 million to support Italian SMEs and small mid-cap companies, with a focus on sustainability. Over 80% of the resources made available by the EIF will be dedicated to green and sustainable projects. They will facilitate access to finance for over 65 SMEs operating mainly in the Piedmont region. A press release is available online.
The agreement with Azimut Investment SA concerns a €30 million EIF commitment as a cornerstone investor in the Azimut Diversified Corporate Credit fund. The fund will help Italian companies, primarily SMEs and small mid-cap companies, to finance their investment and growth plans. The fund aims to promote and improve environmental and social aspects of the borrowers, such as increased energy efficiency, the transition towards a circular economy, gender equality, and the development of local communities. A press release is available online.
Paolo Gentiloni, Commissioner for Economy, said: “InvestEU plays a vital role by facilitating financing access for small and medium-sized companies, enabling them to innovate, expand, and create jobs. With this agreement, we are delighted to support businesses to unlock their full potential in this regard and contribute to Italy’s green transition.”