EIB and Intesa Sanpaolo to provide 700 mln eur to boost Italian firms’ access to finance and investments

Brussels – The European Investment Bank (EIB) and Intesa Sanpaolo have finalised two new agreements worth a total of 700 million euros to support access to credit and investment by small and medium-sized enterprises (SMEs) and mid-caps in Italy. The two operations, announced by Gelsomina Vigliotti, EIB Vice-President, and Stefano Barrese, Head of Intesa Sanpaolo’s Banca dei Territori Division, will help support some 1,000 Italian businesses, mobilising more than 1.9 billion euros in investment in the real economy. 

“These agreements confirm our steadfast commitment to supporting entrepreneurship in Italy, with a particular focus on companies’ green transitions and economic development in southern Italy,” said Vigliotti. “With reliable partners like Intesa Sanpaolo, we can mobilise substantial resources and have a concrete impact on the real economy, supporting investment and promoting sustainable growth on the ground,” she added.

“Intesa Sanpaolo acts like a bridge between the real economy and finance, with our goal being to make SMEs and mid-caps even more competitive by supporting the best growth strategies with a sustainable medium/long-term approach,” said Barrese. “Working with partners like the EIB, we promote the development of Italian small and medium-sized companies and back Italian industry.”

The first operation concerns the EIB’s purchase of a 500 million euros covered bond issued by Intesa Sanpaolo. The funds collected will help support access to finance for SMEs and mid-caps, with 25 percent of the resources financing green projects that promote climate action, such as energy efficiency, renewable energy investments, and sustainable mobility initiatives. Some of the financing may also go to projects in southern Italy, potentially benefiting from the additional advantages of the special economic zone (ZES Unica). This operation is set to help mobilise an estimated 1.4 billion euros in new investment.

The second operation consists of a 200 million euro risk-sharing guarantee issued by the EIB to Intesa Sanpaolo to support investment in Italian mid-caps, with 25 percent of the overall amount going to climate action. The EIB will share the credit risk of the new underlying operations, using this instrument to enable Intesa Sanpaolo to expand its capacity to finance companies and promote new productive investment, with an estimated leverage effect of 500 million euros in the real economy. The EIB guarantee falls under the REPowerEU programme, which promotes energy security in the European Union by investing in renewable energy, energy efficiency, and power grids.