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COINTURK FINANCE > Business > EIB and Mediobanca Expand Credit Support for Italian SMEs
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EIB and Mediobanca Expand Credit Support for Italian SMEs

Overview

  • EIB and Mediobanca finalize a €100M credit support deal for Italian SMEs.

  • Initiative targets microenterprises, female-led businesses, and cohesion regions.

  • Funds distributed by Compass Banca, facilitating business growth and inclusion.

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The European Investment Bank (EIB) and Mediobanca have sealed a €100M deal to enhance credit support for small and medium-sized enterprises (SMEs) across Italy. This collaboration aims to bolster financial access by doubling the available credit. The agreement is strategically designed to address critical needs in underserved sectors such as microenterprises, female-led businesses, and economically weaker regions known as cohesion areas. This initiative reflects a continuing commitment by both institutions to support sectors often overlooked by traditional financial structures.

Contents
How Are the Funds Distributed?What Drives Mediobanca’s Involvement?

EIB and Mediobanca have historically supported financial initiatives tailored to Italy’s economic needs. In the past, Mediobanca has been a pioneer in personal lending, while EIB has consistently funded various development projects. Current efforts seem to widen the scope of support previously provided, focusing more significantly on gender equality and regional inclusion than before.

How Are the Funds Distributed?

Mediobanca, through its subsidiary Compass Banca, will distribute the funds as loans to Italian SMEs, targeting operational and investment needs. Of the total, 60% targets microenterprises with up to 10 employees. Additionally, 20% will focus on companies led by women or those emphasizing gender-related issues. Approximately the remaining amount will be injected into companies operating in central and southern Italy’s cohesion regions.

“Supporting access to credit for microenterprises, female-led entrepreneurs and businesses operating in less developed regions of Italy means investing in the future of the country,” stated EIB Vice-President Gelsomina Vigliotti.

What Drives Mediobanca’s Involvement?

Mediobanca operates across wealth management, corporate banking, and consumer credit sectors, with a rich history in Italy’s financial landscape. The collaboration with EIB reflects its long-standing mission of promoting the local economy, adapting to the growing dominance of SMEs. Recognizing these businesses as vital yet vulnerable components of the economy, Mediobanca sees this venture aligning with its principle of ‘responsible banking.’

“Promoting the growth of Italian companies has always been our goal,” noted Mediobanca’s Group CFO, Emanuele Flappini. He emphasized their commitment to microenterprises and female entrepreneurs.

The EIB, owned by EU Member States, strategically funds projects resonating with EU policy goals. Its extensive involvement in Italy includes over €58B in financing within recent years, aligning with climate agreements and promoting regional cohesion. This initiative aligns with its broader climate-targeted objectives, as the bank aspires to achieve a €1T investment in climate sustainability by 2030. The collaboration with Mediobanca highlights an integrated approach towards leveraging its resources and expertise for socioeconomic development.

Progression in these regions might challenge the existing disparities and bring uniformity to Italy’s economic landscape as desired by stakeholders. This collaborative effort could serve as a model for similar partnerships across other EU regions. For SMEs, this could mean greater opportunities for operational expansion and innovation, contributing to a more balanced economic growth environment.

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Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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