New instrument supporting Italian businesses' commitment to growth through research and innovation.
Confindustria, the European Investment Bank and ABI are to step up their cooperation to extend EIB financing facilities to R&D so that this sector can become an additional asset for the country. That is the message that emerged today from the seminar held in Milan under the title "Financing research, development and innovation: the key to the future".

"The EIB's resources and expertise can play a vital role in financing our businesses' projects, thereby complementing national and European instruments. The international credit crunch must spur us all into showing greater commitment to research and innovation. Italian companies know how to be competitive. There are excellent foundations here that must be built on through innovative products and processes in order to get through this difficult period", stated Diana Bracco, Vice-President of Confindustria with responsibility for research and innovation. "Confindustria will work to ensure that businesses can make the most of this opportunity".

"Today's initiative consolidates our relationship with Confindustria and ABI as key partners for the financing of enterprises in Italy", remarked Dario Scannapieco, EIB Vice-President with responsibility for operations in Italy, the Balkans and Malta, "and lays the basis for further important initiatives to be launched over the coming months".

ABI's Central Manager of the Corporate Department, Domenico Santececca, explained the importance of collaboration between banks, companies and European institutions in support of innovation and research. "The relationship with the EIB, the key player in defining the instruments and resources required to stimulate investment, is crucial. With the 'Banks for Lisbon' project currently under examination", continued Mr Santececca, "ABI aims to develop a virtuous circle of support and growth for the benefit of businesses, thereby creating a community in which experiences can be discussed and shared between national and European public administrations, research centres and the worlds of industry and finance".