The European Investment Bank (EIB) has granted a EUR 200 million loan to Selmabipiemme Leasing (Mediobanca group) for projects promoted by small and medium-sized Italian businesses (SMEs) and financed through leasing.
Financing SMEs is one of the traditional areas of activity of the EU’s bank and this operation is being mounted in accordance with the framework agreement between the EIB, the Italian Banking Association (ABI) and Confindustria signed two years ago.
New and ongoing projects will be eligible for financing. The maximum amount granted to individual projects will be EUR 12.5 million, possibly covering up to 100% of the investment cost.
Selmabipiemme operates through various forms of leasing contract. The loans will mainly serve to finance: restructuring and upgrading schemes; the acquisition, construction and extension of buildings; and the acquisition of plant, equipment, machinery and vehicles. Small businesses in all productive sectors – manufacturing, agriculture, crafts, industry, trade, tourism and services – will be able to apply for the loans.
This operation will strengthen the established partnership between the EIB, Selmabipiemme and the Mediobanca group in support of small businesses. The previous loan in 2009 was quickly allocated in full by Selmabipiemme and was used to finance 5 600 leasing schemes carried out by Italian SMEs.
EIB
The European Investment Bank supports the strategic and policy objectives of the European Union by granting long-term loans for economically viable investment projects. The EIB’s shareholders are the 27 EU Member States. Italy is one of the four leading shareholders, along with the United Kingdom, Germany and France, each holding a 16.2% stake in the Bank.