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    Reference: 20220281
    Release date: 21 July 2023

    Promoter – Financial Intermediary




    The operation consists of a loan to Medio Credito Centrale Banca del Mezzogiorno Group (MCC - BdM) to support investments and working capital needs of Italian small and medium sized enterprises (SMEs) and mid-caps towards their sustainable transition. In particular, 70% of the total funding will be made available to those located in the Southern Regions, while 30% will be dedicated to climate action and environmental sustainability projects.

    Additionality and Impact

    The operation will support Italian SME and MidCaps in their post-Covid recovery efforts and in their sustainable transition. The facility addresses an important market failure that is SMEs' access to finance, which is driven by asymmetric information, and which, despite improvement in recent years, still lags behind. This has become even more important in the context of the economic downturn caused by the War in Ukraine.

    Most of the final beneficiaries are located in the southern regions of Italy, which historically lacked behind the national average in terms of economic performances.

    The proposed loan is fully consistent with the EU objectives and responds to the definition of SME financing as a strategic priority objective of the Bank. The operation will also support the EU's and the Bank's priority objectives in the energy sector and the EIB's climate action objectives: the development of renewable energy projects, the implementation of energy efficiency projects and potentially other sustainable agriculture and circular economy investments promoted by SMEs and midcaps in several industries.

    The Climate action element of the operation reduces negative carbon and air pollution externalities market failures and increases comfort and air quality in the dwellings, social and public benefits that are not fully internalised by private investors. Overall, the projects are expected to yield good quality and results, thanks to avoided carbon emissions and employment creation. Moreover, the projects will be supported by adequate governance and capabilities of the FI.


    The aim is to finance eligible sub-projects carried out by the target beneficiaries for their energy efficiency improvement and CO2 emissions reduction. Moreover, the project also contributes to social and economic policy targets, considering that the final beneficiaries will be located in the EU Cohesion regions.


    Proposed EIB finance (Approximate amount)

    EUR 100 million

    Total cost (Approximate amount)

    not applicable

    Environmental aspects

    Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.


    Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.


    Signed - 28/12/2022

    Under appraisal
    8 December 2022
    28 December 2022


    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Italy Credit lines