Signature(s)
Summary sheet
- Credit lines - Credit lines
The operation consists of a loan to Intesa Sanpaolo to provide finance for small and medium enterprises (SMEs) and mid-caps in the agricultural and bioeconomy sector. At least 15% of the loan amount will be dedicated to Climate Action Environment Sustainability.
The aim is to enhance access to finance for the target beneficiaries.
The loan is expected to support EU policy objectives, such as modernisation in the agriculture sector, climate action and biodiversity, and rural development. It also supports the New Common Agricultural Policy 2023-2027 that combines higher environmental and climate ambitions with a fairer distribution of payments. The project will ease constraints on access to finance faced by Italian SMEs in the agricultural and bioeconomy sectors. The beneficiaries face deep market failures related to lack of track-record, insufficient farm net asset value to collateralize and high screening costs for small investments. With this in mind, the project will enable SMEs to benefit from financing with tenors that match the economic life of the investment undertaken, as well as from transfer of financial advantage and complementarity that prompts the intermediary to match the EIB contribution. Furthermore, it will mobilize private sector investment, contributing to the sustainability of both sectors. Overall, the project can generate positive externalities in terms of competitiveness in a key sector for Italy and the EU and in terms of climate change mitigation and environment. It can also help strengthen EU socio-economic cohesion. This operation supports the agriculture/bioeconomy sector in general.
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.