- Two operations totalling €700 million have been finalised.
- The agreements are expected to help mobilise investments of around €1.9 billion in the real economy, €450 million of which will go to green projects.
- The first transaction concerns a €500 million covered bond from Intesa Sanpaolo and purchased by the EIB to fund loans supporting investments by small businesses and mid-caps.
- The second agreement covers a €200 million risk-sharing guarantee granted by the EIB to Intesa Sanpaolo to support mid-cap investments.
The European Investment Bank (EIB) and Intesa Sanpaolo have finalised two new agreements totalling €700 million to back access to finance and investment by small and medium-sized enterprises (SMEs) and mid-caps in Italy. The two operations – announced by EIB Vice-President Gelsomina Vigliotti and Intesa Sanpaolo’s Head of Domestic Commercial Banking Stefano Barrese – will help support around 1 000 Italian businesses, mobilising over €1.9 billion in investment in the real economy.
“These agreements confirm our steadfast commitment to supporting entrepreneurship in Italy, with a particular focus on companies’ green transitions and economic development in southern Italy,” said EIB Vice-President Gelsomina Vigliotti. “With reliable partners like Intesa Sanpaolo, we can mobilise substantial resources and have a concrete impact on the real economy, supporting investment and promoting sustainable growth on the ground.”
“Intesa Sanpaolo acts like a bridge between the real economy and finance, with our goal being to make SMEs and mid-caps even more competitive by supporting the best growth strategies with a sustainable medium/long-term approach,” said Intesa Sanpaolo’s Head of Domestic Commercial Banking Stefano Barrese. “Working with partners like the EIB, we promote the development of Italian small and medium-sized companies and back Italian industry.”
The first operation concerns the EIB’s purchase of a €500 million covered bond issued by Intesa Sanpaolo. The funds collected will help support access to finance by SMEs and mid-caps. 25% of the resources will finance green projects promoting climate action, such as energy efficiency work, investment in renewable energy and sustainable mobility initiatives. Some of the financing may also go to projects in southern Italy, potentially benefiting from the additional advantages of the special economic zone (ZES Unica). This operation is set to help mobilise an estimated €1.4 billion in new investment.
The second operation consists of a €200 million risk-sharing guarantee issued by the EIB to Intesa Sanpaolo to support investment in Italian mid-caps, with 25% of the overall amount going to climate action. The EIB will share the credit risk of the new underlying operations, using this instrument to enable Intesa Sanpaolo to expand its capacity to finance companies and promote new productive investment, with an estimated leverage effect of €500 million in the real economy. The EIB guarantee falls under the REPowerEU programme to promote energy security in the European Union by investing in renewable energy, energy efficiency and power grids.
Background information
The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight key priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world. The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security. The EIB Group signed 99 operations totalling €10.98 billion in Italy in 2024, unlocking almost €37 billion of investment in the real economy. All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment. Fostering market integration and mobilising investment, the funds made available by the Group unlocked over €100 billion in new investment for Europe’s energy security in 2024 and mobilised a further €110 billion for startups and scale-ups. Around half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average.
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Intesa Sanpaolo, with €421 billion in loans and over €1.4 trillion in customer financial assets at the end of September 2025, is the largest banking group in Italy, with a significant international presence. It is a European leader in wealth management, with a strong focus on digital and fintech. In the environmental, social and governance domain, it plans to make €115 billion in impact contributions to the community and green transition by 2025. Its programme to support people in need totals €1.5 billion (2023-2027). Intesa Sanpaolo’s Gallerie d’Italia museum network is an exhibition venue for its artistic heritage collection and cultural projects of recognised value.