- €300 million in new lending backed by European funding and guarantee instruments to support investment by European SMEs operating in the sector
- The partnership aims to encourage the production of satellite systems, the development of space infrastructure and the internationalisation processes of the Italian business supply chain
- Conference held today at Intesa Sanpaolo's Skyscraper in Turin brings together Italian and international institutions and industry leaders for the event “Finanza e aerospazio: le sfide per la creazione di campioni globali italiani” (Finance and Aerospace: Challenges in Creating Italian Global Champions) organised in collaboration with Confindustria
Intesa Sanpaolo, the European Investment Bank (EIB) and the European Space Agency (ESA) have signed a two-year agreement to support small and medium-sized enterprises operating across Italy's aerospace supply chain, one of the most strategic and innovative sectors of both the Italian and European economies.
Backed by European funding and dedicated guarantee instruments, the initiative will make available approximately €300 million in new financing to support investment by SMEs operating in a sector that is expected to generate around €7 billion in value added and €8 billion in exports in 2025 (equivalent to 1.2% of total manufacturing).
Gelsomina Vigliotti, Vice-President of the European Investment Bank: "With this first operation in Europe supporting SMEs across the space supply chain, carried out together with Intesa Sanpaolo and ESA, the EIB reaffirms its commitment to strengthening the competitiveness and strategic autonomy of European industry in a sector that is vital for innovation, security and the digital transition. The Space Lending Facility will mobilise up to approximately €400 million in new financing, expanding access to credit for highly innovative companies. For Italy's space sector, the partnership with Intesa Sanpaolo, combined with ESA's technical contribution, provides a practical channel for supporting investment in growth, research and industrialisation. In this way, European finance helps transform excellence and expertise into investment, highly skilled employment and greater competitiveness in international markets."
Intesa Sanpaolo is the only Italian bank and the first in Europe to establish a partnership with EIB and ESA under this new agreement, signed by the Bank's Banca dei Territori Division, headed by Stefano Barrese. The initiative is designed to accelerate the growth of SMEs operating in the aerospace sector and support their international expansion.
Stefano Barrese, Head of Intesa Sanpaolo's Banca dei Territori Division: "Italy's aerospace industry is characterised by the presence of highly specialised companies, many of them small businesses whose complementary capabilities are closely integrated with those of larger enterprises across the industrial supply chain. For Intesa Sanpaolo, the supply chain remains a key indicator of growth potential and innovation capacity, particularly in a sector that is becoming increasingly strategic for the country.
Thanks to our agreement with the EIB and ESA, we are today introducing a new opportunity, the first of its kind in Europe, to foster collaboration between companies, encourage the sharing of expertise and strengthen industrial relationships throughout both the domestic and international value chain. We are doing so by providing access to financial solutions, specialist advisory services and networking opportunities that will enable businesses to seize the opportunities offered by global markets."
Josef Aschbacher, ESA General Director: “We are delighted that Intesa Sanpaolo is the first bank to sign under the EIB–ESA Space Lending Envelope. For too many of our space SMEs, the barrier to growth is not technology but access to capital. This agreement changes that, giving Italian companies a real path to scale, compete globally, and strengthen Europe's strategic autonomy in space. ESA is proud to stand alongside the EIB and the banks to close that gap, and this first signature with Intesa Sanpaolo is exactly the impact we set out to deliver, with more to follow.”
The opportunities available to SMEs operating in the Space Economy within today's fast-evolving market environment were the focus of the conference “Finanza e aerospazio: le sfide per la creazione di campioni globali italiani” (Finance and Aerospace: Challenges in Creating Italian Global Champions), hosted today by the Group led by CEO Carlo Messina at the Bank's Skyscraper in Turin, home to one of Italy's leading aerospace industry hubs.
The initiative, aimed at strengthening Italy's competitiveness and international standing within the European and global space ecosystem, opened with welcome addresses by Gian Maria Gros-Pietro, Chairman of Intesa Sanpaolo, and Giorgio Marsiaj, Vice President of Confindustria with responsibility for the aerospace sector.
Gregorio De Felice, Chief Economist at Intesa Sanpaolo, presented an overview of current Space Economy trends. His presentation was followed by two panel discussions focusing on the needs of SMEs operating across Italy's aerospace supply chain, featuring Gemma Feliciani, Director of the Financial Institutions Department at the European Investment Bank; Anna Roscio, Executive Director, Sales & Marketing for Businesses, Banca dei Territori Division, Intesa Sanpaolo; and Massimo Comparini, Managing Director of Leonardo's Space Division.
The event continued with a round table bringing together leading companies from across the sector, including Andrea Romiti, Founder and CEO of APR; Massimo Bercella, CEO of Bercella; Nicoletta Regazzo, CFO of D-Orbit; Pietro Andronico, CEO and Founder of Nurjana Technologies; and Viviana Bacigalupo, General Manager of Intesa Sanpaolo Innovation Center.
The conference also featured contributions from leading representatives of Italian and European institutions, including Giancarlo Granero, Head of the Space Economy Unit at the European Commission; Antonio Bartoloni, Head of the Office for Space and Aerospace Policies at the Presidency of the Council of Ministers; Gianluigi Baldesi, Head of the Ventures and Financing Office at ESA; and Matteo Coletta, Head of Sector - Study Centre and New Space Economy (Italian Space Agency). The conference concluded with remarks by Marco Gay, President of the Turin Industrial Union.
The role of Intesa Sanpaolo, EIB and ESA in the Space Economy
Intesa Sanpaolo is the first European commercial bank to join the ESA Investor Network and has already made a tangible contribution to the growth of the aerospace sector, supporting more than 500 SMEs operating across the supply chain with over €1 billion in financing, corresponding to a market share of 33%. Through its Banca dei Territori Division, Intesa Sanpaolo provides a comprehensive range of services to businesses operating in the aerospace supply chain, spanning debt financing, equity growth solutions, partnerships with technology clusters and European Digital Innovation Hubs (EDIHs), as well as specialist advisory services to facilitate access to European funding programmes. From an organisational perspective, the Bank has established a dedicated supply chain desk staffed by engineers capable of assessing individual technologies, alongside a specialist team supporting companies in accessing European programmes.
Through its collaboration with Confindustria, the initiative will support knowledge sharing and encourage SMEs to invest in new high-potential advanced manufacturing models for the aerospace sector, in line with the multi-year agreement renewed last year.
The agreement with the EIB and ESA complements the solutions already available to SMEs and mid-caps and will enable Italy's leading banking group to support more than €2 billion in new lending during 2026, further strengthening a long-standing partnership built on innovative financing and risk-sharing instruments designed to support the development of the entrepreneurial ecosystem.
The European Investment Bank plays a central role in the financial architecture of the agreement by making available €150 million in European funding, which forms the cornerstone of the Space Lending Facility. Through a risk-sharing mechanism, the EIB will guarantee 50% of each loan granted by Intesa Sanpaolo, with maturities of up to 11 years and a 12-month grace period, significantly expanding the Bank's ability to support companies across the supply chain that would otherwise face difficulties in accessing conventional credit. This innovative approach will generate a substantial leverage effect: the €150 million provided by the EIB will enable up to €300 million in new medium- and long-term financing.
The European Space Agency will contribute to the initiative by providing technical and industrial expertise. Through dedicated promotional activities, ESA will seek to maximise the initiative's impact for Italian and European space companies, ensuring that businesses supported through ESA contracts and high-technology programmes have access to the capital required to scale up their operations and grow at industrial level.
Key elements of the partnership
The collaboration between Intesa Sanpaolo, the EIB and ESA stems from discussions initiated during the ESA Council at Ministerial Level held last November and is structured around the following strategic priorities:
- Supporting the growth of SMEs across Italy's entire aerospace supply chain, covering the full value chain from satellite and geolocation systems to space and telecommunications infrastructure, as well as research and development investment.
- Facilitating access to finance for European space SMEs through new lending resources. The EIB will provide €150 million, enabling approximately €300 million in medium- and long-term financing through a risk-sharing arrangement between the EIB and Intesa Sanpaolo.
- Providing dedicated advisory services to support innovation and internationalisation, including access to new markets, business expansion, equity transactions, tailored financing solutions such as Intesa Sanpaolo's Nova+ Space and Security programme, innovative value chain management and the development of an integrated industrial ecosystem.
- The initiative forms part of the broader European strategy aimed at strengthening the competitiveness and strategic autonomy of the space industry, a sector regarded as essential for security, telecommunications and industrial transformation.
A rapidly growing strategic sector: the characteristics and challenges of Italy's aerospace supply chain The Space Economy is now one of the world's fastest-growing industrial ecosystems. According to the Space Foundation, the global space sector generated approximately US$613 billion in economic value in 2024, representing growth of 7,8% compared with 2023. The market is expected to reach US$800 billion by 2027 and US$1 trillion by 2032. The sector combines advanced manufacturing, high technology, specialised services and scientific research, generating positive spillover effects across a wide range of industries, including energy, environmental technologies, ICT, healthcare and transport.
Italy is one of Europe's leading aerospace nations, with a supply chain comprising over 50,000 people and characterised by a strong presence of highly specialised SMEs. Italy's space industry encompasses the entire value chain, from software and electronics to engineering, telecommunications, mechanical engineering and spacecraft manufacturing. Many SMEs operating in the sector specialise in highly technological niche markets, alongside major integrated players offering a broad and diversified range of products and services. The sector's strong multidisciplinary nature encourages collaboration between different stakeholders and promotes the continuous transfer of knowledge, fostering innovation and creating powerful synergies.
However, long development cycles, the predominance of intangible assets and the limited availability of tangible collateral often make it difficult for many SMEs to secure conventional financing. Strengthening financial support for the private sector is therefore essential to ensuring industrial continuity, enhancing competitiveness and enabling Europe to deliver both strategic and commercial space missions.
Background information
EIB Group
The European Investment Bank Group (EIB Group) is the financial arm of the European Union, owned by its 27 Member States, and is one of the world's leading multilateral development banks. In 2025, the EIB Group signed €100 billion in new loans and advisory services to support more than 870 high-impact projects across eight strategic priorities that contribute to the EU’s policy objectives: climate action and environmental sustainability, digitalisation and technological innovation, security and defence, territorial cohesion, agriculture and the bioeconomy, social infrastructure, strong global partnerships, and the Savings and Investments Union. In addition to providing long-term financing for major infrastructure projects, the EIB Group catalyses private investment in businesses and high-risk innovative projects. It also plays an increasingly important role in the European markets for venture debt, venture capital, guarantees and securitisation. Photographs of EIB Group representatives, together with images of its headquarters, logos and B-roll footage for media use, are available here.
Intesa Sanpaolo
Intesa Sanpaolo, with €430 billion in loans and €1,400 billion in customer financial assets at the end of March 2026, is the largest banking group in Italy with a significant international presence. It is a European leader in wealth management and operates through an integrated Wealth Management, Protection and Advisory platform, built on fully controlled product factories and distribution networks managed under full strategic control. In the ESG field, it ranks among the global leaders for social impact and reaffirms its commitment to decarbonisation and supporting clients in the sustainable transition. The Bank's museum network, the Gallerie d'Italia, is an exhibition venue for the Bank's own artistic heritage and cultural projects of recognised value.
News: group.intesasanpaolo.com/it/newsroom X: @intesasanpaolo LinkedIn: linkedin.com/company/intesa-sanpaolo