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The project consists of a Multi Beneficiary Intermediated Loan (MBIL) to SIMEST S.p.A.
The aim is to support the growth and expansion of Italian small and medium sized enterprises (SMEs) and mid-caps across the EU. The project also includes specific climate action and innovation windows.
The Project facilitates access to finance for Italian SMEs and Mid-Caps for their growth and expansion in Italy and in other countries inside the EU. With its dedicated windows, the Project is also expected to support green projects and investments in innovation or innovative companies. The Project addresses a number of market failures, such as failure in financial markets for provision of financing for SMEs and Mid-Caps, arising from limited access and/or high cost of financing charged by creditors as a result of information asymmetries, lack of collateral and imperfect screening and monitoring. This is particularly the case for innovative companies and those with internationalisation objectives due to higher perceived risks. In addition, it is expected to generate positive externalities through the creation of innovative processes, products or services and through skills development and upgrading; as well as reducing dependency on energy imports by contributing towards increasing security of renewable energy supply. Through an intermediated approach, the Bank will provide financing with favourable terms to final beneficiaries which could not be reached otherwise.
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.