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The loan will finance eligible investments made by small and medium-sized enterprises (at least 70%) and mid-caps (up to 30%) in Italy.
The aim is to finance small/medium projects carried out by the final beneficiaries. Up to 30% of the operation will be dedicated to innovation.
This intermediated operation with Banco Desio eases financial constraints for SMEs and MidCaps in Italy and is also expected to support innovation (min. 30%) The operation addresses the failure in financial markets for SMEs and MidCaps 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 which is even stronger for innovative companies. The operation is expected to contribute to financing of smaller innovative companies in Italy which generate significant positive externalities through the creation of innovative processes, products or services. Through advantageous terms such as longer tenor and flexible drawdowns, the EIB contribution to the project is very good.
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.