ISP LOAN FOR AGRICULTURE FOR SMES AND MIDCAPS

Promoteur – Intermédiaire Financier

INTESA SANPAOLO SPA

Lieu

• Italie

Description

EUR 100 million facility backed by multiple assignment of rights to allow Intesa Sanpaolo to continue lending to small and medium-sized enterprises (SMEs) and mid-caps in the agricultural and bioeconomy sector, with a 10% Climate Action window.

Additionality and Impact

The loan is expected to support EU policy objectives, such as modernisation in the agriculture sector, energy efficiency and rural development. It also supports the New CAP 2023-2027 that combines higher environmental, climate and animal welfare 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 via investments in emissions reduction. It can also help strengthen EU socio-economic cohesion. This operation supports the agriculture/bioeconomy sector in general.

Objectifs

EUR 100 miilion facility backed by multiple assignment of rights to allow Intesa Sanpaolo to continue lending to SMEs and mid-caps in the agricultural and bioeconomy sector.

Secteur(s)

• Lignes de crédit - Lignes de crédit

Montant BEI envisagé (montant approximatif)

EUR 100 million

Coût total (montant approximatif)

not applicable

Aspects environnementaux

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Passation des marchés

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Statut

Signé - 8/08/2022