EIB to lend Mediocredito €70M to support sustainable investments by Italian companies

In parallel, the EIB and Mediocredito Trentino-Alto Adige signed an advisory agreement aimed at stepping up investments supporting the green transition.

The European Investment Bank (EIB) agreed to lend Mediocredito Trentino-Alto Adige €70 million with the backing of insurer SACE to support environmentally sustainable investments by companies in Italy as well as their working capital. An initial tranche of €35 million, 80% guaranteed by SACE, was signed today.

The EIB loan will enable Mediocredito Trentino-Alto Adige to offer companies additional funding on favourable terms. That in turn will facilitate the companies' access to long-term financing with more competitive interest rates. The accord is projected to help unlock total investments worth more than €140 million in the real economy, of which at least a quarter will be allocated to projects helping to promote the green transition. Around 70% of the funds will be allocated to small and medium-sized enterprises (SMEs), while the remaining 30% will go to mid-caps.

In parallel, the EIB and Mediocredito Trentino-Alto Adige signed an advisory agreement aimed at stepping up investments supporting the green transition. The EIB advisory services, provided under the Green Gateway programme, will help Mediocredito Trentino-Alto Adige assess the eligibility of green projects and monitor their impact. It is also meant to strengthen Mediocredito Trentino-Alto Adige's understanding of the EU taxonomy and to encourage the development of new financial products dedicated to climate action.

"This operation demonstrates the EIB's strong commitment to supporting economic growth and the decarbonisation of Italian industry,' said EIB Vice-President Gelsomina Vigliotti. 'In addition to providing funds on favourable terms, the EIB will make available advisory services to help increase the share of sustainable financing and thus promote the green transition of the economy."

SACE Chief Executive Officer Alessandra Ricci said: "We are pleased to work together with the EIB alongside Mediocredito Trentino-Alto Adige in this key operation, which enables us to support small and medium businesses in their most important and strategic projects, such as in sustainability. All this makes this operation a great opportunity to impact more than just the real economy and the community."

General Manager of Mediocredito Trentino-Alto Adige Diego Pelizzari said: "We are delighted to have received this prestigious vote of confidence from the European Investment Bank and SACE. We are keen to capitalise on the opportunities provided by the European Union and transfer them quickly to the local economy in Trentino-Alto Adige and the north-east of Italy. We are also grateful for the support of the EIB's advisory service, which will not only enrich our strategic know-how but will also enable us to promote sustainable investments and actively contribute to the green transformation of businesses."