EIB and Banca Sella Sign €100M Deal to Boost SME and Mid-Cap Innovation in Italy

This initiative particularly focuses on product and process innovation, as well as projects in cohesion regions.

The European Investment Bank (EIB) and Banca Sella have entered into a significant €100 million financing agreement aimed at bolstering investments and addressing the working capital and liquidity needs of small and medium enterprises (SMEs) and mid-caps. This initiative particularly focuses on product and process innovation, as well as projects in cohesion regions.

As part of its commitment to local businesses, Banca Sella will contribute an additional €100 million to the agreement with the EIB, thereby increasing the total funds available to SMEs and mid-caps to €200 million. This enhanced financial support will aid businesses in pursuing innovation and development in line with regional economic, social, and territorial policies.

Key Funding Allocations:

Innovation and Fast-Growing Companies: At least 30% of the EIB funds will be allocated to innovation-oriented or fast-growing companies. These funds will be used to support R&D projects, modernize business operations, and implement innovative processes.

Cohesion Regions: A further 20% of the funds will be earmarked for projects or companies in cohesion regions, which include Abruzzo, Basilicata, Campania, Calabria, Marche, Molise, Puglia, Sardinia, Sicily, and Umbria. This allocation aligns with the EU's regional development policy aimed at promoting balanced economic growth across all regions.

Loan Details:

Loan Amount: Businesses can apply for loans up to €12.5 million.

Interest Rate: Loans will be provided at a favourable interest rate.

Loan Term: The minimum loan term is 25 months.

Statements from Key Officials:

Gelsomina Vigliotti, EIB Vice-President: “Thanks to this agreement, the EIB is stepping up its support for Italian industry with two key priorities – innovation and economic development in cohesion regions.”

Giorgio De Donno, Co-Director and Deputy CEO of Banca Sella: “This financing agreement with the EIB is particularly important as it strengthens our core task of providing financial support for small businesses and mid-caps. These businesses are strongly committed to improving and adapting their processes to new technologies. Innovation capability is one of the key drivers of economic growth and development, especially in the current climate of increasing market globalisation and a strong impetus for innovation with high technological content. We are therefore tasked with supporting these businesses on this journey by providing the best available financing products.”

Impact on Italian SMEs and Mid-Caps:

This financing agreement is poised to significantly impact Italian SMEs and mid-caps by providing much-needed financial support to foster innovation and development. By prioritizing investments in R&D and modernizing business processes, these businesses can better compete in an increasingly globalized market. Moreover, the emphasis on supporting companies in cohesion regions underscores a commitment to balanced regional development, ensuring that economic growth benefits all areas of Italy.

The EIB and Banca Sella's €200 million financing initiative represents a robust effort to drive innovation and economic development among Italian SMEs and mid-caps. By offering accessible, favorable loans and targeting key areas of need, this partnership aims to bolster Italy's economic resilience and competitive edge in the global market.