Green transition: 88 million euros for Italian SMEs

Transizione verde

The European Investment Fund, supported by the InvestEU programme, has signed three new agreements with Endeka SGR, Banca Cassa di Risparmio di Savigliano S.p.A. and Azimut Investment SA for a total value of 88 million euros, to support the green transition of SMEs in Italy.

The agreement with Endeka SGR covers a commitment by the Fund of 25 million euros as the main investor of the Endeka Credito Italia I fund; it will be focused on financing Italian SMEs and promoting environmental and/or social characteristics.

The agreement with Banca Cassa di Risparmio di Savigliano PLC provides for a guarantee from the Fund of 32,9 million euros to support SMEs and small mid-caps in Italy, with particular attention to sustainability. More than 80% of the resources made available by the Fund will be allocated to green and sustainable projects, which will facilitate access to finance for more than 65 SMEs, operating mainly in Piedmont.

The agreement with Azimut Investment SA refers to a commitment by the Fund of 30 million euros as the main investor of the Azimut Diversified Corporate Credit fund, which will help Italian companies, especially SMEs and mid-caps, to finance their investment and growth plans. The fund aims to promote and improve the social and environmental aspects of borrowers, such as increased energy efficiency, the transition to a circular economy, gender equality and the development of local communities.