EIB and Banco Desio Launch €400 Million Financing Initiative to Support Innovation in Italian Businesses

EIB and Banco Desio Launch €400 Million Financing Initiative to Support Innovation in Italian Businesses

(IN BRIEF) In Milan, the European Investment Bank (EIB) and Banco Desio signed the first €60 million tranche of a €200 million credit line designed to boost €400 million in investment for Italian SMEs and mid-cap businesses. The initiative aims to support projects that foster innovation and digitalisation, with at least 30% of the funds allocated for technology-focused investments. The deal, which will provide businesses with favourable financing terms, was signed by EIB Vice-President Gelsomina Vigliotti and Banco Desio CEO Alessandro Decio. Both institutions hope the funding will enhance Italy’s economic competitiveness through technological advancements in businesses.

(PRESS RELEASE) LUXEMBOURG, 22-Jan-2025 — /EuropaWire/ — In Milan today, the European Investment Bank (EIB) and Banco Desio marked the signing of the first €60 million tranche of a €200 million credit line aimed at stimulating €400 million in investment across the Italian economy. This agreement is designed to provide financing opportunities for small and medium-sized enterprises (SMEs) and mid-cap businesses, enabling them to pursue innovation and digitalisation initiatives crucial to their growth.

The €200 million agreement will help businesses in Italy access affordable financing, with the goal of fostering technological advancements and promoting innovative projects. The €60 million tranche, signed by EIB Vice-President Gelsomina Vigliotti and Banco Desio’s CEO and General Manager Alessandro Decio, marks the first phase of this initiative. Banco Desio has also committed to guaranteeing an additional credit line of €60 million, bringing the total available funding to €120 million for the first round.

Over the next 24 months, the financing will be used to support innovation, digitalisation, and investments in cutting-edge technology. At least 30% of the allocated funds will be dedicated to projects that encourage technological growth. Eligible businesses include SMEs with fewer than 250 employees and mid-cap companies with fewer than 3,000 employees, both of which will benefit from the favourable terms offered under this financing scheme.

Gelsomina Vigliotti, EIB Vice-President, emphasized the importance of SMEs in driving economic growth and innovation. “Small and medium-sized businesses are vital to Italy’s economy. Not only do they create jobs, but they also play a key role in adopting new technologies. This agreement is designed to give hundreds of innovative companies access to the financing they need to continue contributing to Italy’s competitiveness,” she noted.

Alessandro Decio, CEO and General Manager of Banco Desio, expressed the bank’s commitment to supporting technological development and regional growth. “We are delighted to work with the European Investment Bank again to provide essential financing for innovative projects within SMEs. This agreement will help companies in our regions grow and improve their competitiveness, paving the way for a more innovative future.”

Background information

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. It finances investments that contribute to EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality. In the last five years, the EIB Group has provided more than €58 billion in financing for projects in Italy. All projects financed by the EIB Group are in line with the Paris Climate Agreement. The EIB Group does not fund investments in fossil fuels. We are on track to deliver on our commitment to support €1 trillion in climate and environmental sustainability investment in the decade to 2030 as pledged in our Climate Bank Roadmap. Over half of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment. Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower.

BANCO DI DESIO E DELLA BRIANZA S.P.A. Banco Desio was established in 1909 and has been listed on the Milan Stock Exchange since 1995. Today, it is a modern multi-product banking group that is both future-oriented and respectful of tradition, with deep local roots and an organisational structure that is based on offering quality services to customers, including via digital channels. The Banco Desio Group operates in northern Italy, central Italy and Sardinia, with a distribution network of 281 branches and around 2 400 employees. It is also active in the consumer credit sector with Fides S.p.A. and Dynamica Retail S.p.A., financial companies that are specialised in salary-backed loans. In the asset management and bancassurance sector, it operates through distribution agreements with leading national and international counterparties. It holds over €18 billion in total assets.

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SOURCE: European Investment Bank