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Italian companies will receive 26 million Euros from the EU

A new wave of supports by the European Union for Italian SMEs

Italian companies will receive 26 million Euros from the EU

Claudia Astarita

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The European Investment Fund (EIF) has recently signed an agreement with Confidi Systema! within the framework of the bigger program sponsored by the European Commission, Horizon 2020. The agreement signed is aimed at supporting Small and Medium Enterprises (SMEs) in Italy with 26 thousand million Euros. Both signatories play the role of protagonists of the investments panorama in Italy and in Europe as well. In particular, the EIF is part of the European Bank Group, whose main mission is the one of supporting SMEs mostly through micro-credit and risk capital tools.

Confidi Systema! is a regulated financial mediator active in supporting PMI loans applications by providing to them the guarantees required. Furthermore, Confidi Systema! presents a great knowledge of the territory and of the Italian market. Not only Confidi Systema! will play the role of guarantor for new loans devoted to SMEs but also gives new guarantees to the existing ones. At the end of 2016, Confidi Systema! had a portfolio of existing loans of 1063 million Euros, divided by 18.893 loans. Early estimates reveal that about 200 companies will benefit from this initiative, mostly located in the North-West part of Italy.

Jyrki Katainen - vice-president of the EU Commission - has enthusiastically commented on the agreement, also showing great appreciation for Italy: "Italy keeps achieving excellent results in the field of investments. I am glad that this new agreement will open up new funds for 200 SMEs more, which will be able to keep growing, innovating, expanding and creating new job opportunities.

Also Pier Luigi Gilibert - Chief Executive of the EIF - declared to be very satisfied with the new agreement between the EIF and Confidi Systema! not only because it included all EU member states but because this operation will create a remarkable added value Italian companies.

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