Italy: Agreement between EIB and SIMEST – over €90 million to promote Italian companies abroad

This article is published in association with European Investment Bank.

• €46 million loan from EIB to SIMEST will unlock the funds
• This agreement aims to promote two strategic priorities: the green economy and innovation
• The EIB will provide advisory services to bolster SIMEST’s support for innovation and green transition

The European Investment Bank (EIB) and SIMEST signed an agreement to support the expansion of Italian businesses in Europe through innovative and sustainable investments.

In concrete terms, the EIB will provide a €46 million loan to SIMEST, which will enable it to channel additional resources on favourable terms to promote the expansion of Italian small businesses (SMEs) and mid-caps within the European Union. This will enable them to access medium to long-term financing on more competitive terms to support their projects abroad. The operation will support more than €90 million worth of investments in the real economy.

The agreement aims to promote two strategic priorities – the green economy and innovation – to which almost half of the funds made available by the EIB are dedicated. 

Along with the signing of the finance contract today, an agreement was signed to provide a free EIB technical advisory service (funded by the InvestEU Advisory Hub programme) designed to facilitate the identification and structuring by SIMEST of green and innovative projects and monitor their impact.

EIB Vice-President Gelsomina Vigliotti said: “This agreement will not only increase the international competitiveness of Italian companies but will also improve their environmental footprint thanks to our advisory services.”

SIMEST CEO Regina Corradini D’Arienzo said:“The financing agreement signed today launches the first joint operation between SIMEST and the European Investment Bank aimed at promoting sustainable investments to increase the international competitiveness of Italian companies. This will put corporate Italy on the front foot on global markets by providing subsidised funds focusing on Italian small businesses.”

Background information

The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It finances sound investments that can contribute to EU policy. EIB projects strengthen competitiveness, foster innovation, promote sustainable development and improve social and territorial cohesion while supporting a fair and rapid transition towards climate neutrality. In the past five years, the EIB Group has provided more than €58 billion in financing for projects in Italy.

Funded by the InvestEU Advisory Hub, the Green Gateway advisory programme was set up by the EIB to help financial institutions speed up lending for climate action and environmental sustainability projects as part of EIB financing. The Green Gateway advisory programme has two main areas of intervention: online tools and a bilateral advisory programme. Online tools include a green eligibility assessment tool – the Green Eligibility Checker – and an e-library with guidelines and case studies on green eligibility criteria. The bilateral advisory programme provides capacity building, market analysis and support to banks to speed up and increase green lending to small and medium businesses, mid-caps and public entities. Six financial institutions in Italy have benefited from the Green Gateway’s bilateral advisory service so far.

SIMEST is the company of the Cassa Depositi e Prestiti Group that supports the growth and competitiveness of Italian companies that operate abroad. SIMEST supports the company throughout the international development cycle, from the first evaluation of opening in a new market up to expansion through foreign direct investments. The lines of business are soft loans, equity investments and export support.