EIB approves €160m package for Tuscany SMEs
The European Investment Bank (EIB) has approved a €160m ($174m) financing package to bolster the growth and operational capabilities of micro, small, and medium-sized enterprises (SMEs) in Tuscany, Italy.
The region will contribute an additional €10m to lower the interest rates for the eligible companies, further reducing financial pressures on these businesses.
This financial package will be accessible to the 321 companies that were selected in the 2023 research and development calls.
These companies will be eligible to tap into the EIB credit line from 17 March 2025, provided they reaffirm the option they selected during their application process to fund their investments in productive activities, research, innovation, and operational capital.
The subsidies will be applied to loans provided by banks that were chosen through a regional public call. The financing can also include a refund of guarantee fees.
The participating banks include Banca Monte dei Paschi di Siena, Banca Cambiano, Cambiano Leasing, and BCC Banca Iccrea, which will benefit 12 cooperative banks in Tuscany that are members of BCC Iccrea Group and Federazione Toscana delle BCC.
The beneficiaries of this financial operation span across various sectors, including manufacturing, tourism, and research and development.
Sviluppo Toscana will assess subsidy applications, with project costs ranging from €70,000 (€90,000 for research and development projects) to €5m.
The subsidies will cover up to 80% of investment project financing and up to 90% for projects that contribute to climate action.
Once financing is in place, companies will have 15 months to complete their investment projects.
Tuscany president Eugenio Giani and economy and tourism regional councillor Leonardo Marras said: “We want to improve the competitiveness of our micro, small and medium-sized enterprises by backing their productive investment in expansion, diversification, system consolidation and the green, technological and digital transition.
“Micro, small and medium-sized enterprises are the backbone of the regional productive system in Tuscany."
Earlier this month, the EIB provided €132m in guarantees to Erste Bank Croatia (ESB) to expand lending to Croatian businesses.
"EIB approves €160m package for Tuscany SMEs" was originally created and published by Leasing Life, a GlobalData owned brand.
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