BAKU, Azerbaijan, March 7. The European Investment Bank (EIB) has agreed to lend 70 million euros to Mediocredito Trentino-Alto Adige, with the support of insurer SACE, Trend reports.
According to the bank, this funding aims to back environmentally sustainable investments by companies in Italy, including support for their working capital. The first portion of 35 million euros, with 80 percent guaranteed by SACE, was signed today.
This EIB loan will help Mediocredito Trentino-Alto Adige provide additional funding to companies on favorable terms. This, in turn, will make it easier for these companies to access long-term financing with more competitive interest rates.
The agreement is expected to unlock over 140 million euros in total investments in the real economy, with at least 25% dedicated to projects promoting the green transition. Approximately 70 percent of the funds will support small and medium-sized enterprises (SMEs), while the remaining 30 percent will go to mid-sized companies.
In addition, the EIB and Mediocredito Trentino-Alto Adige have signed an advisory agreement to boost investments supporting the green transition. The EIB advisory services, part of the Green Gateway program, will assist Mediocredito Trentino-Alto Adige in evaluating the eligibility of green projects and monitoring their impact. This collaboration also aims to enhance Mediocredito Trentino-Alto Adige's understanding of the EU taxonomy and encourage the development of new financial products dedicated to climate action.