BAKU, Azerbaijan, January 21. The European Investment Bank (EIB) and Banco Desio have finalized a 200 million euro agreement to provide new financing for small and medium-sized enterprises (SMEs) and mid-caps in Italy, aimed at fostering innovation, Trend reports.
This initiative will enable a total of 400 million euros in investments, with the first 60 million euro tranche signed in Milan by EIB Vice-President Gelsomina Vigliotti and Banco Desio CEO Alessandro Decio.
The agreement includes a further 60 million euro credit line from Banco Desio, bringing the total available financing to 120 million euros for businesses. The financing is designed for businesses with fewer than 250 employees (SMEs) or up to 2,999 employees (mid-caps), offering favorable interest rates for projects focused on innovation and digitalization.
Vigliotti emphasized the importance of SMEs in Italy’s economy, stating, “These businesses are vital not only for job creation but also for their role in driving innovation and technology adoption.” Decio also highlighted the collaboration’s potential to support growth and competitiveness for businesses across Italy’s regions.