BAKU, Azerbaijan, March 31. The European Investment Bank (EIB) and Banca Popolare di Sondrio have signed an agreement to mobilize over 300 million euros for small and medium-sized enterprises (SMEs) and mid-caps in Italy’s agriculture and bioeconomy sectors, with a focus on green projects, Trend reports.
This is the first operation in Italy under the EIB’s 3 billion euro package dedicated to agricultural SMEs.
The initiative includes a 150 million euro covered bond issued by Banca Popolare di Sondrio, fully subscribed by the EIB, with an additional 150 million euros from five participating banks. The funds will support projects such as renewable energy installations, soil improvement, and animal welfare enhancements.
Other financial institutions from the Luigi Luzzatti banking consortium, including Banca Popolare di Fondi and Banca Popolare Pugliese, are involved to ensure the widespread distribution of funds, particularly in economically disadvantaged regions. At least 30% of the resources will be allocated to climate action, water efficiency, and biodiversity protection projects.
