Access Subsidized Financing for SMEs through Banco BPM and Other Banks: A Cooperation Agreement with Simest

2023-07-24 12:34:07

(Alliance News) – Banco BPM Spa announced on Monday that it had signed an agreement with Simest, the internationalization company of Cassa Depositi e Prestiti group companies, as well as with other banks: Banca Monte dei Paschi di Siena Spa, BNL BNP Paribas SA, Gruppo BCC Iccrea Spa, Intesa Sanpaolo Spa and UniCredit Spa.

This cooperation agreement, the company explains in a note, serves to channel, also through the banking channel, subsidized loans from Fund 394, managed by Simest on behalf of the Ministry of Foreign Affairs and International Cooperation.

Structured with the support of ABI, this is the first agreement ever signed by Simest with financial institutions. The aim is to expand the number of businesses served, particularly SMEs, by leveraging the widespread presence of the banking channel in the region.

Indeed, companies will be able to access Simest’s subsidized financing tools through their own bank, which will in turn be able to support the company by granting it its own ordinary financing, in addition to the intervention of Simest.

Through Fund 394, companies can benefit from financing at subsidized rates starting at approximately 0.4%, July 2023 rate, to which can be added a non-refundable co-financing share of up to 10%.

The main characteristics of the subsidized financing are support for investments for the ecological and digital transition and the strengthening of the equity of companies with an international vocation.

Benefits are expected for companies in export-oriented production chains and for companies affected by rising energy costs.

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Specific conditions are also envisaged for companies with direct interests in strategic areas for Made in Italy, such as the Western Balkans, and for those located in areas affected by the recent floods in Emilia-Romagna.

Banco BPM is in the split red at 4.43 euros; Banca MPS is in the red 0.1% to 2.53 euros; Intesa Sanpaolo is down 0.2% to 2.52 euros and UniCredit is in the split red at 22.20 euros per share.

By Chiara Bruschi, journalist at Alliance News

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