Italy, EIF and A.T.I. Fidi. Gar. Sign €280m Agreement to Guarantee SME Loans
Summary
have signed a counter-guarantee agreement for €280m under the Competitiveness and Innovation Framework Programme (CIP) providing enhanced access to finance for small and medium sized businesses (SMEs) in Italy.for new guarantees up to €560m on working capital and investment loans to SMEs.is a specially-created joint venture of three regional mutual guarantee institutions (in Italy, they are called Confidi) which joined forces in order to cover a larger territory with CIP-supported guarantees.It includes: – Eurofidi, a Turin-based confidi which operates in Piemonte, Valle d’Aosta, Lombardia, Liguria, Trentino Alto Adige, Emilia Romagna, Toscana, Marche, Umbria, Lazio, Abruzzo and Molise.It is the largest mutual guarantee institution in Europe; – ApiVeneto Fidi, a Vicenza-based institution operating in Veneto; – Sardafidi, a Cagliari-based confidi which works with Sardinia’s SMEs.