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Investment Plan for Europe: EIF and Mediocredito Trentino-Alto Adige sign EFSI agreement for innovative companies in Italy

    Date: 13 October 2015
The European Investment Fund (EIF) and Mediocredito Trentino-Alto Adige, have signed a guarantee agreement to increase lending to innovative small and medium-sized enterprises (SMEs) and small mid-caps in Italy. This transaction benefits from the support of the European Fund for Strategic Investments (EFSI) through which the Investment Plan for Europe will be deployed by the European Commission and the EIB Group.

The new agreement will allow Mediocredito Trentino-Alto Adige to provide EUR 30m of loans to innovative companies in Italy over the next 2 years. The loans will be enabled by an EIF guarantee under the “EU InnovFin finance for Innovators” initiative with financial backing from the European Commission's Horizon 2020 programme. The agreement signed today in Italy will make it possible for Mediocredito Trentino-Alto Adige to offer innovative companies additional financing at favourable conditions.

Carlos Moedas, European Commissioner  for Research, Science and Innovation commented: "I am delighted about this new Investment Plan supported agreement to grant access to more financing to small and medium enterprises in Italy. With this deal more than €30 million in loans will be made available to innovative businesses in Italy over the next 2 years, adding to the existing Investment Plan backed funding opportunities for innovative business ideas in Italy."

EIF Chief Executive, Pier Luigi Gilibert commented: “I am pleased to be signing this EFSI Guarantee deal under InnovFin for Italian SMEs with Mediocredito Trentino-Alto Adige. The new European Fund for Strategic Investments helps us to increase our support for innovative companies and this transaction will help companies in Italy to benefit from this funding.”

Franco Senesi, Chairman of Mediocredito Trentino-Alto Adige declared: "EFSI Agreement could be considered one of the strategic objectives of our Bank, as it contributes to the financial support of the most innovative and preeminent companies of our Region and North East of Italy. This area is among the richest in leading companies specializing in new technologies in Italy”.

This is one of the first InnovFin transactions in Italy signed thanks to EFSI support. The deal reflects the EIB Group’s commitment to respond swiftly to calls from Member States, the European Commission and the European Parliament for a rapid launch of concrete initiatives under EFSI, accelerating lending and guaranteeing transactions capable of boosting jobs and growth in the EU.

About the European Investment Fund

The European Investment Fund's (EIF) is part of the European Investment Bank group. Its central mission is to support Europe's micro, small and medium-sized businesses by helping them to access finance. EIF designs and develops both venture and growth capital, guarantees and microfinance instruments which specifically target this market segment. In this role, EIF fosters EU objectives in support of innovation, research and development, entrepreneurship, growth and employment. EIF’s total net commitments to private equity funds amounted to over EUR 8.8bn at end 2014. With investments in over 500 funds, EIF is a leading player in European venture due to the scale and the scope of its investments, especially in high-tech and early-stage segments. EIF’s guarantees loan portfolio totalled over EUR 5.6bn in over 350 operations at end 2014, ranking it as a major European SME guarantee provider and a leading micro-finance guarantor.

About Mediocredito Trentino-Alto Adige

The bank has been active for more than 60 years supporting and promoting the economic activities of small-and-medium-sized businesses by way of medium-long term credit, financial advising, extraordinary finance operations and leasing. Mediocredito performs its role of a Corporate and Investment Bank for SME and Mid Caps of North-East of Italy, with particular attention to their dimensional and technological growth. At 31st December 2014 Mediocredito’s Equity amounted to EUR 0,2bn and total Assets amounted to EUR 1,7bn.

About the Investment Plan for Europe Investment Plan for Europe

About InnovFin InnovFin

About Horizon2020 http://ec.europa.eu/programmes/horizon2020/en

Press contacts:

EIF: David Yormesor Tel.: +352 42 66 88 346, e-mail: d.yormesor@eif.org

Mediocredito Trentino-Alto Adige: Franca Belli Tel.: +39 0461 888511, e-mail: fbelli@mediocredito.it

European Commission: Annika Breidthardt/Lucia Caudet Annika.breidthardt@ec.europa.eu, lucia.caudet@ec.europa.eu


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