The European Investment Fund (EIF) and Banco delle Tre Venezie (BTV) have signed a loan agreement of EUR 11.5 million, which will provide EUR 23 million of credit facilities for small and medium-sized enterprises (SMEs) and small mid-caps in Italy.
Under the new agreement, BTV will offer attractive loans to Italian SMEs and small mid-caps primarily in the Veneto region over the next three years. The EUR 11.5 million loan is backed by the EIB Group’s Cooperative Banks and Smaller Institutions (CBSI) Instrument, which provides long-term senior loan financing to financial institutions for the ultimate benefit of SMEs and small mid-caps.
EIF Chief Executive, Pier Luigi Gilibert, commented: “We are delighted to sign this loan agreement with one of our new financial intermediaries, Banco delle Tre Venezie. Under this new agreement, EUR 23 million will be provided to Italian companies, an amount which will help strengthen support for Italian businesses and which will create jobs and growth in the region.”
BTV Chief Executive Officer, Fabrizio Tofanelli said that: "We are highly satisfied with the terms of this Loan Agreement and we expect a positive effect for the Italian SMEs in the north east. Furthermore, we are proud of being the first Italian bank and among the first ones in Europe having signed this Agreement.”
The European Investment Fund (EIF) is part of the European Investment Bank group. Its central mission is to support Europe's micro, small and medium-sized businesses (SMEs) by helping them to access finance. EIF designs and develops 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.
About BANCO DELLE TRE VENEZIE
Banco delle Tre Venezie (BTV) is a Commercial bank providing an innovative banking model. BTV especially serves the corporate market by granting short commercial credit and mainly supporting medium long term finance operations. The support of BTV includes also a Private banking and Advisory service dedicated to create made tailor solutions and investment opportunities. The position is strategic and global with five operative branches located in Padua, Treviso, Venice, Verona and Vicenza providing personalized assistance. The main clients are SMEs enterprises (Small – Medium Sized) based on a flexible organization and high technology but also small mid-caps whose find Banco delle Tre Venezie a reliable partner ready to listen and able to offer financial dedicated solutions.
About the Cooperative Banks and Smaller Institutions mandate (CBSI)
The CBSI Instrument, is an EIB Group effort, providing senior loan financing to cooperative banks and other smaller financial institutions for the ultimate benefit of SMEs and small midcaps.
Following 5 years of a very successful implementation of the European Progress Microfinance Facility, where EIF has provided lending to small financial intermediaries reaching thousands of micro-enterprises that were supported in an earlier stage of their growth, the launch of the CBSI Instrument will contribute in a first phase to the sustainability and growth of approximately 3,000 companies across 8 or 9 different EU countries overall.Press contacts:
EIF: David Yormesor
Tel.: + 352 24 85 81 346, E-Mail: firstname.lastname@example.org
Banco delle Tre Venezie: Vittorio Tommasini
Tel.: + 39 049 82 08 418, E-mail: email@example.com