EIB supports SME with 200 MLN € in cooperation with Illimity

The European Investment Bank and Unlimited Bank S.p.A. have finalised an agreement for investing 200 Million euro to support SMEs, with a focus on sustainable investments and companies operating in the Cohesion Regions. The agreement, which further consolidates the excellent cooperation between the two banks, will lead to the deployment of 100 million euro each in 2023, guaranteeing SMEs access to credit on favourable terms. illimity will guarantee 100 million euro in funding available to small and medium-sized businesses through b-ilty, the illimity Group’s digital bank specialising in financial services and credit for businesses with a turnover of between 2 and 15 million euro. b-ilty, thanks to its entirely digital platform and flexible structure, has no territorial constraints and will therefore be able to best support the various businesses spread throughout Italy. In detail, the agreement stipulates that more than 30% of the funds will be allocated to finance companies operating in the cohesion regions (Molise, Campania, Pugli, Basilicata, Calabria, Sicilia, Sardegna, Abruzzo, Umbria, and Marche) in line with the European Union’s transversal objective of economic, social, and territorial development. In addition, at least 20 per cent of the new finance will have to support investments by Italian companies dedicated to energy transition. Particular attention will be paid to supporting projects in line with the European Union’s priority objectives for achieving environmental sustainability through the development of renewable energy (solar photovoltaics), energy efficiency, sustainable mobility (electric vehicles and recharging infrastructure), and sustainable water and waste management projects.