EIF, Alba Leasing provide EUR 1 bln to SMEs

Tuesday 20 October 2020 13:31 CET | News

The European Investment Fund (EIF) and Italy-based Alba Leasing have come to an agreement to jointly provide EUR 1 billion in new financial resources to SMEs in Italy.

The European Investment Bank (EIB) and its subsidiary the EIF have provided the corporate leasing specialist with EUR 490 million via a securitisation financing operation. Alba Leasing has undertaken to double this, increasing the total amount available to almost EUR 1 billion (EUR 980 million) for projects across all economic sectors, with a particular focus on environmental investments (for which 20% of the resources have been reserved).

In concrete terms, the securitisation operation concerns a portfolio of performing loans held by Alba Leasing, for which the EIB Group has subscribed senior and mezzanine securities. At least two-thirds of the total will go to financial leasing investments by micro, small and medium-sized enterprises, while a third will go to mid-caps.

The final amount available will make it possible to finance up to 100% of new investments and projects, with a maximum of EUR 12.5 million for each leasing operation. 8,000 Italian businesses are expected to benefit from these new resources.

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Keywords: EIF, EIB, Alba Leasing, SME, Italy, corporate leasing, environmental investments
Categories: Banking & Fintech
Countries: Italy
This article is part of category

Banking & Fintech