Economy
EU boosts financing for Italian SMEs with €30 million from #EuropeanInvestmentFund
The European Investment Fund is investing €30 million in the PMI Italia II private debt fund under the Investment Plan's European Fund for Strategic Investments. PMI Italia II is managed by Finint SGR, and its aim is to support the growth and internationalization of Italian small and medium-sized businesses (SMEs).
The PMI Italia II Fund's target is to have available €150m for SMEs by June 2020. Economy Commissioner Paolo Gentiloni said: “I am proud that already 300,000 SMEs are benefitting from improved access to finance in Italy thanks to agreements under the Investment Plan for Europe. Small and medium-sized businesses in Europe still face the challenge of obtaining the necessary financing to grow, develop and take on more staff. Today's agreement is a step forward to ensure that SMEs benefit from alternative funding solutions.”
The press release is available here.
As of February 2020, the Investment Plan for Europe has mobilized €462.7 billion of investment across the EU, including €70.2bn in Italy, and supported more than 1.1 million start-ups and small and medium-sized businesses.
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