The European Investment Fund (EIF) and Confidi Systema! have signed an agreement under the European Commission's InnovFin initiative, supported by the EU's Horizon 2020 research and innovation programmes. The agreement provides for €26 million in financing for innovative Italian small and medium-sized enterprises and small mid-caps over the next two years. This operation also benefits from the support of the European Fund for Strategic Investments (EFSI), the heart of the Investment Plan for Europe.

The European Investment Fund will provide a counter-guarantee that will enable Confidi Systema! to increase its guarantee volumes and, consequently, assist SMEs in accessing credit. The operation is expected to generate a portfolio of up to €26 million in bank loans, which will benefit over 200 companies located primarily in north-west Italy.

Further information:

http://www.eif.org/what_we_do/guarantees/news/2017/efsi_innovfin_confidi_systema.htm