EIB and Intesa Sanpaolo provide EUR 200m for renewables

The European Investment Bank (EIB) and the Intesa Sanpaolo Group are to provide medium to long-term finance of EUR 680m for Italian SMEs, and Italian organisations undertaking projects in the energy, environment and infrastructure sectors.

The European Investment Bank (EIB) will offer EUR 300m for industrial initiatives and new services, EUR 200m for renewables and the environment, and a further tranche of EUR 180m is earmarked for infrastructure projects.

According to the EIB and the Intesa Sanpaolo Group, the initiative is intended to strengthen the support offered to Italy’s manufacturing sector in order to “mitigate the effects of the financial crisis and help with the incipient recovery process”, a statement said.

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