New credit boost for Italian small and medium-sized businesses. Cassa Depositi e Prestiti (Cdp), European Investment Fund e Mediocredito Centrale have signed a agreement aimed at activating 5,7 billion euros in financing banking loans on favorable terms, supporting the growth and competitiveness of over 26 companies. The transaction, signed in Rome by Gelsomina Vigliotti, Vice President of the European Investment Bank, Dario Scannapieco, CEO of CDP, and Ferruccio Ferranti, CEO of McC, expands the collaboration that began in October 2023 and became operational the following year.
The previous initiative is already helping to mobilize more than €5 billion for approximately 68 businesses. Considering both initiatives, the total volume of new financing exceeds €11 billion, with a potential audience of over 90 Italian companies.
A leverage effect of 76 times
The mechanism is based on the guarantees of the European InvestEu programThe European Investment Fund will provide CDP with €75 million in resources. Thanks to this support, Cassa Depositi e Prestiti will be able to provide €3 billion in counter-guarantees to the SME Guarantee Fund, managed by Mediocredito Centrale on behalf of the Ministry of Enterprise and Made in Italy.
The intervention should generate a leverage effect estimated at 76 times, allowing the banking system to provide a total of €5,7 billion in new financing. The goal is to facilitate business investment, improve access to credit, and strengthen the operational capacity of the Guarantee Fund. The new agreement also amends some aspects of the previous agreement, including increasing the maximum amount of financing eligible for coverage.
"The significant expansion of our direct operations supporting small and medium-sized enterprises is a key element of CDP's 2025-2027 Strategic Plan, as it aims to strengthen the competitiveness of the entire national productive fabric," said Scannapieco. CDP's CEO also emphasized the role of collaboration between national and European institutions in mobilizing resources. "With €5,5 billion in InvestEU guarantees, both direct and indirect, supporting €14 billion in operations, we are now one of the largest catalysts for InvestEU resources in Europe," he added.
A direct guarantee for innovation and green transition
Alongside the intervention on the SME Fund, the EIF has granted CDP a direct guarantee of 150 million eurosThis is the first operation of its kind in Italy and will support Cassa Depositi e Prestiti's new direct activities with companies with a turnover of 25 million euros or more.
CDP will establish three portfolios of new financing dedicated to investments in innovation and digitalization, environmental transition, and sustainability projects. The European coverage will reduce the credit risk incurred by Cassa and offer companies more favorable financial conditions, expanding the availability of liquidity for industrial development and transformation programs. "Thanks to the InvestEu guarantee and the solid partnership with CDP and Mediocredito Centrale, we can mobilize new resources for thousands of companies, helping to promote investments in innovation, sustainability, and growth," explained Vigliotti.
According to the EIB Vice President, the operation represents "a concrete example of how European instruments can strengthen the real economy and support businesses on their development paths."
Ferranti instead highlighted the ongoing collaboration between MCC, EIF, and CDO, which has translated into concrete results over the years through the strengthening of the Guarantee Fund. "Today we are adding another piece to a broader journey that confirms Italy's ability to attract European funding, helping to create the conditions for more sustainable and competitive growth," stated the CEO of MCC.
European support also for student loans
The agreement also includes a new line of counter-guarantee for financing university and post-university students. The Feei will provide European resources available for 7,5 million euros, with the aim of facilitating access to the loans needed to cover the costs of academic courses.
This measure will also be supported by InvestEU, the European Commission's programme created to mobilize public and private investment in some of the Union's key priorities, from the ecological transition to the growth of small and medium-sized enterprises.
The package of measures thus strengthens the ability of Italian and European institutions to use public guarantees as an investment multiplier, directing new finance towards businesses, innovation, sustainability, and training.
