ANNOUNCEMENT 12 Apr 2016

In April 2016, the European Investment Bank (EIB) approved a EUR 500 million for the Italian Risk-Sharing Initiative to support research, development and innovation (RDI) projects carried out by Italian companies with a special focus on SMEs. 

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

The European Investment Bank, Project summary, ITALIAN RISK SHARING INITIATIVE FOR RDI: http://www.eib.org/en/projects/pipelines/pipeline/20130609
European Investment Bank, WHAT IS THE ITALIAN RISK SHARING INITIATIVE FOR RDI?: http://www.eib.org/attachments/italian_risk_sharing_initiative_rdi_en.pdf
Government of Italy, Ministry of Economic Development, Fondo di garanzia, operativa sezione grandi progetti di ricerca e innovazione industriale, issued on 19 April 2016: https://www.mise.gov.it/index.php/it/per-i-media/notizie/2034416-fondo-di-garanzia-operativa-sezione-grandi-progetti-di-ricerca-e-innovazione-industriale

Inception date: 19 Apr 2016 | Removal date: open ended

State loan

The European Investment Bank (EIB) approved EUR 500 million (approx. USD 569.7 million) for the  Italian Risk-Sharing Initiative to support research, development and innovation projects. In this context, the programme finances certain industrial innovation projects carried out by Italian companies, mainly small and medium-sized companies (SMEs). The programme is a joint initiative between the EIB and the Italian Ministry of Economic Development and Ministry of Economy and Finance. 

The initiative supports projects with a focus on research, innovation and development of new or the upgrading of existing services, products or processes; high technological or innovative content focussed on industrialising goods, services or processes; or other EIB eligible innovation areas.

Under the programme, loans are provided by financial intermediaries or by the EIB and have a maturity of seven years. Loans cover up 50% of the project costs. According to the EIB: "The initiative is intended to provide greater support for economic growth and jobs in Italy".

The programme was operational from 19 April 2016 and has supported a number of Italian companies, see related state acts.

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