ANNOUNCEMENT 16 Sep 2021
In September 2021, the Italian government allowed the SME Guarantee Fund to issue new guarantees worth EUR 5 billion (USD 5.8 billion) to approximately 30,000 Italian SMEs.
NUMBER OF INTERVENTIONS
CDP's press release, 16 September 2021
On 16 September 2021, the Italian state-owned Mediocredito Centrale launched a new line of loan guarantees for SMEs worth EUR 5 billion (USD 5.8 billion). The scheme aims at helping SMEs recover from liquidity shortages as a result of the Covid-19 outbreak.
Under the scheme, the SME Guarantee Fund, controlled by Mediocredito Centrale, will be responsible for administering the guarantees. Mediocredito Centrale is an agency controlled by Invitalia SpA, a state-owned organization. Mediocredito Centrale was originally created to grant Italian SMEs access to credit through the issuance of public guarantees on private loans.
This new lending is backed by the Pan-European Guarantee Fund, a EUR 25 billion fund created in April 2020 to help SMEs and mid-caps weather the Covid-19 pandemic (see related state act).
On 16 May 2022, the Italian state-owned MedioCredito Centrale (MCC) approved an additional EUR 10 (USD 10.4) billion budget increase for the SME Guarantee Fund (see related state act)