EIB and Banca Etica provide €165 million to promote social development in southern Italy
- The €60 million EIB loan aims to unlock investments of at least €165 million in the real economy.
- The funds will support three priorities: women-led small businesses, projects in cohesion regions, and better services and economic empowerment for refugees.
- The EIB will also provide technical assistance and financial backing from the InvestEU Advisory Hub.
European Investment Bank (EIB) Vice-President Gelsomina Vigliotti and Banca Etica President Anna Fasano have signed a €60 million agreement with the main goals of promoting labour market integration and better services for refugees, making it easier for women-led companies to access finance and supporting projects in cohesion regions. The operation is expected to help stimulate €165 million of investment in the real economy, creating a lasting positive impact on society.
“This agreement is a key step forward in backing three important pillars of the future of Italy and Europe: gender equality, better living conditions and social inclusion for refugees, and economic development in southern Italy,” said Gelsomina Vigliotti. “Via our financial support and advisory services, the EIB is committed to supporting the real economy, fostering inclusive growth and a more equal and sustainable society.”
“Banca Etica's goal is to finance the social economy by supporting the businesses and people most at risk of financial exclusion, including refugees and women. It is important for us to be the first Italian bank to sign an agreement with the EIB to do even more in this domain. It is also a recognition of the specific expertise we have developed over 25 years of working to provide financial services to high social impact initiatives that struggle to secure credit in the mainstream financial system,” added Anna Fasano.