SIMEST (CDP Group) makes available 1.2 billion euros in NRRP to SMEs
SIMEST - the company for the internationalization of the Cassa Depositi e Prestiti Group – is one of the first in Italy to make Next GenerationEU resources available for SMEs, through the National Recovery and Resilience Plan (NRRP).
SIMEST today started receiving applications for access to 1.2 billion euros in subsidized loans (with a non-repayable share) reserved for making investments to support the digital and ecological transition of SMEs. The resources are channeled to Italian businesses through “Fund 394”, managed by SIMEST in agreement with the Ministry of Foreign Affairs and International Cooperation (MAECI).
Over 4 thousand applications for half of the available funds, 30% from the South
In the first day open for financing requests, over 4 thousand applications were submitted, for a total value of more than 600 million euros. Thirty percent of the applications were from SMEs in the South, which benefit from a non-repayable share of up to 40%. For these businesses was reserved 480 million euros of the Fund’s resources.
Focus on digital and ecological transition
Businesses will be able to access loans until December 3, 2021 - subject to early exhaustion of resources. The funds will help Italian SME exporters investing in digital and ecological transition making them more competitive in international trade.