Another €2 billion for SMEs to cope with rising energy costs

The image accompanying the News on the availability of an additional € 2 billion to support SMEs to face the costs related to energy increases, portrays a man in a suit and tie, with gray hair and beard and glasses, with one hand under his chin: he is reading a document that a woman explains to him

Intesa Sanpaolo is making a further €2 billion available to support SMEs facing costs related to energy price hikes and to encourage investment in renewable energy: an extraordinary measure to support businesses affected by the energy, economic and geopolitical crisis.

To support liquidity needs for payments and ensure that companies stay in business, Intesa Sanpaolo has designed specific lines of credit at special terms and with the support of guarantees from the Central Fund and SACE, as provided for in the DL Aiuti ("Aid Decree Law").

The financing is intended to cover incremental costs and allows for the payment of energy bills with deferrals over up to 36 months and a one-year grace period.

Upon request, payments may also be suspended on outstanding loans (principal amount) for a period of up to 24 months, subject to case-by-case assessment.

Intesa Sanpaolo and SACE have already made available €10 billion to foster investment by businesses in renewable energy  to reduce dependence on fossil fuels and start a process of "energy self-production", while also taking advantage of the opportunities provided by government measures.