Agreement with Agrocepi to support companies in the Italian agri-food sector

Intesa Sanpaolo and the Federazione Nazionale Agroalimentare (National Agri-food Federation Agrocepi) have signed a memorandum of understanding to support companies in the Italian agri-food sector affected by increases in the price of energy and other raw materials, as well as by the fall in turnover linked to exports to countries such as Ukraine and Russia, through measures to support their liquidity needs and continuity of production.

The main measures made available to SMEs in the agri-food sector associated with Agrocepi include:

• 18-month financing with six months of pre-amortisation to cover the cost of past and future utility bills
• advice on hedging against commodity risks, in particular fluctuations in energy and gas prices.

In addition, the following measures are available to companies exporting to Russia and Ukraine exposed to the risk of non-collection of receivables already due and reduced turnover:

• financing, at special conditions, with a term of 18 months less one day and six months of pre-amortization, to cover the liquidity needs arising from the current crisis
• suspension of instalments (principal only) for outstanding loans for 24 months (36 months for grain companies).

The agreement with Agrocepi also extends to Intesa Sanpaolo's Filiere Programme (Supply Chain Programme), which facilitates access to credit for companies belonging to a production chain: in the agri-food sector, 160 supply chain leading companies are participating, with 6,000 potential suppliers, a total turnover of over €21 billion and over 22,000 employees of supply chain leaders.

Intesa Sanpaolo reaffirms its role as key partner to the Italian agri-food sector: the Agribusiness Department supports companies in the sector with dedicated professionals and services, assisting them on strategic aspects such as energy and the digital transition, inhousing, innovation, generational turnover and aggregation.