With Sistema Moda Italia to revitalise the textile and fashion industries
Intesa Sanpaolo and Sistema Moda Italia (SMI) have signed an agreement to support the member companies and the entire textile and fashion sector supply chain.
One of the points of the agreement provides for access to the €6 billion circular economy funding made available by the Bank for transformative projects inspired by the principles of the circular economy: in fact, Sistema Moda Italia will promote the creation of a national network of recycling hubs for the management and recycling of process waste and waste from the separate collection of textile materials and accessories, while Intesa Sanpaolo will support the companies involved in this project with optimal financial solutions.
In addition, thanks to the agreement between Intesa Sanpaolo and Sistema Moda Italia, companies will have the opportunity to:
- access new solutions for restoring liquidity and enhancing the value of investment projects, including refinancing existing medium and long-term credit lines, extending the duration of the repayment plan up to 15 years
- encourage the technological refurbishing of members thanks to financial solutions and advice on new projects or expansions of production facilities that also provide the possibility of using the guarantee of the Guarantee Fund or SACE and promote collaboration with specialized research centres, including the National Research Council
- promote entrepreneurial projects linked to environmental, social and governance (ESG) improvement goals through S-Loan or D-Loan funding.
The agreement with Sistema Moda Italia is part of the partnership project with Confindustria, which makes €150 billion available to companies over three years to promote the development of the economy in line with the NRRP and Italy's growth prospects.
Sistema Moda Italia is one of the world's leading organisations representing the textile and fashion industry, which in Italy numbers over 400,000 employees and about 50,000 companies, in addition to being among the most representative of the Italian products worldwide.
Last updated 21 January 2022 at 11:12:26