Support for Italian cooperative companies in paying energy bills

Intesa Sanpaolo and Coopfond, Legacoop's mutual fund, are supporting more than 10,000 Italian cooperative companies struggling with the challenge of paying energy, gas and fuel costs, providing them with two tools that allow them:

• to apply for a loan from Intesa Sanpaolo to meet immediate payment needs and dilute the increases in energy and raw material costs over time, choosing between a short term loan and a medium to long term one
• to obtain a contribution from Coopfond, from a ceiling of €1.5 million reserved for Legacoop members.

The combined effect of the two initiatives makes it possible to immediately support the liquidity needs of cooperative companies for the payment of energy bills, guaranteeing continuity of operations at this difficult time without placing a financial burden on ordinary activities.

The two solutions are in line with the Energy Decree of 18 February 2022, under which all SMEs, including ordinary cooperatives and social cooperative companies, have until 30 June to apply for admission to the MCC Guarantee free of charge on loans granted to support proven liquidity needs due to rising energy costs.