Revolving pledge and €100 mln for Parmigiano Reggiano Consortium companies
Intesa Sanpaolo has signed an agreement with the Parmigiano Reggiano Consortium to facilitate access to credit for its member companies through revolving pledge on Parmigiano Reggiano cheese wheels, and has allocated a €100 million to support the first financing transactions.
The revolving pledge is a guarantee that makes it possible to free up the economic value of cheeses during ageing to meet the liquidity needs of companies.
Intesa Sanpaolo is also making its Agribusiness Department – a support and advisory structure specifically dedicated to the sector – available to the Consortium and its member companies.
Thanks to the revolving pledge, Intesa Sanpaolo has disbursed over €42 million to companies in the agrifood sector to support their development plans and green and digital transition.
The Parmigiano Reggiano Consortium brings together 305 cheese-makers that produced more than 4 million cheese wheels in 2022.
Last updated 17 March 2023 at 18:48:07