Partnership agreement between the Ministry of Agricultural, Food and Forestry Policies, and the Banking Group
INTESA SANPAOLO ALLOCATES A CEILING OF SIX BILLION EURO OVER THREE YEARS AND, WORKING WITH THE MINISTRY, IDENTIFIES A NEW PACKAGE OF FINANCIAL INSTRUMENTS FOR FOOD AND AGRICULTURAL BUSINESSES
The set of initiatives finalised by Intesa Sanpaolo and the Ministry of Agricultural, Food and Forestry Policies (MIPAAF) to boost growth, innovation, internationalisation, training and generational change could generate:
• 70,000 new jobs
• 10 billion Euro in new investments
Rome, 13 January 2016 - A three year partnership agreement was signed today between the Ministry of Agricultural, Food and Forestry Policies and the Intesa Sanpaolo Group to support agriculture and the food and agricultural products sector. The aim is to open up new growth and working opportunities and in a sector which is not only strategic for the Italian economy, but which – following the success of Expo Milano 2015– is also now in the position to aspire to further development.
In order to facilitate access to credit by businesses in the farming and agricultural product sectors, Intesa Sanpaolo has allocated a ceiling of 6 billion Euro over three years which will be primarily designated to implementing:
a. Investments to enhance and develop the Italian production chains with the additional aim of facilitating the process of internationalisation;
b. Investments to facilitate generational change, computer use and e-commerce in the sector;
c. Investments in research and experimentation, technological innovation and product enhancement.
The initiatives finalised by Intesa Sanpaolo and the MIPAAF could potentially generate 70,000 new jobs and 10 billion Euro in new investments.
The livestock and dairy production sectors will be one of the first focus areas.
A further goal of the agreement is to facilitate access to the EU funds set out in the 2014-2020 RDPs (Rural Development Programmes). To this end, the Intesa Sanpaolo Group will promote a number of financial and consultancy measures, in partnership with local key stakeholders, in order to enable farms and food and agricultural businesses to exploit the opportunity of gaining easier access to structural funds, including through the use of specific financial products promoted by the Bank.
While signing the agreement, Maurizio Martina, the Minister of Agricultural, Food and Forestry Policies, and Carlo Messina, Intesa Sanpaolo Managing Director and CEO, highlighted the need to bring about a convergence of commercial and banking policies in the context of shared, structured projects. In addition to the measures already launched by the Government, such as the 800 million Euro set out in the Stability Law, and the EU and regional policy measures, this agreement is designed to make the farming profession more attractive for new generations and to promote business training programmes for sector operators.
The agreement, which the Bank will implement throughout the country using its extensive distribution network, has immediate effect. Full use of the resources made available by the Intesa Sanpaolo Group will be implemented with the concrete involvement of all the sector associations, local entities and players in the food and agricultural products market. The first step will be to undertake a fact finding research project in partnership with ISMEA, the public entity which supplies financial, insurance and IT services to farming businesses. The aim is to better understand the positioning of businesses in terms of access to credit. In addition, the bank and the public entity will work towards harmonisation of their valuation criteria, including their approach to qualitative issues, and on researching more innovative and flexible types of financing and guarantees.
The production and distribution of food and agricultural products represents a significant share of the Italian economy. It is a sector with further growth opportunities. As witnessed by the experience of Expo Milano 2015, the made in Italy tag is unique on the international stage. However, given quantifiable demand amounting to approximately 90 billion Euro, Italian food and agricultural product exports have further room for growth. It is therefore of fundamental importance to focus further on the added value, quality, healthiness and sustainability of Italian products, and to continue to promote them around the world.
The loans and consultancy services which Intesa Sanpaolo undertakes to offer will aid businesses in upholding the high quality level of Italian food and agricultural products, will champion the leading brands, and will facilitate the search for new commercial opportunities, in particular on foreign markets where the Group is able to add value to its customers in more than 40 countries.
This initiative will benefit from the Progetto Filiere, which was launched over recent months by Intesa Sanpaolo, and which allows companies in the farming and food and agricultural products sectors to work in a way which facilitates and improves their access to credit. For companies investing in innovation, Intesa Sanpaolo also covers, in advance, up to 100% of the invested capital.
A significant degree of the know-how and expertise associated with Italian food and agricultural production is embodied by intergenerational knowledge. Intesa Sanpaolo provides consultancy in generational change to businesses and, most importantly, it helps young people to carry out their own projects by offering them long-term training in everything from writing business plans to finding investors and building their brands.
Created in Italia (www.createdinitalia.com), the Intesa Sanpaolo Group’s e-commerce channel, is also available to companies wishing to sell their products and services online and increase their network of contacts. This initiative came into its own at Expo Milano 2015, where Intesa Sanpaolo hosted and gave good exposure to 530 businesses and 35 innovative start-ups in its own pavilion. In turn, this led to business meetings with over 3,000 Italian and international companies.
For further information:
Tel. +39 02 87962052
Last updated 13 January 2016 at 16:46