Cassa Depositi e Prestiti and Mediocredito Centrale will be the institutional investors in the operation guaranteed by the Region.
Making access to credit easier for Sicilian SMEs through a bond issuance programme. This is the main goal of the memorandum of understanding signed in Palermo at the offices of the regional councillor for Production Activities by the Region of Sicily, Cassa Depositi e Prestiti, Mediocredito Centrale and Irfis - Fin Sicilia, the regional institute providing financing to industries in Sicily.
The purpose of adopting the Basket Bond programme, which is the first of its kind in Sicily, is to support the investments of SMEs in the region; the programme has financial resources totalling 19 million euro, which come from the European Regional Development Fund (Fesr 21/27). Under the programme, the Region will grant 15 million euro of guarantees, plus another 4 million will come from public grants to reduce businesses’ emission costs. The use of these resources will be a significant boost that can result in a total amount of minibonds equal to 60 million euro, generating a positive impact on the local area.
The “Sicily Basket Bond” programme is promoted by the Region of Sicily, in association with the regional financial institution Irfis, and Cassa Depositi e Prestiti and Mediocredito Centrale as institutional investors. The bonds guaranteed by the Region may be used by businesses to support investment programmes or for working capital requirements.
The Regional Councillor for Production Activities, Edy Tamajo, the Chair of Irfis Fin Sicilia, Iolanda Riolo, the Head of Businesses and Financial Institutions of Cassa Depositi e Prestiti, Andrea Nuzzi, and the Chief Executive Officer of Mediocredito Centrale, Francesco Minotti were present at the signing.