Juncker Plan: new resources are coming for European SMEs

CDP and KFW together invest €145 million for Alba Leasing, which will provide new credit to small and medium-sized Italian companies 

Rome November 13, 2017

Increasing the availability of funding for SMEs and promoting access to credit are the objectives of the initiative promoted by Cassa depositi e prestiti (CDP), KfW (Kreditanstalt für Wiederaufbau) and the European Investment Fund (EIF), which together have decided to strengthen their joint commitment to stimulate the growth of European companies.

Through the securitization of credit for small and medium-sized companies originated by Alba Leasing, CDP and KfW have invested around €145 million in securities that will benefit from a first-rate guarantee issued by the EIF. In addition, the European Investment Bank (EIB) will participate as an investor, thus mobilizing additional resources from the Juncker Plan.

Alba Leasing, a financial intermediary specialized in the leasing business, due support by CDP, KfW and FEI, has supported more than 1,300 small and medium-sized Italian companies. As a result of this new measure, beneficiary companies will increase to 2,500.

The operation falls within the operational scope of ENSI, the platform for co-operation and risk sharing between the European Investment Fund and various national promotion institutions (NPIs), which since 2015 works to improve access to small and medium-sized credit in Europe through securitization operations that release capital or provide liquidity to financial intermediaries.

In particular, the initiative is CDP’s fifth investment in the ENSI platform and the fourth alongside KfW.