UniCredit, EIF Pledge EUR50 Million to Social Enterprises in Italy
July 09 2019 - 6:55AM
Dow Jones News
By Kim Richters
Italian lender UniCredit SpA (UCG.MI) said Tuesday that it
entered an agreement with the European Investment Fund to provide
50 million euros ($56.1 million) in loans to social enterprises in
Italy.
The so-called social-impact-financing loans will be given to
qualified for-profit and non-profit social enterprises with a
maximum annual revenue of EUR30 million, the company said. Each
business can receive an "affordable and discounted loan" of up to
EUR500,000.
The agreement follows previous projects such as a EUR50 million
portfolio guarantee by UniCredit and EIF to help 2,500 small
Italian businesses and support for mid-cap companies with a focus
on female entrepreneurs and innovation.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
July 09, 2019 06:40 ET (10:40 GMT)
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