European Investment Bank (EIB) and Intesa Sanpaolo (ISP) signed an agreement to unlock more than €18bn in new funding for small and medium-sized Italian businesses to meet the challenge of recovery post-COVID-19.
That is the first transaction in Italy to support factoring operations thanks to the Pan-European Guarantee Fund (EGF), one of the European Union's instruments in response to the pandemic. Based on the amount of liquidity that will be supplied to businesses, this is the largest operation supported by the EGF in the European Union as a whole.
