Dec 20, 2024 (MENAFN via COMTEX) --
(MENAFN - Trend News Agency) BAKU, Azerbaijan, December 20. The EuropeanInvestment Bank (EIB) has approved financing worth EUR250 million tosupport businesses in Lombardy, with at least 50 million eurosdedicated to projects combating climate change, Trend reports.
The agreement, made in collaboration with the Lombardy Regionand Finlombarda, includes an initial tranche of 150 million eurossigned recently.
Finlombarda, the financial institution of the Lombardy Region,will contribute additional resources, bringing the total availablefunding to 500 million euros. The funds are aimed at small andmedium-sized enterprises (SMEs) with up to 250 employees andmid-cap companies with up to 3,000 employees in the region.Beneficiaries will have access to competitive interest rates andlong-term financing, with 20% of the funding earmarked for greenprojects such as renewable energy production and energy efficiencyinitiatives.
EIB Vice-President Gelsomina Vigliotti emphasized the importanceof this collaboration, stating:"The partnership between the EIB,the Lombardy Region, and Finlombarda is crucial for fosteringinnovation, competitiveness, and resilience among Lombardy-basedbusinesses. This joint effort supports job creation and generatessignificant economic benefits while promoting a transition to alow-carbon economy."
Marco Alparone, Vice-President and Minister of Finance for theLombardy Region, remarked:"This agreement represents a key step insustaining and enhancing the competitiveness of Lombardybusinesses. It aligns with our strategic commitment to encouraginginnovative investments, particularly those advancing environmentaltransition, and supporting sustainable economic growth."
Finlombarda President Andrea Mascetti added:"This EIB fundingallows Finlombarda to address the diverse credit needs of theregion effectively, supporting the objectives of regional planningand fulfilling its institutional mission."
The agreement also includes a technical advisory initiativeunder the "Green Gateway" program to boost investments inenvironmental sustainability.
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