Italian lender agrees RSI deal with EIF

The European Investment Fund (EIF) has partnered with xxxx Alba Leasing in a Risk Sharing Instrument initiative that will see Alba finance SMEs in Italy.

The European Commission-backed initiative means Alba will be able to provide up to €120 million in financing to Italian mid-market companies, with 50 percent of that amount guaranteed by the EIF. This enables Alba to offer companies additional financing at favourable rates, the EIF said in a statement about the deal.

The deal is the first RSI agreement in Italy with a leasing company, and only the fourth in Italy in total. So far there have been 18 RSIs in Europe, including this deal, worth a combined €1.8 billion.

RSI facilities are used to encourage banks and other lenders to provide financing to SMEs with fewer than 500 employees that are in need of capital to support research, development and innovation.

Massimo Mazzega, chief executive of Alba, said in the statement: “The agreement signed with the EIF represents a concrete help and a strong action aimed at invigorating the relationship between Alba Leasing and its customers, especially SMEs, the driving force of our country.”