The Addendum to the Sustainable Growth Fund Agreement has been signed, for subsidised loans dedicated to enterprises, to develop and improve processes and services of strategic importance for Southern Italy’s production system
As from today, 10 September, businesses of any size operating in industrial and agricultural sectors, the agribusiness, artisan sectors, and research, can apply for a loan.
A new mechanism to encourage research and development targeting innovative products and services and cutting-edge technologies, with the aim of creating value and wealth in Southern Italian regions. These are the key aspects of the Addendum to the Sustainable Growth Fund Agreement signed by the Ministry for Enterprises and Made in Italy (MIMIT), Cassa Depositi e Prestiti (CDP) and the Italian Banking Association (ABI) which governs the granting of subsidised loans for industrial research and experimental development projects of strategic importance for the production system.
The initiative will support plans for investment1 in research and development, in keeping with the thematic areas defined in the National Smart Specialisation Strategy and will therefore concern the development of specific technologies such as advanced materials and nanotechnologies; photonics and micro/nano electronics; advanced production systems; life science technologies; artificial intelligence; digital security and connectivity. The development of these ideas will translate into new products, processes or services or also considerably improve the latter, with projects that must take place in the Southern Italian regions of Basilicata, Calabria, Campania, Molise, Puglia, and Sardinia and Sicily.
Businesses of any size operating in industry, the agribusiness, artisan sectors and industry services, as well as research centres may apply for the subsidised loans. Projects may also be presented jointly.
Specifically, the initiative - launched under the Sustainable Growth Fund (SGF) - will disburse non-repayable loans, granted by MIMIT, for a total of approximately 145 million. These amounts will be in addition to the 328 million granted by CDP under the Revolving Fund supporting enterprises and research investment (FRI), of a duration up to 15 years, alongside bank loans granted under market conditions of over 130 million, for a grand total of more than 600 million earmarked for the initiative.
As from today, 10 September 2024, businesses can apply for the subsidised loans directly from the website of Mediocredito Centrale (MCC), which is managing the initiative on behalf of the Ministry, according to the terms and procedures set out in the managerial decree of 7 May 2024 (as amended by the decree of 4 July 2024).
1Eligible project expenses and costs must be between 3 million and 20 million euro, and the duration from between 12 months to 36 months; projects may also be presented jointly by several companies.