The European Investment Fund (EIF), part of the EIB Group, is providing two guarantees totalling €50 million to illimity Bank to improve access to finance small and medium-sized businesses (SMEs) in Italy. These SMEs primarily focus on sustainability, innovation and digitalisation.

Thanks to the InvestEU Innovation and Digitalisation guarantee of €25 million, illimity Bank will be able to further support innovation and digitalisation-driven enterprises. This support will enhance access to finance for research and innovation-intensive SMEs and small mid-caps, as well as supporting the uptake of digital technologies and the digital transformation of enterprises. On the other hand, the InvestEU Sustainability guarantee of €25 million will enable illimity Bank to boost the green and sustainable transition of the economy, encouraging environmentally friendly, green, and inclusive investments of the target final recipients. 

The transaction announced on June 15 will empower small and medium businesses to secure vital financing, enabling them to expand their operations, invest in innovation, and create new job opportunities. With a long-standing commitment to supporting small and medium businesses, illimity Bank continues its collaboration with EIF, which started in December 2021, to leverage these funds effectively and drive economic growth in Italy.