Intesa Sanpaolo to Pump 200 Billion Euros into Italian Business
Rome: Intesa Sanpaolo CEO Carlo Messina and Emanuele Orsini, the president of the industrial federation Confindustria, on Tuesday signed an agreement for the bank to invest 200 billion euros into Italian business.
According to Ansa News Agency, the ‘Investment, Innovation, Credit’ joint programme will enable Italian businesses to invest in sustainable growth. Messina drew a parallel between the programme and the National Recovery and Resilience Plan (NRRP), which aims to enhance the Italian economy with projects funded by 194.4 billion euros in EU grants and low-interest loans as part of the bloc’s post-Covid Recovery Fund.
Messina stated, “We will make EUR 200 billion available to companies.” He emphasized that it is akin to an Intesa Sanpaolo NRRP for Italy.