Intesa Sanpaolo to Pump 200 Billion into Italian Business

Rome: Intesa Sanpaolo CEO Carlo Messina and Emanuele Orsini, the president of industrial federation Confindustria, on Tuesday signed an agreement for the bank to pump 200 billion euros into Italian business.

According to Ansa News Agency, the ‘Investment, Innovation, Credit’ joint programme will make the money available to Italian businesses to invest in sustainable growth. Messina compared the programme to the National Recovery and Resilience Plan (NRRP), which seeks to make the Italian economy greener and more modern with projects financed with the help of 194.4 billion euros in EU grants and low-interest loans under the bloc’s post-Covid Recovery Fund.

“We will make EUR 200 billion available to companies,” Messina said. “It’s almost an Intesa Sanpaolo NRRP for Italy, and this, in my opinion, will enable us to further accelerate growth.”