Investment Plan for Europe: €50 million for Italian SMEs

The European Investment Fund (EIF) and Tenax Capital Limited (Tenax) have signed an InnovFin SME guarantee agreement in Italy to provide €50 million to innovative small and medium sized businesses in Italy. This transaction benefits from the support of the European Fund for Strategic Investments (EFSI), the heart of the Investment Plan for Europe. Carlos Moedas, European Commissioner for Research, Science and Innovation, said: “Thanks to this new InnovFin EFSI agreement, Italian innovative SMEs and small mid-caps will benefit from a new injection of finance. Tenax will be able to provide companies with financing solutions at a reduced overall interest rate. I am pleased to see that the Investment Plan of Europe is enjoying such success in Italy and I encourage other Member States to follow its lead.”