In recent years the financial capacity of SIMEST, a company that supports and plays an increasingly central role in supporting the internationalisation of Italian businesses, has grown considerably. This is thanks to the guidance provided by the Farnesina and the Export Agreement created with strong support from Minister Di Maio and Undersecretary Di Stefano. The agreement also benefits from the active involvement of the Directorate General for Country Promotion of the Ministry of Foreign Affairs and International Cooperation and representatives of Italy’s production system.
According to the accounts published today, in 2021 SIMEST reached a historic record in terms of resources activated and managed. These amounted to over 9.3 billion euro (up 115% with respect to 2020).
SIMEST provides subsidised loans and grants from the “394/81 Fund”, managed with support from the Ministry of Foreign Affairs and International Cooperation. In 2021 the company supported about 11,300 exporting companies (96% of them small and medium-sized enterprises) and mobilised 4.3 billion euro (up 277% on 2020).
Significant support was also provided to the Italian trade fair system, which was badly hit by the pandemic crisis. SIMEST also managed projects for export businesses under the National Recovery and Resilience Plan. The projects aim to foster companies’ digital and environmental transition and leads the way at the national level in terms of resources already delivered to beneficiaries.
Lastly, the SIMEST Venture Capital Fund is also worthy of mention. This financial instrument is managed under an agreement with the Farnesina and recently received refinancing of 200 million euro. It has undergone a reform which, starting in 2022, will also make it possible to support operations by start-up businesses and other investment funds.