Rome, 18 July 2023 – With an opening speech by the Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation, Antonio Tajani, the new operation of Fund 394, the instrument managed by SIMEST in agreement with the Ministry of Foreign Affairs to finance investment for the foreign growth of Italian enterprises, was presented today at the Foreign Ministry. The Fund will have an endowment of EUR 4 billion, mainly dedicated to SMEs.
The event was attended by the top management of SIMEST, a CDP Group company: Chairman Pasquale Salzano and CEO and General Director Regina Corradini D’Arienzo.
Deputy Prime Minister Antonio Tajani said: “The resumption of Fund 394 is the result of the Government’s strong will to support and strengthen the international development of Italian companies. Through growth diplomacy, we are committed to promoting the competitiveness of our enterprises. We provide them with a valuable subsidised finance instrument that supports their investment and strengthens the positioning of Italian products in world markets. For the first time, we are also expanding the range of companies served by including production chains. An important innovation along the lines of extending our commitment to all components of the national economic system’”
The main new features of Fund 394 include support to investment for the ecological and digital transition and for strengthening the capital strength and financial soundness of companies with an international vocation. There will be benefits for companies belonging to export-oriented production chains and for companies affected by rising energy costs. There will also be dedicated conditions for companies with direct interests in strategic areas for Made in Italy, such as the Western Balkans, and for those located in the areas affected by the recent flooding in Emilia-Romagna.
Through Fund 394 managed by SIMEST, financing at subsidised rates of up to 0.464% (July 2023 rate) is made available to enterprises, to which a non-repayable co-financing of up to 10% may be added.
Companies may apply for financing from 27 July at 9 a.m. on the SIMEST Portal of subsidised financing.
The new operation of the Fund will be through six different lines of subsidised financing.
Digital or Ecological Transition: financing dedicated to companies wishing to make investment in digital innovation or ecological transition, as well as general production investment to strengthen their capital strength and financial soundness, to the benefit of their competitiveness in international markets.
Market Introduction and Access: financing for companies wishing to implement programmes for finding their place in international markets, through the opening of their own structure in a foreign country, or for those wishing to strengthen their presence in markets in which they already operate, by strengthening their structure or staff on site.
Certifications and Consultancy Services: funding reserved for companies wishing to implement internationalisation, technological, digital or ecological innovation projects, through the exclusive support of consultancy firms, or obtain product certifications, patents for the protection of intellectual property rights, as well as sustainability and technological innovation certifications.
Fairs and Events: funding for enterprises wishing to participate – also in Italy – in international fairs, exhibitions, events and business or system missions, including virtual ones, for the promotion of goods and services produced in Italy or under the Italian brand name.
E-commerce: financing for companies wishing to develop their e-commerce in foreign countries for goods and services produced in Italy or under the Italian brand name, through the creation or improvement of their own platform, or of their own dedicated space on a third-party platform.
Temporary Manager: funding reserved for companies wishing to make temporary use of specialised professionals for implementing internationalisation, technological innovation, digital or ecological projects.
During the event, SIMEST Chairman Pasquale Salzano and ICE President Matteo Zoppas signed a SIMEST-ICE collaboration agreement aimed at promoting production companies’ awareness and better use of SIMEST and ICE internationalisation services.
