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#JunckerPlan – €300 million for Italian SMEs in creative and cultural sectors

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The European Investment Fund (EIF) and Italy’s national promotional institution Cassa Depositi e Prestiti (CDP) have signed an agreement under the Kulturella och kreativa sektorn garantifacilitet av EU:s Kreativa Europa med målet att generera 300 miljoner euro i ny finansiering till cirka 3,500 XNUMX små och medelstora företag inom den kulturella och kreativa sektorn i Italien. Avtalet stöds av EU:s budget under Juncker Plan’s European Fund for Strategic Investments (EFSI). Access to finance in the creative and cultural sectors can be difficult to obtain, primarily due to the intangible nature of their assets and collateral, the limited size of the market, demand uncertainty, and lack of financial intermediary expertise in addressing sector specificities. Mariya Gabriel, Commissioner for Digital Economy and Society, and Tibor Navracsics, Commissioner for Education, Culture, Youth and Sport, said: “Culture and the creative sectors build bridges between art, business and technology. They are a catalyst for innovation and foster risk-taking attitudes, which are key in building resilience. Helping these companies scale up and stimulate creativity is high on the European Commission’s agenda. This guarantee agreement helps to bridge the financing gap faced by these sectors and will have important economic and social benefits.” A press release can be found här..

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