Intesa Sanpaolo, EIB and ESA Launch €300 Million Support for Italian Aerospace SMEs
A two-year agreement signed by Intesa Sanpaolo, European Investment Bank (EIB), and European Space Agency (ESA) will mobilize €300 million to support small and medium-sized enterprises (SMEs) in Italy's aerospace sector. This initiative is crucial for enhancing competitiveness and strategic autonomy in Europe's space industry, projected to generate significant economic value by 2025.
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Intesa Sanpaolo, EIB, and ESA have established a two-year agreement to provide €300 million in financing for SMEs in Italy's aerospace supply chain. This industry is expected to yield around €7 billion in value added and €8 billion in exports by 2025, constituting 1.2% of total manufacturing.
The EIB will provide €150 million, with a risk-sharing mechanism that guarantees 50% of each loan issued. This facilitates access to financing for innovative small firms, addressing a significant barrier to growth. The collaboration aims to boost international competitiveness and foster innovation across the sector, responding to the growing demand in the global space economy, which is projected to exceed $1 trillion by 2032.
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