UCG Unicredit Spa

By Maitane Sardon

UniCredit SpA (UCG.MI) and the European Investment Bank have signed agreements to provide Italian small and medium-size businesses credit lines worth 500 million euros ($569 million) for projects aimed at promoting female entrepreneurship and climate action, the lenders said Thursday.

UniCredit and the EIB said the agreements signed consist of a EUR250 million credit line made available by the EIB and a commitment for a matching sum from UniCredit in support of beneficiary companies.

Of the overall amount, EUR400 million will be for female entrepreneurship and innovation, with up to 25% of that sum to be used for financing Italian small and midsize businesses that are managed or controlled by women. The female entrepreneurship loan is "the biggest transaction signed in Europe" by the European Investment Bank in terms of the amount of financing, UniCredit and the EIB said.

"According to preliminary estimates, this loan will help to support around 25,000 jobs and some 500 businesses controlled or managed by women," they said.

The second line of credit consists of EUR100 million for projects implemented by SMEs and local authorities that have an environmental purpose aimed at combating climate change.

Write to Maitane Sardon at maitane.sardon@dowjones.com

(END) Dow Jones Newswires

February 28, 2019 08:29 ET (13:29 GMT)

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