By Kim Richters

Italian lender UniCredit SpA (UCG.MI) said Tuesday that it entered an agreement with the European Investment Fund to provide 50 million euros ($56.1 million) in loans to social enterprises in Italy.

The so-called social-impact-financing loans will be given to qualified for-profit and non-profit social enterprises with a maximum annual revenue of EUR30 million, the company said. Each business can receive an "affordable and discounted loan" of up to EUR500,000.

The agreement follows previous projects such as a EUR50 million portfolio guarantee by UniCredit and EIF to help 2,500 small Italian businesses and support for mid-cap companies with a focus on female entrepreneurs and innovation.

Write to Kim Richters at kim.richters@wsj.com

(END) Dow Jones Newswires

July 09, 2019 06:40 ET (10:40 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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