REGGIO CALABRIA, Italy, Oct. 31, 2023 (GLOBE NEWSWIRE) -- "It is essential to enhance the potential of Southern Italy, which represents the seventh European region in the manufacturing sector and hosts a quarter of the country's supply chains. Confindustria and Intesa Sanpaolo share this need and provide concrete solutions for the new needs of Calabrian SMEs."

With this premise, Stefano Barrese, Head of the Banca dei Territori Division at Intesa Sanpaolo, commented on the regional implementation of the renewed agreement between Confindustria and Intesa Sanpaolo in Reggio Calabria, during a meeting that highlighted the economic prospects of the region and the growth drivers. The national protocol strengthens the collaboration between the association representing manufacturing and service companies and Italy's leading banking group, in a changing context that emphasises sustainability, energy transition, and the digitalisation of SMEs. The agreement allocates €1.5 billion to Calabrian businesses, within the €150 billion national ceiling.

"The renewed agreement with Confindustria," Barrese stated, "aims to ensure unified support and the necessary financial backing to implement growth, innovation, and energy transition plans with a focus on sustainability. Our overall commitment is to provide medium to long-term disbursements of over €410 billion over the course of the NRRP (National Recovery and Resilience Plan), of which €120 billion is allocated to SMEs."

The Calabria region needs to overcome, at least partially, its digital and innovation lag, where it ranks among the lowest in Italy. This was revealed in a recent survey conducted on Intesa Sanpaolo's territorial network, involving over 120 operators active in Calabria. Key issues include investments in renewable sources, streamlining production processes, optimising energy supply contracts, strengthening supply chain relationships, digitalisation, and human capital. Human capital is a central issue: every year, Calabria loses young graduates who seek employment in other Italian regions or abroad.

Emanuele Orsini, Vice President for Credit, Finance, and Taxation at Confindustria, confirmed that "the economic outlook is slowing significantly. Investments are crucial to address and complete the ongoing sustainable and digital transition. The partnership between Intesa Sanpaolo and Confindustria is essential." Intesa Sanpaolo and Confindustria have been collaborating since 2009. They have signed a series of agreements aimed at a broad industrial policy vision, with the goal of making finance and credit strategic components in service of the entrepreneurial world.

For more information:
Press Office LaPresse - ufficio.stampa@lapresse.it

A video accompanying this press release is available at the following link:
https://www.globenewswire.com/NewsRoom/AttachmentNg/517b2da1-2fb1-4bc9-a228-95de4ef8d01c