How Sace will move on the extension of the Italian Warranty and beyond
Present and future of Sace's activities according to Alessandra Ricci, Sace Guarantee Italy and Green New Deal program manager
“Sace is working on extending the Italian Guarantee program until 31 December 2021 and on the extension envisaged by Dal Sostegni bis of the duration of the loans (subject to approval by the European Commission). Beyond the guarantees on liquidity, Sace will continue to support exports and green investments, strengthening the program of guarantees to support the investments of companies at a time of restarting the economy and the infrastructural and digital development of the country in synergy with what envisaged by the PNRR ".
This is what Alessandra Ricci, head of the Guarantee Italy and Green New Deal Sace program underlined, during the conference organized by Studio Chiomenti, Cerved and the M&M association, taking stock of the situation on the activities of the insurance and reinsurance company. chaired by Rodolfo Error and led by the managing director, Pierfrancesco Latini.
THE ROLE OF SACE ANTI PANDEMIC
Since the beginning of the pandemic, Sace has supported Italian companies with tools aimed at managing both the emergency phase (Italian guarantee and short-term credit insurance) and the relaunch of the economy (green guarantees and export support) and this thanks to the extension of our mandate which took place during 2020 ″, underlined Alessandra Ricci, head of the Guarantee Italy and Green New Deal Ssace program.
THE ITALY GUARANTEE FUNCTION
"Among the tools to support the management of the emergency – added Ricci – we must first remember the Italian Guarantee – the emergency instrument provided for by the Liquidity Decree in support of companies damaged by Covid-19 with which SACE grants public guarantees on loans intended to support the injection of new liquidity and aimed at covering personnel costs, investments or working capital and which has made it possible to guarantee loans to date equal to 24.5 billion euros, for a total of approximately 2,300 transactions. Of these, 99% was granted with a simplified and fully digitalized procedure that made it possible to issue the guarantees within 48 hours of the bank's request ”.
SUPPORT FOR PRIVATE INSURERS
Still in support of the emergency phase, Sace “intervened to support private short-term credit insurers with the aim of avoiding the closure of credit lines and continuing to support commercial exchanges between companies. The intervention allowed the reactivation of 3.5 billion euro of credit lines. The 5 major players on the market have signed up to this guarantee, which together insure approximately 14,000 companies, 80% of which are SMEs ”.
THE GREEN PILLARS OF SACE
In parallel with the management of emergency instruments, Sace "acted in support of the relaunch, on the one hand, through the new green guarantee instrument ( here the in-depth analysis of Start based on Sace's sustainability report ) and on the other with the traditional support for exports and internationalization ". “As part of the European Green New Deal plan, in fact, in the last months of last year – thanks to the Simplification Decree – Sace was entrusted with the task of issuing public guarantees to facilitate the transition towards a sustainable and circular economy. Thanks to this new instrument, aimed at supporting the realization of sustainable investments in Italy, Sace has contributed to the conclusion of loans and bond issues for over 1 billion in support of both large companies and SMEs. The investments of the Italian companies are evaluated by Sace which issues a green rating on the operation ".
THE SACE INSTRUCTORIES
To implement the measure, Sace “has adapted its criteria and methodologies by including the distinctive elements of green projects as part of its investigation activity”. Last but not least, considering the amounts and the impact that exports have on GDP, Sace “has continued to support the internationalization of our companies. Since the beginning of the pandemic, also thanks to Sace, the realization of foreign contracts and investments for our companies for over 30 billion euros has been ensured ”.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/come-si-muovera-sace-sullestensione-di-garanzia-italia-e-non-solo/ on Fri, 18 Jun 2021 18:43:37 +0000.