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Sace has teamed up with two Italian financial institutions to issue a €400,000 ($444,000) line of credit to Sicilian firm Montalbano Recycling, an SME specialised in technology for the treatment and recycling of waste materials.
Iccrea BancaImpresa and Banco Don Rizzo will issue the loan, which will be guaranteed by Sace. The proceeds will be used to renew machinery and help the company expand in Europe, the US, Mexico and the Gulf countries. The deal is the first to close under the “2i per I’Impresa’ programme of CDP, SACE and FEI, which aims to support Italian SMEs.