(Alliance News) - Intesa Sanpaolo Spa has announced that it has signed an agreement with the Ministry of Agriculture, Food Sovereignty and Forestry, Cassa Depositi e Prestiti to promote credit policies and synergies aimed at the development of the agricultural and agrifood sector, including in relation to the measures of the National Recovery and Resilience Plan.

Intesa will thus make EUR20 billion available for the revitalization of Italian agriculture - as part of the larger EUR410 billion credit ceiling to support the PNRR initiatives - also using the funding provided by CDP.

The priority objective of the agreement, the statement says, is to "identify investment programs for: enhancement and development of Italian production chains; research, experimentation, technological innovation and product enhancement; energy saving, circular economy and animal welfare interventions; internationalization of agricultural enterprises and support for expansion in foreign markets; generational turnover in agriculture, business networks, digitalization and e-commerce; support for the younger generation starting new business activities in agriculture or development of existing ones; and access to facilitation initiatives for the sector, particularly from the PNRR and the National Plan for Complementary Investments."

Intesa Sanpaolo rises 0.4 percent to EUR3.62 per share.

By Chiara Bruschi, Alliance News reporter

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