New SIMEST Financing for the AFRICAN MARKETS – up to 20% non-repayable Co-financing

Simest has announced a new financing initiative under the 394/81 Fund dedicated to companies operating in AFRICA, effective from July 25th.

This instrument allows the financing of expenses aimed at strengthening the company’s equity, even in Italy, as well as expenses strictly related to the implementation of investments. These include expenses for the training of African personnel in Italy or in Africa, travel expenses, entry and regularization costs in Italy for employment, etc.

The Applicant Company, if operating in SOUTHERN ITALY, may request a non-repayable Co-financing of up to 20% of the Facilitated Intervention Amount, up to a maximum of €200,000. 

For all other companies (CENTRAL and NORTHERN ITALY), a non-repayable Co-financing of up to 10% of the Facilitated Intervention Amount may be requested, up to a maximum of €100,000.

The financing includes a 24-month grace period and a subsidized interest rate currently at a fixed annual rate of 0.511%.