Intesa Sanpaolo
A branch of the Italian Intesa SanPaolo Bank (Photo by Jaap Arriens/NurPhoto via Getty Images)

Italian multinational utility company Enel has partnered with European bank Intesa Sanpaolo to support the growth and sustainable development of its supply chain companies.

Intesa Sanpaolo will leverage its Sviluppo Filiere Programme to provide access to credit for Enel’s suppliers under the utility’s Supplier Development Programme.

The two will launch pathways to sustainable growth for around 130 suppliers selected by Enel from among the best performing companies operating in areas of strategic interest to the Group.

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Enel’s companies will thus be able to benefit from the “value” of the chain leader through increased access to credit and faster disbursement of loans.

Enel and Intesa Sanpaolo will increase the number of small and medium-sized enterprises benefiting from the partnership in the near future.

The agreement also allows suppliers to take advantage of a wide range of loans, particularly those linked to investments in the Circular Economy and ESG integration, and advanced financial instruments for the supply chain to facilitate access to liquidity, growth and overcoming difficulties, and thus help them get back on track.

Alberto De Paoli, the chief financial officer of the Enel Group, said: “The challenge of the energy transition necessarily requires the growth and development of our suppliers. Without them, it would not be possible to achieve our decarbonisation, renewable energy development and network digitisation objectives.

“With our Supplier Development Programme, we want to accompany SMEs operating in sectors key to Enel on the path towards sustainable, technological and skills development, by providing dedicated services offered by selected partners. Joining Intesa Sanpaolo’s Sviluppo Filiere Programme will allow suppliers participating in the Supplier Development Program to take advantage of financial services and access to credit that can facilitate their implementation of circular economy principles and develop innovation and sustainability processes.”

Stefano Barrese, the head of the Banca dei Territori Division of Intesa Sanpaolo, said: “The important supply chain agreement reached with Enel, thanks to the invaluable contribution of our colleagues in the IMI Corporate & Investment Banking Division, further strengthens Intesa Sanpaolo’s Sviluppo Filiere Programme, which already includes 700 large companies in Italy and their 16,000 suppliers.”