Irfis-FinSicilia, 350 million in the field for the enterprise system

Non-repayable grants for the enterprise system totalling EUR 45 million, an endowment of EUR 120 million earmarked for the Ripresa Sicilia Plus measure, EUR 15 million to accompany enterprises operating in Sicily in the process of issuing minibonds, and EUR 47 million for the energy requalification of enterprises. In short, measures amounting to almost 230 million euro are to be added to those already initiated and partly refinanced to date, bringing the sums available to around 350 million. These are the four axes of the measures in the pipeline of Irfis-FinSicilia, the finance company wholly controlled by the Sicilian Region and led by businesswoman Iolanda Riolo, who presented the business plan and an overview of the results achieved so far.

A new three-year business plan provides new support for enterprises thanks to the funds allocated by the Regional Department for Productive Activities headed by Edy Tamajo. As at 31 December 2023, Irfis managed public funds amounting to EUR 600 million: funds that enabled it to support 21,788 enterprises and 35,063 individuals and families. As far as the 2023 budget is concerned, 'operating costs have decreased (to EUR 9.1 million) compared to the previous period,' explains general manager Giulio Guagliano, 'while turnover (EUR 20.8 million) is growing. The gross operating result is 11 million'.

"The business plan presented by Irfis is strongly oriented towards the industrial policy strategies dictated by the Productive Activities Department, which, with the new 2021/27 programming phase, is the owner of the resources allocated to it by the Cohesion Funds: approximately 1.5 billion euros," says Carmelo Frittitta, director general of the Productive Activities Department. The strengthening of Irfis will enable us to be more efficient in terms of the timing of the implementation of the initiatives that will be proposed to strengthen the Sicilian production system, keeping the focus on Sicilian companies".

The first of the projects in the pipeline, thanks to the EUR 45 million envisaged in the manoeuvre approved a few days ago by the Sicilian Regional Assembly, concerns non-repayable subsidies to companies operating in Sicily for 'the abatement of interest on mortgages outstanding as at 1 January 2024, for investment programmes or working capital requirements'. The other project concerns the basket bond that has an endowment of 15 million: the measure, explain Irfis FinSicilia, 'aims to accompany companies operating in Sicily in the process of issuing minibonds, grouped in a portfolio and subscribed by a single vehicle company that in turn finances itself by issuing securities that are subscribed by qualified investors'. Another intervention in the pipeline is that concerning Ripresa Sicilia Plus, which has an endowment of EUR 120 million and provides for 'subsidised financing and non-repayable grants aimed at increasing the competitiveness of enterprises by supporting industrial research and experimental development processes, supporting strategic innovative investments, and energy requalification. Also earmarked for energy requalification is EUR 47 million: this measure in the pipeline provides for 'contributions and financing for the implementation of interventions aimed at both the production cycle and company real estate, encouraging the use of renewable energies for self-consumption and/or the production of the energy needed to power production cycles'.

'Helping Sicilian businesses means making them grow and implementing the political strategy of the government and parliament,' emphasises Iolanda Riolo. 'Ours is an instrument at the service of Sicily that has the task of implementing policy measures, with EU, national and regional resources. The measures so far are going well now more resources are arriving and the moment is favourable, we want to communicate to citizens and entrepreneurs how much can be achieved thanks to these opportunities'.