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UniCredit pledges 600 mln euros in loans for Italian farmers
February 7, 2014 / 5:32 PM / 4 years ago

UniCredit pledges 600 mln euros in loans for Italian farmers

MILAN, Feb 7 (Reuters) - Italy’s UniCredit said on Friday it would lend up to 600 million euros ($817 million) to agricultural companies in the country to boost investments in a sector that generates 35 billion euros of exports each year.

The loans will have a six-year duration, the lender said in a statement. The Gestione Fondi per l‘Agroalimentare, a public authority that supports funding for farmers, will cover potential losses for up to 5 percent of the total lent, it added.

$1 = 0.7343 euros Reporting by Francesca Landini; Editing by Elaine Hardcastle

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