Italian banks including UniCredit SpA (UCG.MI) and Intesa Sanpaolo SpA (ISP.MI) will take part in a EUR1.6 billion scheme to boost loans to companies operating in tourism, Premier Silvio Berlusconi said Wednesday.

The plan, which also includes Banco Popolare (BP.MI), Banca Popolare di Milano (PMI.MI) and Banca Popolare di Sondrio (BPSO.MI), aims to make it easier for companies operating in tourism to secure credit, Berlusconi said.

In a statement, UniCredit said it would take part in the scheme by putting forward EUR500 million for small- and medium-sized companies operating in tourism that want to develop their business.

The prime minister said the government wants to nearly double the contribution that tourism makes to Italian national output - currently around 10% of gross domestic product - in the next four years. He noted that tourism accounts for 18% of Spain's GDP.

Berlusconi told a press conference with his new tourism minister, Michela Brambilla, that he was proud of Italy's banking system and reiterated that the country's banks are the most solid in Europe.

The EUR1.6 billion in easier credit is available immediately so that companies can take advantage of the summer season that has just started, Brambilla said.

-By Luca Di Leo, Dow Jones Newswires; +39 06 697 66921; luca.dileo@dowjones.com
Banca Popolare di Sondrio (BIT:BPSO)
Historical Stock Chart
From Dec 2024 to Jan 2025 Click Here for more Banca Popolare di Sondrio Charts.
Banca Popolare di Sondrio (BIT:BPSO)
Historical Stock Chart
From Jan 2024 to Jan 2025 Click Here for more Banca Popolare di Sondrio Charts.