Finlombarda – Finanziaria per lo Sviluppo della Lombardia S.p.A. is a financial company fully owned by the Lombardy Region with headquarters in Milan (Italy) and a share capital of about 170M€.
Established in 1971 as a joint stock company by a pool of banks operating in the region, Finlombarda began shifting into a government-related entity when the Region of Lombardy acquired 30% of its shares in 1975. The turning point for Finlombarda, however, coincided with the Region’s acquisition of the control share (51%) in 1999. In 2004, the Region acquired 100% ownership in Finlombarda and committed to providing the company with adequate capital to pursue its mission. The company has an A3 Issuer rating by Moody's.
The company’s mission is to help promote the development of the regional economy and provide consultancy services, primarily to the regional government, through the promotion of innovative financial solution to attract private capital in the financing of publicly-sponsored development projects through PPP – private public partnership.
More specifically, the mission of Finlombarda is focused on: 1) management of dedicated regional and EU funds; 2) promotion of PPP; 3) consultancy services addressed to the regional administration such as financial advisory and management, legal assistance, programs planning and implementation and projects development and relationships with the financial community.
In order to achieve these objectives, Finlombarda operates in the following four main areas:
1. Consultancy and Research to offer consultancy, analysis and assessment services and feasibilitystudy to support regional policy in the setting up and implementation of new financial tools for enterprises, infrastructures, public utilities and social and healthcare welfare;
2. EU Programmes to provide new financial solutions for the management of the EU Structural Funds Operational Programmes 2007-2013 (such as “JEREMIE” Fund) and participation to EU tenders;
3. Regional funds management such as traditional financial tools (i.e. subsidized loans and grantsprogrammes) and innovative schemes (i.e. seed and mezzanine funds);
4. Financial intermediation and private equity / venture capital investments in the Lombardy’s region and Mediterranean basin through both its investment management company, Finlombarda Gestioni SGR, and an investments platform co-financed by Finlombarda’s own funds and the banking system.