MILAN: 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.