Italy: EIB lends EUR 140 million to Fincantieri for R&D
The European Investment Bank (EIB) and Fincantieri signed the first EUR 80 million tranche of a EUR 140 loan for financing the Italian shipbuilder’s research and development programmes.
The EIB was represented by Vice-President Dario Scannapieco, who is responsible for operations in Italy, Malta and the Western Balkans, and Fincantieri by its CEO, Giuseppe Bono.
This is the first financing operation ever undertaken by the EIB in Europe to promote R&D by a company in this sector. The project focuses mainly on three areas:
- technological solutions to improve the energy efficiency and reduce the fuel consumption of ships;
- the optimisation of ship design, during both the construction and operational stages, so as to increase the safety of vessels and reduce their environmental impact;
- innovative studies (also relating to design) that can reduce the size and increase the accommodation capacity of ships.
Greater energy efficiency and an improved environmental impact are areas that are fully consistent with the traditional financing activities of the European Union’s bank and will also have the effect of increasing the employment generated by shipbuilding, whose manufacturing operations involve a large number of small and medium-sized enterprises throughout the country.