Italy: EIB and CDP provide EUR 600 million for Emilia-Romagna earthquake recovery
The European Investment Bank (EIB) and Cassa Depositi e Prestiti (CDP) signed in Rome today a €600 million loan for rebuilding industrial infrastructure in areas hit by the earthquake in Emilia-Romagna one year ago. The EIB was represented by President Werner Hoyer and Vice-President Dario Scannapieco, and CDP by its Chairman Franco Bassanini and CEO Giovanni Gorno Tempini.
The ceremony was held on the occasion of the meeting of the heads of the EIB and the CDP group to review their joint action in support of Italy’s economy based on the 2009 framework agreement between the two institutions designed to strengthen and develop the capacities of government services, state-owned companies, local bodies, large corporates, strategic infrastructure and small and medium-sized businesses in the country. This agreement has to date enabled the provision of loans worth around €6.5 billion to boost the country’s economy.
During the meeting the heads of the EIB and the CDP group reaffirmed their commitment to continue and step up their fruitful cooperation, which is key to the recovery of productive investment in Italy at a time when the effects of the long recession in the country are still being felt.
This loan for post-earthquake reconstruction in Emilia-Romagna will help to finance the rebuilding and refurbishment of industrial and residential buildings in the region and in neighbouring provinces hit by the earthquake of May 2012.