- The operation will help repair damage caused by seismic events, reduce the vulnerability of buildings and infrastructure, bolster resilience and contribute to meeting climate adaptation objectives
- The initiative consolidates the partnership between the EIB and the Italian Republic for post-seismic reconstruction, territorial resilience and climate adaptation, building on previous operations in central Italian regions and on the island of Ischia
- The project agreement was signed today by Senator Nello Musumeci and EIB Vice-President Gelsomina Vigliotti
The European Investment Bank (EIB) has approved financing of up to €1.4 billion for the Italian Republic for the reconstruction and safety of buildings and infrastructure located in the Campi Flegrei (Phlegraean Fields) area, which has been affected by seismic events since May 2024. The project agreement for the EIB’s full approval was signed today in Rome by Senator Nello Musumeci, Minister for Civil Protection and Maritime Policies, and EIB Vice-President Gelsomina Vigliotti. The signature of the first tranche of the financing agreement with the Ministry of Economy and Finance (MEF), which will cover the allocations planned for 2025 and 2026 and part of 2027, is expected by the end of the year.
The financing, structured as a framework loan, will be signed with MEF via two separate programmes. These will support the reconstruction and seismic risk reduction of private residential buildings, as well as the reconstruction and safety upgrades of public buildings and infrastructure in the municipalities of Naples, Pozzuoli and Bacoli.
In concrete terms, up to €550 million can be allocated to the reconstruction of private buildings, and up to €850 million for public buildings. Implementation of the operations will be coordinated by the Casa Italia Department, which is responsible for measures supporting the private housing stock; the Civil Protection Department, responsible for coordinating and planning seismic and volcanic risk management activities; and the Special Commissioner for Campi Flegrei, responsible for directing operations on public buildings and infrastructure.
The works, expected to be completed by 2032, aim to reduce the seismic vulnerability of buildings, repair damage already caused by the most recent events – including the 4.6 magnitude earthquake of 30 June 2025 – and strengthen the resilience of buildings according to international build-back-better standards.
In addition to improving the safety and resilience of the Naples metropolitan area, this operation will help improve risk management and the ability to adapt to climate change. Thanks to this EIB loan, the Italian Republic will be able to reduce the total cost of operations and mobilise additional resources, making this project a reference model for future initiatives in other parts of the country that are subject to seismic and hydrogeological risk.
The initiative consolidates the partnership between the EIB and the Italian Republic to support post-seismic reconstruction, improvement of the region's safety, climate adaptation operations and greater resilience against future extreme weather events. Previous operations include the €4.75 billion approved by the EIB for the reconstruction in central Italian regions affected by the 2016 and 2017 earthquakes, as well as the credit line of up to €1 billion allocated for the reconstruction on the island of Ischia following the 2017 earthquake and the 2022 landslide.
“The signing of this agreement represents another key step to ensure the safety of citizens, and demonstrates the unprecedented attention that the Italian government pays to the Campi Flegrei area. The European Investment Bank’s support confirms confidence in Italy’s ability to take seismic and volcanic risk challenges seriously and with a long-term vision,” said Minister for Civil Protection and Maritime Policies Nello Musumeci.
“With this agreement, the EIB renews its commitment to the Italian government, not only to support post-disaster reconstruction efforts, but also to enhance climate change prevention and adaptation. From central Italy to Ischia and now Campi Flegrei, we finance operations that go beyond simply repairing damage, and help make these areas safer and more resilient. In concrete terms, it shows how EU finance can protect communities and strengthen their capacity to face the challenges of the future,” said EIB Vice-President Gelsomina Vigliotti.
Background information
The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight key priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world. The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security. The EIB Group signed 99 operations totalling €10.98 billion in Italy in 2024, unlocking almost €37 billion of investment in the real economy. All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment. Fostering market integration and mobilising investment, the funds made available by the Group unlocked over €100 billion in new investment for Europe’s energy security in 2024 and mobilised a further €110 billion for startups and scale-ups. Around half of the EIB's financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average.