Release date: 18 June 2025
Promoter – Financial Intermediary
ISTITUTO PER IL CREDITO SPORTIVO E CULTURALE SPALocation
Description
The operation consists in an intermediated Framework Loan to ISTITUTO PER IL CREDITO SPORTIVO E CULTURALE (ICSC) covering investments for the period 2024-2026.
Additionality and Impact
Investments in sports and cultural facilities are expected to have an urban regeneration effect and to promote the revitalisation of inner-city areas. They can bring benefits promoting more sustainable and socially inclusive communities and can have direct and indirect social and economic benefits, in line with the EIB objectives. Universal access to sport promotes social interaction and neighbourhood cohesion. The overall environmental and social impact of the Operation is expected to be positive, with adequate environmental standards and notable social externalities. More widely, the Operation is expected to contribute to improvements to the quality and attractiveness of the built environment and to contribute to climate action and social cohesion objectives.
Objectives
The aim is to support the new construction, refurbishment, upgrade and completion of publicly owned sports and cultural facilities across Italy. Sub-components will be pre-selected by the Intermediary (ICSC) and will include, among others, municipal, regional and national sport and cultural infrastructure, to be refurbished, completed or newly constructed. It will also include ancillary urban infrastructure and public spaces such as bicycle lanes, public squares, etc.
Sector(s)
- Urban development - Construction
Proposed EIB finance (Approximate amount)
EUR 150 million
Total cost (Approximate amount)
EUR 443 million
Environmental aspects
In accordance with the EIB's policy to ensure that sub-loans comply with the EU legislation, in particular in the fields of environment, social and public procurement, the Intermediary shall take all the required measures to ensure that the environment, social and procurement procedures carried out by the final beneficiaries of the underlying projects will comply with the relevant EU and national legislation. Where and if applicable, and based on a risk-based approach as defined in the EIB Group's Environmental and Social Policy, the requirements of the Environmental Impact Assessment (EIA) Directive 2011/92/EU as amended by Directive 2014/52/EU, the Habitats Directive 92/43/EEC, the Birds Directive 2009/147/EC, the Water Framework Directive (WFD) 2000/60/EC (specifically Article 4.7 of the Water Framework Directive (WFD) 2000/60/EC, the Urban Wastewater Treatment Directive (91/271/EEC) and notably the EU Directive on Energy Performance of Buildings (EPBD), will be checked during appraisal and allocation phases
Procurement
The Bank will require the Intermediary to ensure that contracts for implementation of the project will be tendered in accordance with the applicable EU procurement legislation, for contracts above the threshold: Directive 2014/23/EU / 2014/24/EU / 2014/25/EU as well as Directive 92/13/EEC or Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.
Status
Signed - 15/10/2025