The European Investment Bank and UniCredit Banca d'Impresa today initialled in Verona an agreement to support investment in local authorities and utility companies.

The EIB lines of credit (known as global loans) to the corporate banking arm of UniCredito Italiano Group will make it easier to provide finance for public infrastructure and projects in the energy and environmental sectors.

Today's agreement also paves the way for further forms of public sector and mixed public-private cooperation as well as other initiatives to support businesses.

The agreement signed by EIB Vice-President Gerlando Genuardi and UBI's Chief Executive Mario Aramini concerns two operations.

The first is a EUR 75 million credit line for up to 15 years, to finance projects in the energy and environmental sector.

The second is a EUR 25 million special credit line for up to 20 years extended to local authorities for small and medium-scale infrastructure projects.

The agreement with the EIB will enable UniCredit Banca d'Impresa to make available rapidly, on competitive terms, loans that can offer attractive forms of finance for small local authorities and utilities, in line with the objectives set out by the EU Member States to revive economic growth based on sustainable development.