The European Investment Bank (EIB) today signed finance contracts with three different local authorities in Emilia Romagna, completing a series of operations launched a few days ago with the signing of a first contract with the Province of Ferrara. The EIB loans amount to a total of EUR 160 million and will mainly be destined for urban renewal, sustainable mobility, environmental protection and education projects.

Municipality and Province of Ferrara
Loans worth EUR 60 million and EUR 40 million have been signed with the Municipality and Province of Ferrara respectively. In both cases, the investments will mainly be carried out in the areas of sustainable mobility (urban transport, road improvements), education  (upgrading of schools, cultural amenities and public buildings), environmental protection and energy efficiency. The EIB loans will provide 50% of the necessary resources for implementing the different programmes.

Province and Municipality of Reggio Emilia
Loans totalling EUR 60 million have been granted to the Province and Municipality of Reggio Emilia for carrying out infrastructure works in a variety of areas: urban transport and sustainable urban renewal, cultural heritage and the upgrading of primary and secondary school buildings. This EIB loan will provide around 25% of the total resources necessary for implementing the two authorities’ overall investment plan.