Italy: EUR 70 million JESSICA holding fund for urban and energy efficiency projects in Sardinia

The European Investment Bank (EIB) and the Sardinia Region today announced the creation of a EUR 70 million JESSICA holding fund for financing projects on the island. EUR 35 million will be devoted to urban renewal and regeneration in Sardinia’s main provincial capitals and the other EUR 35 million is earmarked for the “Sardinia CO2.0” project designed to improve energy efficiency throughout the region by financing integrated municipal projects that include a renewable energy component.

The investments will be made via urban development funds (UDFs) that invest in projects forming part of integrated urban development and/or energy efficiency plans, particularly those structured as project finance schemes or public private partnerships (PPPs). The UDFs are created or selected in such a way as to ensure sufficient competence and management independence in the selection of the most financially robust projects.

JESSICA

JESSICA (Joint European Support for Sustainable Development in City Areas) is a joint initiative of the European Commission and the EIB, with the cooperation of the Council of Europe Development Bank, which is designed to foster investment in urban areas through the more effective use of the EU structural funds made available to the regions of the EU Member States. So far some 20 countries have decided to set up (or are considering setting up) JESSICA funds supporting investment in urban areas, including energy efficiency and renewable energy projects.

In Italy, Sicily and Campania have already set up JESSICA holding funds of EUR 148 million and EUR 100 million respectively. Other regions have also carried out feasibility studies into the possibility of participating in the JESSICA initiative.

Note to editors:

EIB
The European Investment Bank supports the strategic and policy objectives of the European Union by granting long-term loans for economically viable investment projects. The EIB’s shareholders are the 27 EU Member States. Italy is one of the four leading shareholders, along with the United Kingdom, Germany and France, each holding a 16.2% stake in the Bank.

Contact

Lorenzo Squintani

l.squintani@eib.org
+352437982528

Reference

2011-114-EN

19 April 2024

Italy: Study on climate change in Ischia provides guidance on reconstruction and safety improvements

EIB report presented at the initiative of EIB Vice-President Vigliotti and Extraordinary Commissioner Legnini

12 April 2024

Italy: EIB and BCC Iccrea Group provide €400 million to support the innovation of SMEs and mid-caps and economic development in the South of Italy

The European Investment Bank (EIB) and BCC Banca Iccrea, parent company of the BCC Iccrea Group, have signed an agreement that will help unlock more than €400 million of new finance for small and medium businesses (SMEs) and mid-caps. The operation, announced today in Rome by EIB Vice-President Gelsomina Vigliotti and Managing Director of BCC Iccrea Group Mauro Pastore, supports access to credit on favourable terms and aims to promote innovation and projects located in the South of Italy, reflecting the strong commitment of both institutions to promoting the digital transition and economic cohesion in the country.

14 March 2024

Italy: EIB provides €30 million for the construction of a state-of-the-art care centre for senior citizens in Brixen

The European Investment Bank and the municipalities of Brixen, Vahrn, and Lüsen signed today a financing agreement for the new care centre for elderly citizens in the Autonomous Province of Bolzano-South Tyrol. The EIB will lend €30 million for this ambitious project, costing €53 million in total, divided proportionally between the three municipalities.