New loans for up to EUR 1,3bn will be made available over the next three years by the European Investment Bank (EIB) to Italian schools for the modernisation and safety of their buildings and facilities. The financing is part of a new institutional agreement signed with the Italian Ministry of Education, University and Research which builds up on a previous commitment coming to an end this year.
Fresh EIB resources will be made available for the Italian Government’s Schools Upgrading Plan in the years 2018-2020. A new institutional agreement was signed today, on the occasion of the Italian National Day for School Safety, by the Italian Minister of Education, University and Research (MIUR), Ms Valeria Fedeli, European Investment Bank (EIB) Vice-President, Mr Dario Scannapieco, and the Chief Business Officer of Cassa Depositi e Prestiti (CDP), Ms Antonella Baldino.
The EIB will finance projects aimed at upgrading, modernising and enhancing safety of school infrastructure in Italy with loans up to EUR 1.3 billion. One key component of the Schools Upgrade Plan will be the prevention of accidents and seismic damages. The EIB funding will be provided to Cassa Depositi e Prestiti who, in turn, will onlend it to the Regions, who are the bodies responsible for coordinating and selecting the relevant projects at local level. Within each Region, Municipalities, Provinces and Metropolitan Cities will identify projects and ensure implementation.
The new institutional agreement marks a major step in the EIB’s solid cooperation with CDP and the Italian Government in the implementation of the national Schools Upgrading Plan, which began in 2015. In the first three years (2015-2017), the EIB has approved financing worth more than EUR 1.4 billion, with two-thirds already allocated by CDP to over 1 500 school projects throughout the country.
The European Investment Bank (EIB) is providing a €1.2 billion loan to Autostrade per l’Italia SpA (ASPI), one of Europe’s largest toll motorway construction and operation concession holders. The key objectives of the financing include modernising and upgrading the nearly 3 000km of Italian motorways managed by ASPI to improve safety and resilience against future extreme weather-related events. At least €800 million of the EIB funds are supported by InvestEU, the European Commission’s investment programme, for which the EIB Group is the largest implementing partner.
Supporting the economic growth and ecological transition of Italian companies, with particular attention to projects located in southern Italy and the climate transition, are among the key objectives of the agreements totalling €650 million signed today in Milan by EIB Vice-President Gelsomina Vigliotti and Chair of BPER BancaFlavia Mazzarella. Thanks to this EIB financial operation, it is estimated that more than €1.7 billion will be invested in the economy, of which a third in the regions of southern Italy.