First direct loan to the Region to finance its 2019-2021 three-year plan
Funds are aimed at supporting schools, hospitals, the water sector, energy efficiency projects and renewable energy resources
Positive impact on the sustainable development of the region and on employment: over 1 200 new jobs created every year
The European Investment Bank (EIB) is providing a EUR 125m loan to Italy’s Friuli Venezia Giulia (FVG) Region for the implementation of its 2019-2021 infrastructure plan. The operation, which is the first direct loan between the EU bank and the Region, was signed this morning in Trieste by EIB Vice-President Dario Scannapieco and Governor of the FVG Autonomous Region Massimiliano Fedriga.
The EIB funds will be used to implement the works in different sectors set out in the regional plan. The list includes projects promoted by public entities in the areas of anti-seismic adaptation and energy efficiency upgrading of school buildings, social infrastructure such as hospitals, co-generation and energy efficiency projects, renewable energy generation and improvements in the utilisation of water resources. It also includes works to enhance the region’s historic, natural and cultural heritage. Overall, the loan will contribute to the growth and the economic and social attractiveness of Friuli Venezia Giulia, promoting the sustainable development of the region.
As far as EIB policies are concerned, the operation with the FVG Region falls within the EU bank’s priority areas of activity: environmental protection, climate change mitigation and adaptation, energy efficiency and social cohesion. According to the Bank’s estimates, the implementation of the projects will create over 1 200 temporary jobs every year, with an even higher final impact on permanent employment.
“I am particularly proud of this operation because it enables us to get close to the real economy and all the citizens of Friuli Venezia Giulia, with concrete projects crucial for the balanced development of the region. But also because FVG is a key region for Europe: it represents a bridge to the Balkans,” commented EIB Vice-President Scannapieco.
Governor Fedriga said he was “very pleased with the signing of the agreement”, underlining “the importance of the projects which will cover the needs of four different regional sectors and involve the utilisation of sizeable resources for essential investments in the Friuli Venezia Giulia region, which is seeking to consolidate its role at the heart of Europe.”
The EIB is providing the Institut Catalá de Finances (ICF) with a loan of up to EUR 250 million to support SMEs, the companies most vulnerable to the COVID-19 shock. The two institutions have signed the first EUR 150 million instalment of this financing agreement under an accelerated approval procedure put in place by the EIB in this emergency to ensure that the funds reach Spanish firms as quickly as possible. This is one of the first operations mounted under the EIB’s EUR 5 billion programme to safeguard European businesses in the face of the coronavirus crisis.
The EIB and Unión de Créditos Inmobiliarios (UCI) are set to finance green investments in Iberia ranging from the refurbishment of existing buildings to the construction of Nearly Zero-Energy properties. These investments will be possible thanks to the provision of energy efficiency mortgages and consumer loans to the market by UCI.
The Board of Directors of the EIB has on 26 May agreed on the structure and business model of the new Pan-European Guarantee Fund to tackle the economic consequences of the Covid-19 pandemic. The Fund was endorsed by the European Council on 23 April as part of the overall EU Covid-19 response package.