European Investment Bank (EIB) and Council of Europe Development Bank (CEB) are making available EUR 1.255bn and EUR 300m for the School Buildings Plan, prepared and coordinated by the Ministry for Education, Universities and Research (MIUR).
Cassa Depositi e Prestiti (CDP) will use the funds to grant loans to the Regions to finance primary and secondary school projects
Substantial financial benefits for the Italian State from funds provided by these two international institutions
The EU and international financial institutions will continue to modernise Italian schools and make them safer with the support of MIUR. Two agreements providing sizeable resources for school buildings were signed today in Rome: a total of EUR 1.555bn, attributed by the EIB (EUR 1.255bn) and the CEB (300m). These funds will be deployed by Cassa Depositi e Prestiti in support of local authorities that own their school buildings.
The agreements were signed today in Rome, in the presence of Prime Minister Giuseppe Conte, by the Minister for Education, Universities and Research Marco Bussetti, EIB Vice-President Dario Scannapieco, CEB Vice-Governor Carlo Monticelli, and CDP's Chief Executive Officer Fabrizio Palermo.
The loans are intended to fund operations in the fields of restructuring, compliance with safety and seismic standards, energy efficiency and the construction of new school buildings. The funds will be provided by CDP to municipalities, provinces and metropolitan cities on the basis of priority rankings decided by the Regions that have been granted loans; these priority rankings are incorporated in the 2018-2020 national school buildings programme of the Ministry for Education, Universities and Research, which coordinates the plan and will monitor the use of funds. Depreciation costs will be borne by the Government and, thanks to specific disbursement arrangements, the final beneficiaries will be able to use the funds without impacting their own internal stability pact.
Using these EIB and CEB funds will help the Italian Government make significant interest payment savings thanks to the favourable terms for bond fund-raising that apply to these two international institutions (EIB: AAA/AAA/Aaa; CEB: AAA/AA+/Aa1).
Overall, the funds allocated today and in recent years by EU and international financial institutions will be used to develop more than 9 000 school buildings. Thanks to the School Buildings Plan and economic cooperation between the relevant players, there are advanced IT systems mapping all school buildings across Italy and monitoring infrastructural work (accessible in georeferenced and open data formats). These systems are highly valued in Europe.
The EIB has signed a SEK 3.5 billion loan agreement with the Region of Skane in Southern Sweden to finance the modernisation of the regional University Hospital in Malmö. The hospital is currently providing its services from buildings from the sixties and seventies, which are no longer fit for purpose. Skane’s regional council therefore approved a long-term investment programme to house the core medical services in new facilities and rehabilitate the existing facilities for administrative purposes.
In response to the coronavirus pandemic, the EU has awarded an extra grant of MAD 5.4 million to the Euro-Mediterranean University of Fes for the purchase of IT and laboratory equipment. Thanks to this support, the University has been able to ensure the continued education of its scholarship students and produce protective medical equipment.