The financing will fund the investments of municipalities and local entities via Cassa del Trentino.
It will support public infrastructure, energy efficiency and renewable energy sources, transport, the fight against climate change and recovery following the crisis caused by the pandemic.
An initial tranche of €160 million has already been finalised.
The EU bank is backing the Autonomous Province of Trento for all sustainable public sector projects and the economic recovery from the impact of the COVID-19 pandemic. This is the goal of the agreement signed today by the European Investment Bank (EIB), which will provide €300 million to the northern Italian province, with an initial tranche of €160 million already finalised.
Cassa del Trentino – the institution for supporting economic development and infrastructure construction and management within the autonomous province – will be responsible for channelling the resources to municipalities and public entities.
In concrete terms, projects in the public infrastructure, energy efficiency and renewable energy sources, sustainable transport, urban development and renewal sectors together with investments in tackling and mitigating climate change will be eligible for financing. These will be joined by any projects of municipalities and public entities in Trentino that aim to alleviate the effects of the economic and social crisis caused by the pandemic and lay the groundwork for an economic recovery.
The maturity of the loans can be up to 20 years, with a four-year grace period. In addition to the advantages of EIB financing – whose own AAA rated bond issues enable it to offer long maturities and favourable rates to loan beneficiaries – disbursements from Cassa del Trentino will be subject to a guarantee from the province.
“Trentino has a long history of applying EU bank financing. I am therefore very proud that it is the first in Italy to use the resources we are making available to regions and provinces for sustainable investments and to drive the recovery of the economy, which was hit hard by the halt in activity caused by the COVID-19 pandemic,” said EIB Vice-President Dario Scannapieco.
The European Investment Bank (EIB) is supporting the Autonomous Province of Bolzano (Province) and its citizens through a framework investment of €126 million. The EIB will finance the Institute for Social Housing (IPES), the body that manages the Province’s subsidised housing, to develop a series of initiatives aimed at alleviating the growing demand for affordable housing for the most vulnerable social groups, including the construction and restructuring of housing units to benefit more than 6 730 people. In addition, the operation will contribute to further improving employment levels in the Province by supporting around 1 600 jobs during the implementation phase.
With three different loans totalling €249 million signed today, the European Investment Bank (EIB) is supporting the economy of the Autonomous Province of Trento and the multiannual investment plans of the city’s university. The loan to the university is particularly innovative in that it will finance the research and development activities of academic and research staff as well as the upgrading of facilities.