>@Istituto di Credito Sportivo
© Istituto di Credito Sportivo
  • This financing will be directed to the renovation and redevelopment of existing sports and cultural facilities, with a focus on accessibility, social inclusion and sustainable urban mobility.
  • This is the EIB’s second operation with ICS. The first was a €150 million transaction financed in 2019.

The European Investment Bank (EIB) has granted €100 million in financing to Istituto per il Credito Sportivo (ICS), Italy’s public sector bank promoting the sustainable and inclusive development of the country via financial support for the sports and cultural sectors. The aim is to renovate, redevelop and rebuild existing sports and cultural facilities in Italy, improving their accessibility and environmental sustainability.

The EIB resources will be channelled through ICS to local authorities and public entities in Italy. The underlying projects financed by EIB resources aim to support the renovation, redevelopment and rebuilding of existing sports and cultural facilities. With the goal of promoting urban regeneration, social inclusion and environmental sustainability, other planned operations will help remove architectural barriers and implement other accessibility measures in sports and cultural buildings, apply energy efficiency measures, and build cycle paths to foster sustainable mobility across the country.

This is the EIB’s second operation with ICS. The first €150 million operation was finalised in 2019 and helped support the renovation and redevelopment of the public sports facilities of local entities in Italy.

“Sports and cultural buildings not only play a key role in promoting integration and healthy habits with young people, but also make a major contribution to economic growth and urban regeneration,” said EIB Vice-President Gelsomina Vigliotti. “This new agreement between the EIB and ICS will lead to the rebuilding or renovation of sports and cultural facilities across Italy, with a focus on social inclusion and environmental sustainability, both key priorities for the EU bank.”

“This initiative renews the EIB-ICS partnership, under which ICS will be able to expand the financial resources available for the investment policies of local entities in the sports and cultural sectors, providing the funds needed to implement and complete larger and more structured urban regeneration projects with major benefits for local areas,” said ICS President Antonella Baldino. “As a development bank focusing on relevant economic and social sectors, ICS can make a decisive contribution to the promotion of impactful finance initiatives in support of sustainable, fair and lasting growth.”

Background information

 The EIB finances projects in four priority areas: infrastructure, innovation, climate and environment, and small and medium-sized enterprises (SMEs). Between 2019 and 2022, the EIB Group provided €45 billion in financing for projects in Italy.

Istituto per il Credito Sportivo is a bank working for sustainable and inclusive development through sports and culture.

It is the Italian national leader in sports facility financing as a result of its consolidated experience dating back over 70 years. Since 2014, it has also been active in the cultural sector, with financing to support investments in the audio-visual industry and initiatives to protect, enhance, restore and digitise national historical and artistic heritage.