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    € 65,000,000
    Italy : € 65,000,000
    Services : € 65,000,000
    Signature date(s)
    4/06/2013 : € 65,000,000

    Summary sheet

    Release date
    3 March 2009
    Signed | 04/06/2013
    Project name
    Promoter - financial intermediary
    Energy Efficiency Milan Covenant of Mayors

    Provincia di Milano

    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    45 million.
    Up to 90 million.

    The investments will mainly concern the refurbishment of existing public buildings, mainly schools, located in some 30 to 40 selected municipalities (out of a total number of 188 municipalities belonging to the Province of Milan, excluding the city of Milan).

    The development of energy efficiency supports national and European targets defined in the context of EU’s climate change and security of energy supply objectives. In particular, the project contributes to the objectives of the Covenant of Mayors initiative of the Commission, as 62 municipalities of the Milan province have joined the Covenant. These municipalities have committed to reduce GHG emission by over 20% by 2020.

    Environmental aspects

    This operation intends to bring environmental benefits by supporting projects that help to mitigate climate change. The individual schemes to be financed are likely to be small and are expected to have limited environmental impacts.

    The Bank will review systems and procedures applied by the promoter during appraisal, including compliance with relevant national and EU legislation, as defined by Procurement Directive 2004/17/EC, and publication in the Official Journal of the EU where appropriate.


    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    General enquiries and comments

    The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
    Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
    Alternatively, the EIB can be contacted through its external offices.
    Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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    Complaints mechanism

    Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

    Zero tolerance against fraud and corruption

    The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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