Signature(s)
Summary sheet
- Credit lines - Credit lines
The operation consists of a de-linked unfunded risk-sharing instrument providing CDP with capital and concentration risk relief. The guarantee will cover up to 50% of the credit risk associated to an existing portfolio of loans provided to some Italian regions, namely Lazio and Campania.
The aim is to incentivise CDP to provide new loans to Italian local authorities, municipalities and public sector entities, as well as enable more Italian regions and local authorities to benefit from the EIB support, through an experienced intermediary.
The proposed risk sharing product is expected to support access to long term funding and resulting investments by local public authorities and public sector entities across Italy, targeting several EIB COP objective areas, including Climate Action and Environmental Sustainability and Economic and Social Cohesion. Various economic benefits via externalities, such as improved urban network as well as health, education and transport infrastructure, are expected, contributing to the better functioning of the urban economy and the social well-being and inclusion of citizens.
The EIB guarantee, contributing to capital and concentration risk relief to CDP, has highly customized features based on CDP's and underlying risk counterparts' characteristics, with no benchmark on the market.
In line with the EIB's policy to ensure that sub-loans comply with the EU legislation, in particular in the fields of environment and public procurement, CDP has to take all required measures to ensure that the environment and procurement procedures carried out by the final recipients under the new portfolio comply with the relevant EU environment and procurement legislation as well as the applicable national legislation, provided that it is in conformity with EU rules.
In line with the EIB's policy to ensure that sub-loans comply with the EU legislation, in particular in the fields of environment and public procurement, CDP has to take all required measures to ensure that the environment and procurement procedures carried out by the final recipients under the new portfolio comply with the relevant EU environment and procurement legislation as well as the applicable national legislation, provided that it is in conformity with EU rules.
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only 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.
Media enquiries
Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.
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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