CDP CLIMATE CHANGE IP - MCI

Promoter – Financial Intermediary

MEDIOCREDITO ITALIANO SPA

Location

• Italy

Description

The project, an operation under the "Cassa Depositi e Prestiti (CDP) Climate Change Investment Platform (IP), is a linked unfunded partial delegation risk sharing instrument for an amount of up to EUR 140m. It will cover on a pari-passu basis, along with CDP (the Italian National Promotional Bank), up to 50% of the credit risk associated with a new portfolio of loans originated by Mediocredito Italiano (MCI) part of the Intesa SanPaolo Group.

Objectives

Such loans provided by Mediocredito Italiano will finance medium sized projects in the field of energy efficiency, renewable energy and environmental protection, in line with EU objectives. The operation also contributes to meeting Italy's renewable energy (RE) and energy efficiency (EE) objectives and will actively support the transition to a circular economy.

Sector(s)

• Energy - Electricity, gas, steam and air conditioning supply
• Solid waste - Water supply; sewerage, waste management and remediation activities

Proposed EIB finance (Approximate amount)

EUR 140 million

Total cost (Approximate amount)

EUR 400 million

Environmental aspects

The project targets investments in Italy which contribute to reduce greenhouse gas emissions, environmental footprint of human activities in the rural and urban environments, including agriculture, increase resource efficiency and thus contribute to the transition to a circular economy. MCI will be required to ensure that all projects under the operation will comply with applicable national and EU legislation, as appropriate.

Procurement

MCI will be required to ensure that procurement procedures applied on all projects under the operation will comply with the relevant national legislation and EU Procurement Directives, as appropriate.

Status

Signed - 28/05/2019