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    Reference: 20220410
    Release date: 3 November 2022

    Promoter – Financial Intermediary




    The project consists of a Multiple Beneficiary Intermediated Loan (MBIL) to Istituto per il Credito Sportivo (ICS) supporting the refurbishment, upgrading and reconstruction of existing publicly-owned sports and cultural facilities across Italy.

    Additionality and Impact

    The Operation concerns investments in sports and cultural facilities in Italian cities within the context of planning-led integrated urban development strategies. Although there has been a continuous growth in sport practice and attendance to cultural facilities in Italy, this growth has not been matched by increased investments. The Operation addresses a more equitable access to sports and cultural facilities. Investments in sports facilities are expected to improve resident's quality of life, contribute to social inclusion and generate economic growth. Investments in cultural facilities promote the revitalisation of inner cities, contribute to the local patrimony and preserve cultural resources for future generations. In addition, energy efficiency investments contribute to reducing energy costs for municipalities and public bodies, which have been accentuated with the recent increases in energy prices due to the natural gas crisis and the Ukraine conflict.


    The MBIL will finance improvements exclusively promoted by local public authorities, at municipal and regional level.


    Proposed EIB finance (Approximate amount)

    EUR 100 million

    Total cost (Approximate amount)

    not applicable

    Environmental aspects

    Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.


    Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.


    Signed - 3/03/2023

    Under appraisal
    21 December 2022
    3 March 2023


    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).

    Related tags

    Italy Urban development Credit lines