REGIONE CALABRIA AGRICULTURE & FISHERIES

Promoter – Financial Intermediary

REGIONE CALABRIA

Location

• Italy

Description

Structural Programme Loan (SPL) to finance the regional budget for implementing priority schemes under the regional programmes co-funded by EU EAFRD and EMFAF.

Additionality and Impact

By supporting the co-financing obligations of Regione Calabria for investments under the European Agricultural Fund for Rural Development (EAFRD) and the European Maritime, Fisheries and Aquaculture Fund (EMFAF), the Project contributes to three of the EIB's primary policy objectives and to the horizontal objective of Economic and social Cohesion.

The Project supports rural development through a broad range of investments, including in basic rural infrastructure and natural-resource protection and sustainable use. Moreover, by supporting SMEs in the agricultural sector, the Project eases well-known financial constraints facing SMEs. Among the positive externalities that make the economic rate of return (qualitative estimate) likely to exceed the financial rate of return, are more energy-efficient machinery and equipment used in agriculture, stronger resilience and better protection of forest eco-systems, and knowledge spillovers from the transmission of best practice in agriculture.

Finally, EIB's financing provides financial benefits, longer tenor, and flexible loan conditions. It also helps Regione Calabria diversify its financing sources and provides funding stability.

Objectives

The operation supports, through regional contribution co-financing, priority investments under the following multiannual programmes: -The rural development programme of Regione Calabria under the of the Italian Strategic Plan of the 2023-2027 Common Agricultural Policy (CAP) (CCI: 2023IT06AFSP001) -The Regione Calabria component of the National Operational Program funded by the European Maritime, Fisheries and Aquaculture Fund (EMFAF) 2021-2027 (CCI: 2021IT14MFPR001) Furthermore, the operation concerns the co-financing obligations of Regione Calabria for 2024 and 2025 under the 2014-2020 Rural Development programme (CCI: 2014IT06RDRP018).

Sector(s)

• Agriculture, fisheries, forestry - Agriculture, forestry and fishing
• Water, sewerage - Agriculture, forestry and fishing
• Composite infrastructure - Construction
• Telecom - Information and communication
• Services - Professional, scientific and technical activities

Proposed EIB finance (Approximate amount)

EUR 153 million

Total cost (Approximate amount)

EUR 306 million

Environmental aspects

The promoter will be required to act in compliance with relevant EU environmental legislation, mainly SEA Directive (2001/42/EC), EIA Directive (2011/92/EU, as amended by 2014/52/EU), Habitats (92/43/EEC) and Birds (2009/147/EC) Directives and national legislation. The promoter will be required to act in compliance with the Water Framework Directive (WFD) 2000/60/EC and the Urban Waste Water Council Directive 91/271/EEC. For schemes concerning new construction or refurbishment of buildings, the promoter will be required to ensure compliance with the Energy performance of buildings directive (Directive EU/2018/844). The project is expected to contribute to climate action and environmental sustainability (CA&ES) objectives, in particular to climate mitigation, climate adaptation, transition to a circular economy, sustainable use and protection of water resources. Projects will be appraised and monitored in line with the Bank's policies, including the Environmental and Social Sustainability Framework.

Procurement

The Bank will require the promoter to ensure that contracts for implementation of the project will be tendered in accordance with the applicable EU procurement legislation, Directive 2014/23/EU / 2014/24/EU / 2014/25/EU as well as Directive 92/13/EEC or Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.

Status

Signed - 29/01/2025