Italy: EIB provides up to €97.5 million to renovate and modernise infrastructure at Politecnico di Torino

• The financing will back the construction and redevelopment of university buildings, creating over 67 000 m² of new, modern teaching and research spaces
• Around 37 000 students will benefit from more innovative, sustainable and digital facilities.
• The project will have a significant impact on employment, with around 1 900 people employed during the work phase and 300 new permanent jobs on completion
• This operation is part of the EIB’s broader support for Italian universities, with more than €700 million provided in the past decade

The European Investment Bank (EIB) and the Politecnico di Torino have signed a finance contract worth up to €97.5 million to support a wide-ranging programme to renovate, redevelop and build new, modern and sustainable infrastructure. The initiative aims to improve the quality of teaching, research and innovation, as well as the energy efficiency of the campus, consolidating the university’s role as a leading national and European-level scientific hub.

“Investing in modern and sustainable universities means investing in the future of young people and national competitiveness,” said EIB Vice-President Gelsomina Vigliotti. “By supporting the Politecnico di Torino, one of Italy’s engineering and innovation centres of excellence, we are helping to enhance the country’s competitiveness and promote the green and digital transition.”

The project includes new construction and redevelopment of university buildings in the city of Turin, totalling over 67 000 m² of modern teaching, research lab and development and innovation spaces. The new infrastructure will improve the learning environment for students and working conditions for academic staff, while creating more sustainable and energy-efficient surroundings.

“This result was made possible via the continuous improvement and management of our budget, implementing methods and analysis and management control models to support the Politecnico di Torino’s development activities,” said Director-General Vincenzo Tedesco. “The university has established itself as a trusted co-financing partner for the EIB with a substantially better credit rating than in the past, positioning itself firmly as a social investment player. We have also introduced timeline and cost planning and monitoring mechanisms for strategic projects financed by the EIB to the relevant administrative structure.”

The project will strengthen research and innovation capabilities in strategic sectors of the economy, such as aerospace and advanced manufacturing, helping to improve national competitiveness and create new opportunities for universities, businesses and research centres to work together.

This financing is part of the EIB’s broader commitment to support Italian universities. In the last ten years, the EU bank has backed universities across the country, providing over €700 million in financing for campus modernisation and energy efficiency and helping to improve teaching and research.

Background information

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. It finances investments that contribute to EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality. In the last five years, the EIB Group has provided more than €58 billion in financing for projects in Italy. All projects financed by the EIB Group are in line with the Paris Climate Agreement. The EIB Group does not fund investments in fossil fuels. We are on track to deliver on our commitment to support €1 trillion in climate and environmental sustainability investment in the decade to 2030 as pledged in our Climate Bank Roadmap. Over half of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation and adaptation, and a healthier environment. Around half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower. High-quality, updated photos of our headquarters, available for media use, can be found here.

Politecnico di Torino (www.polito.it) was founded in 1906 and has its roots in the Technical School for Engineers created in 1859.  It is internationally ranked among the most important universities in Europe for engineering and architecture studies, with more than 39,000 students (out of which 20% are international students coming from 110 different countries).Politecnico is a center of excellence for education and research in engineering, architecture, design and planning and it works in close cooperation with the socio-economic system. It is a comprehensive Research University where education and research complement each other and create synergies  in order to address the needs of the economic system, of the local community and, above all, of its students.  Politecnico is committed to a strong internationalization process of its teaching, research and technology transfer activities:  not only does it work in cooperation with the best universities and research centers in world, but it has also been signing agreements and contracts with important international corporations,  as well as local businesses, meaning to be for  the latter a focal point for innovation.