Liguria and the CEB sign a € 70 million agreement to finance the Region’s three-year investment plan

The President of the Liguria Region, Giovanni Toti, and the Vice-Governor of the Council of Europe Development Bank (CEB), Carlo Monticelli, signed a € 70 million loan agreement aimed at financing the Region’s investment priorities. 

The funds made available by CEB will be used to finance strategic investments in key areas of the Region; they will improve safety and security, maintain and upgrade regional infrastructure and facilities, and modernise public administration services.

The CEB financing is provided under favorable conditions which will enable the Region to continue its program of social investment for the benefit of the citizens, with a major impact on its territory and at a particularly sensitive time.

The cooperation agreement between the CEB and Liguria is part of the Bank’s strategy to support local and regional authorities with the aim of promoting sustainable territorial development from an economic and a social point of view.

The CEB Vice-Governor, Carlo Monticelli, said: “We are pleased to sign this financing agreement and thus contribute to the achievement of important objectives for the inhabitants of Liguria. Interventions related to people’ safety and security and the improvement of living conditions represent core CEB activities, particularly when targeting to communities affected by tragic events and long exposed to significant hydrogeological risks. The Bank’s support to improve living conditions, in line with its mandate, is confirmed by the intervention in favor of the City of Genova, which is currently at an advanced stage of preparation.”

Original source: CEB
Published on 21 May 2019