CEB provides €300 million for Italy’s National School Building Plan

The Council of Europe Development Bank (CEB) is providing €300 million loan for Italy’s National School Building Plan. The funding will contribute to the rehabilitation, including seismic safety upgrades, and construction of primary and secondary schools throughout Italy.

The CEB’s contribution to Italy’s National School Building Plan adds to the €1,255 million provided by the European Investment Bank (EIB). The financing agreements for both contributions were signed in Rome.

European and international financial institutions have contributed €2.7 billion to the Italian government’s School Building Plan. The funding is intended for general renovation work, safety and security measures, adaptation to seismic safety standards, energy efficiency measures, and the construction of new school buildings. The financing will be provided by CDP to municipalities, provinces and metropolitan cities via the Regions, on the basis of priority rankings prepared by the latter and included in the school investment plan for the 2018 to 2020 period.

The CEB’s cooperation with the CDP dates back to 1998, with financing previously provided by the CEB for environment, health, and education infrastructure and for investments in micro, small and medium-sized enterprises (MSMEs). In addition, the Bank has recently approved a €350 million loan in support of reconstruction works for the Regions impacted by recent earthquakes. Working with the CDP, a valuable CEB partner in Italy, allows the Bank to reach out to the areas that are most in need of social investments and, thus, to act effectively and in accordance with its mandate.

Original source: CEB
Published on 29 July 2019