EIB provides €300 million for sustainable projects and post-COVID-19 reconstruction in Italy

The EU bank is backing the Autonomous Province of Trento for all sustainable public sector projects and the economic recovery from the impact of the COVID-19 pandemic.

This is the goal of the agreement signed by the European Investment Bank (EIB), which will provide €300 million to the northern Italian province, with an initial tranche of €160 million already finalised.

“Trentino has a long history of applying EU bank financing. I am therefore very proud that it is the first in Italy to use the resources we are making available to regions and provinces for sustainable investments and to drive the recovery of the economy, which was hit hard by the halt in activity caused by the COVID-19 pandemic,” said EIB Vice-President Dario Scannapieco.

In concrete terms, projects in the public infrastructure, energy efficiency, and renewable energy sources, sustainable transport, urban development, and renewal sectors together with investments in tackling and mitigating climate change will be eligible for financing. These will be joined by any projects of municipalities and public entities in Trentino that aim to alleviate the effects of the economic and social crisis caused by the pandemic and lay the groundwork for an economic recovery.

Original source: EIB
Published on 21 July 2020