EIB, CDP Forge Partnership To Boost Public Sector Investment In Italy

11/4/2024 9:11:41 AM

(MENAFN- Trend News Agency) BAKU, Azerbaijan, November 4. The European Investment bank (EIB) and Cassa Depositi e Prestiti (CDP) have entered into a landmark agreement to enhance their collaboration aimed at promoting public sector investment across critical sectors of the Italian economy, Trend reports via the EIB.

The initiative will mobilize up to €1 billion in new funding to support sustainable regional growth and public sector investment, focusing on projects that positively impact environmental sustainability, social cohesion, and development, particularly in the southern regions of Italy.

Under the terms of the agreement, the EIB will guarantee loans totaling up to €500 million, provided by CDP to Italian regions. This arrangement allows CDP to extend loans to public sector entities amounting to double that figure, reaching a total of up to €1 billion over the next five years.

The funding is set to drive economic development in central and southern Italy, including regions affected by the devastating 2016 earthquake. The financial support will facilitate projects aimed at mitigating climate change, enhancing resilience against adverse weather events, and fostering social cohesion.

This agreement builds on the robust partnership established between the EIB and CDP, marking their second guarantee arrangement, following a similar agreement signed in 2022. The previous collaboration focused on accelerating economic growth and advancing the green transition for public sector entities throughout the country.

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