The investment bank of the European Union (EIB) announced that it will fund the Italian Region of Lazio with 500 million euro and its production sectors in the coming years and as a support to the post-Covid-19 recovery. The agreements are already signed or still being finalised, announced Dario Scannapieco, Vice-President of EIB, and Nicola Zingaretti, President of the Lazio Region.
Multisectoral framework agreement worth 300 million euros
The first operation concerns the Framework Agreement for 300-million- euros-worth of loans to the Region over the next 4 years, which has already been signed. On the basis of the Agreement, projects aimed at combating climate change, preventing and mitigating risks from hydrogeological instability, improving, building and upgrading public urban and regional infrastructure, and protecting the environment will be eligible under the Regional Multiannual Programme. Emergency measures to tackle the coronavirus pandemic could also be financed in order to contribute significantly to the economic recovery.
The loans can have maturities of up to 25 years, with a five-year grace period. In addition to financing operations, this cooperation will also enable the Region to benefit from the EIB’s free advisory services and technical assistance. This advisory support is already being provided in the preliminary phase of projects for energy efficiency of public buildings and sustainable mobility.
SMEs and mid-caps: 200 million euros
A second operation, which is currently being finalised, is based on initial EIB financing to the Lazio Region for projects launched by SMEs (up to 250 employees) and mid-caps (250-3000 employees) in all production sectors, again with a special focus on investments to tackle the consequences of the COVID-19 pandemic. The target of the credit line are companies in the Lazio active in all economic sectors.
President of the Lazio Region Nicola Zingaretti said: “The post-Covid-19 recovery that we are envisioning together with the production sector in our region will come about thanks to important agreements such as this one with the European Investment Bank. The granting of €300m worth of loans on extremely favourable financial terms enables us to provide liquidity and therefore instil confidence and hope in the strategic sectors of our regional economy – to help protect the environment, improve how public services are provided, develop infrastructure and make specific investments in health and civil protection.”
Source: TheMayor.EU
