Italy; 225 million Euros for energy efficiency, renewable energy and environmental projects

The European Investment Bank (EIB) and the Intesa Sanpaolo Group have signed six new agreements to provide medium and long-term finance totalling EUR 661 million to Italian businesses. This initiative reflects the close relationship between the EIB and Intesa Sanpaolo and is ultimately intended to strengthen the support offered to Italy’s productive sector, to mitigate the effects of the financial crisis and help with the incipient recovery process.

Within the ceiling of a total of EUR 661 million made available by the EIB, six sectors were identified for lending that will specifically involve a number of the Intesa Sanpaolo Group companies. In addition to the finance for small and medium-sized enterprises (SMEs), some of the loans will be made available for investment by businesses active in the renewable energy sector.

The Six sectors identified for loans worth a total of 661 million Euro:

SMEs

Loans to university students 

Parma social housing 

Renewable energy 

Energy efficiency at schools in the Province of Milan 

Environment

Among the six identified sectors, of particular interest are:

Renewable energy which will receive a total of EUR 100 million and
Energy efficiency at schools in the Province of Milan which will receive EUR 65 million and
Environment which will recieve EUR 60 million

Renewable energy (EUR 100 million)
Through Mediocredito Italiano and Leasint – both companies belonging to the Intesa Sanpaolo Group – the EIB is providing EUR 100 million to finance projects in the renewable energy and energy efficiency sectors in Italy. This is one of the mainstays of the EIB’s lending activity and builds on the sectoral agreements already signed with Intesa Sanpaolo over the past three years.

Energy efficiency at schools in the Province of Milan (EUR 65 million)
A line of credit was recently signed by the EIB and Intesa Sanpaolo with the Province of Milan for the financing of energy efficiency operations involving public buildings. Specifically, the line of credit will finance eligible private entities such as energy service companies (ESCOs), which successfully bid for lots in calls for tender launched by the Province in respect of energy efficiency operations in schools and buildings owned by municipalities in the Province of Milan (including the city of Milan) and the Province of Monza and Brianza.

Environment (EUR 60 million)
This line of credit is intended to finance small and medium-sized projects involving “environmental protection” and “sustainable communities” (including urban renewal) promoted by local authorities and other public or private sector bodies. The loan may also be used to finance human capital investments (in the health and education sector), projects in the energy sector and other infrastructure projects located in regions eligible for financing from the Structural Funds for the period 2007-2013 under the "Convergence” objective.

To read the full press release, please click here.

Submission URL(s) | http://europa.eu/rapid/press-release_BEI-13-101_en.htm#PR_metaPressRelea......