EIB and Cassa Depositi e Prestiti team up to support the Italian economy

Brussels – The European Investment Bank (EIB) signed a new agreement with Italy’s Cassa Depositi e Prestiti (CDP) to stimulate the country’s economy through green initiatives by public administrations, especially in central and southern Italy.

According to the agreement, the EIB will guarantee loans totaling up to 500 million to CDP, making it possible for CDP to make available to beneficiaries up to double this amount over the next five years. Concretely, there is talk of an amount that would reach one billion and could allow public administrations to focus on projects related to green transition, social cohesion, and development in the South. One focus is on regions in central and southern Italy, “including those affected by the 2016 earthquake.”

Connected to the ecological transition is the need to invest in climate change mitigation (for which the European Commission recently provided aid in response to its effects and disasters in Italy) and to progress in resilience in the face of extreme weather events.

The new initiative strengthens collaboration between institutions, already established in 2022, aiming to promote economic growth and accelerate the green transition in public administrations (PA). Both are goals of Cassa Depositi e Prestiti, an Italian institution that focuses on the country’s industrial and infrastructure development in cooperation with local governments.

The EIB has been working in Italy since 1959, with investments that in 2023 focused heavily on the green transition and projects related to urban sustainability. As evidence of the EIB’s commitment to the issue, it recently concluded an agreement with Intesa Sanpaolo for wind energy and investment in graphene production in Italy, which has significant potential for decarbonization.