EIB provides 107.5 million to support security and defense in Italy

Brussels – The European Investment Bank (EIB) has signed a new strategic agreement with the Ministry of Economy and Finance and the Ministry of Defense, aiming to strengthen Italy’s security and defense capabilities further. The resources, totaling 107.5 million, will contribute to the purchase of helicopters for the Italian army.

A note from the Institute explains that the operation is part of “the EIB’s broader commitment to European security and defense. It recently expanded its eligibility criteria to backing military projects, in line with EU priorities.”

“The favorable conditions offered by the EIB on international markets mean that the loan will enable the Italian government to make substantial interest savings over the 20-year term,” the bank explains.

It is the third agreement of this kind between the EIB, the Ministry of the Economy, and the Ministry of Defense. In 2022, the bank provided EUR 240 million to purchase 16 light helicopters for the Carabinieri Corps and to upgrade the national air traffic management system. In 2020, it provided EUR 220 million to build three hydro-oceanographic ships.

“This agreement shows the EIB’s growing commitment to supporting European security and defense and is the result of ongoing fruitful dialogue with the Italian government to promote strategic investments strengthening the competitiveness and security of Italy,” said Gelsomina Vigliotti, EIB Vice-President.