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EIB funding provided for projects in Italy [free access]

July 23, 2020

The European Investment Bank (EIB) has signed an agreement to provide EUR300 million funding to the Autonomous Province of Trento for all sustainable public sector projects and to accelerate economic recovery from the impact of the COVID-19 pandemic. An initial funding of EUR160 million has already been finalised. The funding will cover projects in the areas of renewable energy sources, urban development, and public transport. The maturity period of the loans will be up to 20 years, with a four-year grace period.

 

Cassa del Trentino, the institution for supporting economic development and infrastructure construction and management within the autonomous province, will be responsible for channelling the resources to municipalities and public entities. The disbursements from Cassa del Trentino for the projects will be subject to a guarantee from the province.

 

EIB has also approved EUR450 million in financing for Trenitalia, a subsidiary of Ferrovie dello Stato Italiane (FS Italiane)/Italian State Railways, to support the purchase of 135 new diesel-electric hybrid trains. An initial funding of EUR150 million had already been finalised via the subscription of an FS Italiane corporate bond and will be used to finance an order for 43 hybrid Hitachi Caravaggio trainsets. The total cost of the rolling stock modernisation project is EUR960 million.

 

The new trains will be used for regional services in Calabria, Lazio, Molise, Toscana, Valle d’Aosta, Sardinia, and Sicily. The trains will be equipped with conventional overhead pantographs, high-efficiency diesel engines for non-electrified routes, and last-mile batteries for urban areas.

 

(1 EUR [Euro] = 1.16 USD)