(AGENPARL) – ven 08 luglio 2022 JOINT PRESS RELEASE2022-314-EN
Rome, 8 July 2022EIB and CDP strengthen partnership to support Italian economy
The two institutions have signed a memorandum of understanding to promote public and private investment in various sectors: infrastructure, digital transformation, social housing, sustainability and the circular economy, and renewable energy.
An initial contract concerns a €535 million guarantee granted by the EIB Group to Cassa Depositi e Prestiti on financing for regions. This will enable CDP to provide over €1 billion of new resources to public entities for sustainable projects, particularly in the centre and south of the country.
Under a second advisory agreement, the EU bank will offer advisory services to optimise the selection and financing of green projects.
The European Investment Bank (EIB) and Cassa Depositi e Prestiti (CDP) have signed three agreements to consolidate and strengthen existing operational synergies. The goal is to promote public and private investment in Italy, improve the selection and financing of green projects and trigger over €1 billion in new financing for public entities, particularly in the south. The agreements were finalised at a meeting at the CDP headquarters in Rome attended by delegations headed by EIB Vice-President Gelsomina Vigliotti and CDP CEO and General Manager Dario Scannapieco.
Memorandum of understanding
The memorandum of understanding renews an agreement signed in 2009, intensifies cooperation between CDP and the EIB Group — which includes the EIB and the European Investment Fund (EIF) — and identifies new operations and potential areas for collaboration in Italy and beyond. It aims to promote public and private investment in sectors that are key to the country’s development, namely sustainability, digital transformation, social housing, urban regeneration, sustainable mobility, education, research and social impact, the circular economy, innovation and competitiveness in the Italian production system, renewable energy and energy efficiency, water and school construction.
The EIB Group and CDP will take a number of actions to address these challenges, starting with the joint planning of strategies to meet the targets of the Italian Climate Fund and to continue to expand activities in support of development finance. This will be in addition to cooperation under the national recovery and resilience plan and InvestEU, as well as possible opportunities to work together on CDP’s strategic plan for 2022-2024.
A form of operational cooperation between the institutions is also planned to enable the cross-cutting utilisation of their expertise across the various areas of activity.
Financing guarantee for regions
To enable Italian regions to implement and complete increasingly complex and sustainable projects, the second agreement provides for the EIB Group to grant a €535 million guarantee on financing that has already been provided by CDP in this sector. This guarantee will have a positive effect on CDP’s asset ratios, meaning it will be able to finance over €1 billion of projects for regions and local entities by 2025, with 20% reserved for initiatives combating climate change and a further 20% for regional projects in the southern regions and areas affected by the 2016 Central Italy earthquake.
Advisory