EIB, CEB approve £1.4bn financing to upgrade Italian schools

WCN Editorial Team 30 Jul 2019 EUROPE BUILDINGS

The European Investment Bank (EIB) and Council of Europe Development Bank (CEB) have approved €1.255bn (£1.13bn) and €300m (£271.6m) funding respectively for the School Buildings Plan in Italy.

The School Buildings Plan is prepared and coordinated by the Italian Ministry for Education, Universities and Research (MIUR).

Italian investment bank Cassa Depositi e Prestiti (CDP) will use the funds to modernise the schools and make them safer with the support of MIUR.

CDP will use the loan in support of local authorities that own their school building. It will support operations in the fields of restructuring, energy efficiency, compliance with safety and seismic standards, and the construction of new school buildings.

EIB said in a statement: “The funds will be provided by CDP to municipalities, provinces and metropolitan cities on the basis of priority rankings decided by the Regions that have been granted loans; these priority rankings are incorporated in the 2018-2020 national school buildings programme of the Ministry for Education, Universities and Research, which coordinates the plan and will monitor the use of funds.

“Depreciation costs will be borne by the Government and, thanks to specific disbursement arrangements, the final beneficiaries will be able to use the funds without impacting their own internal stability pact.”

The two new funds are expected to help the Italian government make significant interest payment savings.

Earlier in July 2019, EIB said that it has approved €125m (£113.1m) loan to Italy’s Friuli Venezia Giulia (FVG) Region for the implementation of its 2019-2021 infrastructure plan.

The loan will be used to fund the works under the regional plan, which include projects promoted by public entities in the areas of anti-seismic adaptation and energy efficiency upgrading of school buildings, social infrastructure such as hospitals, co-generation and energy efficiency projects, renewable energy generation and improvements in the utilisation of water resources.

The projects also include works to enhance the region’s historic, natural and cultural heritage.

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Image: Officials at the signing of the school upgrade loan agreements. Photo: courtesy of Tiziana Antonini/EIB.

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