EIB: New Agreement Signed To Provide Additional €2B To Back The Reconstruction Of Areas Hit By Central Italian Earthquake

The project agreement – guaranteeing that these additional funds will reach final beneficiaries in line with the sustainability and safety criteria required by the EIB – was signed on July 16 in Rome by Extraordinary Government Commissioner for Post-2016 Earthquake Reconstruction Guido Castelli and EIB Director General of Operations Jean-Christophe Laloux.

This new financial package will lay the groundwork for a potential €1 billion financing contract between the Ministry of Economy and Finance (MEF) and the EIB to support the reconstruction and repair of public assets, as well as an additional €1 billion agreement between the EIB and Cassa Depositi e Prestiti (CDP) to finance, through the banking system, the reconstruction of private, residential, and industrial buildings.

This €2 billion financing package will bring EIB support for reconstruction in the regions of Abruzzo, Lazio, Marche and Umbria to a total of €4.75 billion, almost 15% of the €27 billion estimated by the government to be needed for reconstruction.