The EU bank is backing the Autonomous Province of Trento for all sustainable public sector projects and the economic recovery from the impact of the COVID-19 pandemic.
This is the goal of the agreement signed yesterday by the European Investment Bank (EIB), which will provide €300 million to the northern Italian province, with an initial tranche of €160 million already finalised.
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.
In concrete terms, projects in the public infrastructure, energy efficiency and renewable energy sources, sustainable transport, urban development and renewal sectors together with investments in tackling and mitigating climate change will be eligible for financing.
These will be joined by any projects of municipalities and public entities in Trentino that aim to alleviate the effects of the economic and social crisis caused by the pandemic and lay the groundwork for an economic recovery.
The maturity of the loans can be up to 20 years, with a four-year grace period.