EIB and Intesa Sanpaolo Collaborate on €100m Loan to Promote Green Transition in Italian Public Sector

EIB and Intesa Sanpaolo Collaborate on €100m Loan to Promote Green Transition in Italian Public Sector

(IN BRIEF) The European Investment Bank (EIB) and Intesa Sanpaolo have entered into an agreement for a €100 million loan to facilitate the green transition of the public sector and publicly owned companies in Italy. This initiative marks the first loan granted by the EIB to an Italian commercial bank to support sustainable investments promoted by the Public Administration. Intesa Sanpaolo’s IMI Corporate & Investment Banking Division will use the funds to promote €200 million worth of investments by local and public authorities. These investments will include the purchase of eco-friendly buses for public transport, the enhancement of water supply networks, and infrastructure improvements, as well as the acquisition of vehicles, equipment, and infrastructure for sorted waste collection. The financing resources may also be directed toward projects funded by Italy’s national recovery and resilience plan. The partnership offers favorable financing conditions, including extended maturities, flexible disbursements, and competitive interest rates. Over the past five years, the EIB and Intesa Sanpaolo have collaborated on 15 operations, supporting SMEs and mid-caps with access to credit and infrastructure projects such as railway modernization and port upgrades.

(PRESS RELEASE) MILAN, 7-NOV-2023 — /EuropaWire/ — The European Investment Bank (EIB) and Intesa Sanpaolo have signed an agreement for a €100m loan to support the green transition of the public sector and publicly owned companies. Thanks to this initiative, which represents the first loan granted by the EU Bank to a commercial bank in Italy to support sustainable investments promoted by the Public Administration, Intesa Sanpaolo’s IMI Corporate & Investment Banking Division, led by Mauro Micillo, to promote investments totalling €200 million made by local and public authorities. Eligible investments will include, among others, the purchase of environmentally friendly buses for public transport use, the rehabilitation or improvement of water supply networks and infrastructure and the purchase of vehicles, equipment and infrastructure for sorted waste collection. The resources made available by the EIB and Intesa Sanpaolo may also be allocated to investments and projects funded by the Italian national recovery and resilience plan. The EIB-Intesa Sanpaolo agreement opens up new possibilities for public bodies, offering favourable financing conditions including longer maturities (up to 15 years), flexible disbursements and amortisation plans and competitive interest rates. In the last five years, the EIB and Intesa Sanpaolo have signed 15 operations totalling almost €2.4 billion, supporting small and medium-sized enterprise (SME) and mid-cap access to credit to the tune of €4.5 billion, together with the completion of major infrastructure work such as the Palermo-Catania railway and the modernisation of the port of La Spezia.

EIB Vice-President Gelsomina Vigliotti said: “Investment promoting water sector efficiency, environmentally friendly transport and better waste management is key to achieving climate neutrality. The EIB-Intesa Sanpaolo partnership confirms our joint commitment to the transition to a sustainable society and economy.”

Head of Distribution Platforms & GTB in Intesa Sanpaolo’s IMI CIB Division Nicola Doninelli added: “The agreement signed with EIB confirms the common commitment to accelerating the transition to a low-emission economy. Backing the sustainable modernisation of public services is a concrete and important way to invest in the development of our country.”

Background information

The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It provides long-term financing for sound investments that contribute to EU policy. The Bank finances projects in four priority areas: infrastructure, innovation, climate and environment, and small and mediumsized enterprises (SMEs). Between 2019 and 2022, the EIB Group provided more than €45 billion in financing for projects in Italy.

Intesa Sanpaolo is Italy’s leading banking group — serving families, businesses and the real economy — with a significant international presence. Intesa Sanpaolo’s distinctive business model makes it a European leader in wealth management and protection and advisory, with a specific focus on digital and fintech, in particular with Isybank, the group’s digital bank. An efficient and resilient Bank, it benefits from its wholly-owned product factories in asset management and insurance. The Group’s strong ESG commitment includes providing €115 billion in impact lending by 2025 to communities and for the green transition, and €500 million in contributions to support people most in need, positioning Intesa Sanpaolo as a world leader in terms of social impact. Intesa Sanpaolo is committed to net zero by 2030 for its own emissions and by 2050 for its loan and investment portfolios, asset management and insurance business. An engaged patron of Italian culture, Intesa Sanpaolo has created its own network of museums, the Gallerie d’Italia, to host the bank’s artistic heritage and as a venue for prestigious cultural projects.

News: group.intesasanpaolo.com/en/newsroom/news — Twitter: twitter.com/intesasanpaolo

LinkedIn: linkedin.com/company/intesa-sanpaolo

Media Contacts:

EIB:
Lorenzo Squintani
l.squintani@eib.org
mobile: +39 366 57 90 312

Website: www.eib.org/press
Press Office +352 4379 21000
press@eib.org

Intesa Sanpaolo:
Corporate & Investment Banking and Governance Areas
stampa@intesasanpaolo.com

SOURCE: Intesa Sanpaolo