EIB, Intesa Sanpaolo Invest in Public Green Transition
Intesa Sanpaolo S.p.A.
The European Investment Bank (EIB) and Intesa Sanpaolo have formalised a noteworthy partnership by signing a €100 million loan agreement.
This financial arrangement is aimed at bolstering the green transformation efforts within the public sector and publicly owned enterprises. Notably, this marks a historic milestone as the EU Bank extends its first-ever loan to a commercial bank in Italy, with the primary objective of supporting sustainable initiatives spearheaded by the Public Administration.
Under the guidance of Mauro Micillo, the IMI Corporate & Investment Banking Division of Intesa Sanpaolo will oversee the deployment of a total investment of €200 million, facilitated by local and public authorities.
The range of eligible investments encompasses a diverse set of eco-friendly endeavours. These include the acquisition of environmentally-conscious buses for public transportation, the revitalisation and enhancement of water supply networks and infrastructure, as well as the procurement of vehicles, equipment, and infrastructure for segregated waste collection.
Additionally, the resources provided by the EIB and Intesa Sanpaolo can be channelled towards projects and investments endorsed by the Italian national recovery and resilience plan. The agreement struck between EIB and Intesa Sanpaolo introduces fresh opportunities for public entities, offering advantageous financial terms such as extended maturities of up to 15 years, flexible disbursement and repayment schedules, and competitive interest rates.
Over the past half-decade, the EIB and Intesa Sanpaolo have collaborated on 15 different operations, amounting to a substantial €2.4 billion in support. This collaboration has played a pivotal role in facilitating access to credit for small and medium-sized enterprises (SMEs) and mid-cap businesses, with a total of €4.5 billion earmarked for these endeavours. Furthermore, these joint efforts have contributed to the completion of significant infrastructure projects, including the Palermo-Catania railway and the modernisation of the port of La Spezia.
EIB Vice-President Gelsomina Vigliotti underscored the significance of investments that enhance the efficiency of the water sector, promote eco-friendly transportation, and improve waste management, emphasising their pivotal role in achieving climate neutrality. Vigliotti emphasised that the EIB-Intesa Sanpaolo partnership underscores their shared commitment to ushering in a sustainable society and economy.
Meanwhile, Nicola Doninelli, Head of Distribution Platforms & GTB in Intesa Sanpaolo’s IMI CIB Division, hailed the agreement with EIB as a testament to their collective dedication to expediting the transition towards a low-emission economy. He stressed that supporting the sustainable modernisation of public services is a tangible and vital step in fostering the development of their nation.
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Source: Intesa Sanpaolo