EIB Group activity in Italy in 2022: €10.09 billion of investment and record green financing

• Italy was the leading country for financing and resources managed by the EIB Group in 2022.
• More than half of the EIB Group’s financing in Italy, €5.52 billion, was dedicated to combating climate change and supporting environmental sustainability.

The EIB Group, consisting of the European Investment Bank (EIB) and the European Investment Fund (EIF), today in Rome presented the results of its activity in Italy in 2022. Last year, the EIB Group signed 85 operations totalling €10.09 billion in Italy, of which €9.29 billion in loans and guarantees, €612 million in resources managed on behalf of the government under the National Recovery Resilience Plan (NRRP) and €194 million managed for the European Guarantee Fund (EGF), which was set up by the EIB Group to mitigate the economic crisis caused by the pandemic. Italy, which received 15.9% of total EIB activity in the European Union in 2022, was the leading country for financing and resources managed by the EIB Group in 2022. It is estimated that this activity will help unlock around €34 billion of investment in the real economy.

“To counter the current energy crisis, in 2022 the EIB Group significantly increased investment supporting the ecological transition in Italy, investing the record sum of €5.54 billion in projects helping to produce renewable energy, ensure energy security, promote sustainable mobility and decarbonise our businesses, paying particular attention to sectors considered hard-to-abate. Thanks to the leverage effect of the EIB Group’s activity, the €10.09 billion in new financing dedicated to Italy in 2022 will unlock more than €34 billion in support of both the private and public sectors, thus helping to finance the liquidity requirements of over 82 500 small and medium-sized businesses and support the government in implementing the NRRP. In addition, I am pleased to confirm that again last year one in every six euros disbursed by the EIB Group in Europe went to Italy,” said EIB Vice-President and EIF Chair Gelsomina Vigliotti at the presentation of the results in Rome.

€5.52 billion for climate and environmental sustainability

In view of the current energy crisis and the need to reduce the European Union’s dependence on Russian fossil fuels, in 2022 the EIB Group focused its funding on combating climate change, devoting 55% of total resources in Italy, €5.52 billion, to supporting green projects that help promote climate action, energy transition as well as the development of renewable energy and sustainable mobility in the country.

€3.35 billion in support of Italian small and medium-sized businesses

First the pandemic and now inflation have continued to highlight the need to support the liquidity requirements of small and medium-sized businesses (SMEs), which account for a substantial share of the productive fabric and employment levels in the country. In this regard, in 2022 the EIB Group supported over 82 500 Italian small businesses and mid-caps, which employ more than 1.2 million people, to the tune of €3.35 billion, 33% of the EIB Group’s total activity in the country.

€1.17 billion for research, development and innovation

In 2022, funding for innovation, digitalisation and human development, key areas to promote the digital and ecological transition, reached a volume of €1.17 billion in Italy.

Overall results — EIB Group 

In 2022, the EIB Group provided a total of €72.5 billion in financing. This activity will help unlock around €260 billion in investment in the real economy and support the creation of 950 000 jobs by 2026. In addition, in 2022 the EIB devoted almost half (46%) of its financing to projects located in cohesion regions.

In terms of the ecological transition, the EIB once again increased its green financing to €36.5 billion (58.3% of total financing), which means that the Bank has fulfilled its commitment to devote at least half of its resources to climate action and environmental sustainability, well ahead of the 2025 target. In general terms, the EIB Group is on track to meet its goal of unlocking €1 trillion through green financing over this decade, having already supported investments worth €222 billion in the past two years.

Support for Ukraine

The EIB offered immediate aid to Ukraine, providing €1.7 billion last year to help finance the reconstruction of the country’s infrastructure ravaged by Russian bombing.

EIF activities

In 2022, the EIF funded small businesses and green projects with over €9 billion, aiming to unlock some €97 billion in investments supporting climate neutrality, the digital transition of EU industries and the competitiveness of entrepreneurs in the European Union. Against the backdrop of challenging economic prospects for 2023, the EIF intends to make progress with the InvestEU programme, REPowerEU and other initiatives, such as the European Tech Champions Initiative.

EIB Global

In addition to supporting Ukraine, EIB Global signed €9.1 billion in new financing in 2022, bringing to €10.8 billion the total volume of activity by the EIB subsidiary launched a year ago to step up operations outside the European Union.

Response to the pandemic

To mitigate the economic consequences of the pandemic, with the support of 22 Member States the EIB Group created the European Guarantee Fund (EGF) which, in around two years of activity, has provided €20.9 billion (from €24.4 billion available) in loans, guarantees and equity financing mostly to small businesses in the European Union. The financing provided under the EGF will help unlock investments worth around €183.5 billion.

Background information

The European Investment Bank (EIB) finances projects in four priority areas: infrastructure, innovation, climate and environment, and small and medium-sized enterprises (SMEs). Between 2019 and 2022, the EIB Group provided more than €46 billion in financing for projects in Italy.

The European Investment Fund (EIF) is part of the European Investment Bank Group. Its central mission is to support Europe's micro, small and medium-sized businesses by helping them to access finance and venture capital. The EIF is also active in supporting climate fund investments and infrastructure with a strong focus on environmental sustainability. In this role, the EIF fosters EU objectives in support of innovation, research and development, entrepreneurship, growth and employment.