Release date: 20 May 2022
Promoter – Financial Intermediary
PUBLIC ENTITY(IES)Location
Description
The project concerns the construction, renovation, refurbishment, restoration and/or extension of academic, research and associated higher education infrastructure, including sports facilities and student residences. The programme loan will support the co-financing of capital investments in Italian public universities, who are also beneficiaries of capital grants from the Ministry of Universities and Research.
Additionality and Impact
The Project supports the expansion, renovation and modernisation of selected higher education institutions across Italy, which will live up to the highest standards of modern teaching, learning and research environments. This will generate positive externalities for society in terms of improved education provision and knowledge externalities from expanded and improved teaching, learning and research. The EIB brings a comprehensive financial contribution to the investment programme by providing borrowers with financial benefit and customized terms, such as longer term, availability periods and flexible tranching. The EIB also brings in technical expertise and aims to enhance the climate adaptation of the sub-projects.
Objectives
The project concerns the financing of construction, renovation and/or potentially restoration of academic, research and associated higher education infrastructure, including sports facilities and student residences. The programme loan will support capital investments in Italian public universities, who are also beneficiaries of capital grants from the Ministry of Universities and Research. The universities expected to receive complementary financing from the EIB are likely to include climate action and environmental sustainability objectives in their investment plans as well as universities located in supporting less developed and transition regions will be a priority. Universities and higher education institutions in any of the Italian regions may benefit from the programme loan.
Sector(s)
- Education - Education
Proposed EIB finance (Approximate amount)
EUR 500 million
Total cost (Approximate amount)
EUR 1400 million
Environmental aspects
Directive 2011/92/EU amended by Directive 2014/52/EU on Environmental Impact Assessment (EIA) does not specifically cover university and research infrastructure, leaving it at the discretion of the responsible competent authorities to request an EIA on the basis of the location and scale of the works concerned. However, university and research infrastructure may fall under Annex II of the Directive with respect to urban development. The public buildings will be required to at least meet the energy efficiency targets as defined in Directive 2010/31/EU on the energy performance of buildings and Directive 2012/27/EU on energy efficiency. Furthermore, the climate plans of the universities and/or their regions and application of adaptation measures will be assessed within the context of the proposed investments during the appraisal. Social and other environmental aspects as well as any aspects related to historical and cultural heritage will be further verified during the appraisal of the subsequent sub-projects.
Procurement
The Bank will require the Promoter to ensure that contracts for implementation of the project will be tendered in accordance with the applicable EU procurement legislation, Directive 2014/24/EU as well as Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with publication of tender notices in the Official Journal of the EU, as and where required.
Status
Approved - 13/07/2022
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).