ICS SPORT AND CULTURAL INFRASTRUCTURE MBIL II

Promoter – Financial Intermediary

ISTITUTO PER IL CREDITO SPORTIVO

Location

• Italy

Description

The project consists of a Multiple Beneficiary Intermediated Loan (MBIL) to Istituto per il Credito Sportivo (ICS) supporting the refurbishment, upgrading and reconstruction of existing publicly-owned sports and cultural facilities across Italy.

Additionality and Impact

The Operation concerns investments in sports and cultural facilities in Italian cities within the context of planning-led integrated urban development strategies. Although there has been a continuous growth in sport practice and attendance to cultural facilities in Italy, this growth has not been matched by increased investments. The Operation addresses a more equitable access to sports and cultural facilities. Investments in sports facilities are expected to improve resident's quality of life, contribute to social inclusion and generate economic growth. Investments in cultural facilities promote the revitalisation of inner cities, contribute to the local patrimony and preserve cultural resources for future generations. In addition, energy efficiency investments contribute to reducing energy costs for municipalities and public bodies, which have been accentuated with the recent increases in energy prices due to the natural gas crisis and the Ukraine conflict.

Objectives

The MBIL will finance improvements exclusively promoted by local public authorities, at municipal and regional level.

Sector(s)

• Urban development - Construction
• Credit lines - Credit lines

Proposed EIB finance (Approximate amount)

EUR 100 million

Total cost (Approximate amount)

not applicable

Environmental aspects

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Procurement

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Status

Signed - 3/03/2023