Release date: 24 May 2024
Promoter – Financial Intermediary
ISTITUTO PER IL CREDITO SPORTIVO E CULTURALE SPALocation
Description
The Multiple Beneficiary Intermediated Loan (MBIL) will co-finance the refurbishment and upgrade of publicly-owned sports and cultural facilities across Italy.
Additionality and Impact
Investments in sports and cultural facilities are expected to have an urban regeneration effect and to promote the revitalisation of inner city areas. They can bring benefits in the form of promoting more sustainable and socially inclusive communities and can have direct and indirect social and economic benefits. The overall environmental and social impact of the Operation is expected to be positive, with good environmental standards and notable social externalities. More widely, the Operation is expected to contribute to improvements to the quality and attractiveness of the built environment and to contribute to climate action objectives. The EIB will provide favourable rates and long tenor to the financial intermediary, alongside with tailored product features well aligned with the financial intermediary's operating needs and with the underlying on-lending characteristics.
Objectives
The objectives include the refurbishment, upgrading and reconstruction of existing sports and cultural facilities exclusively owned by public sector entities, such as municipalities and provinces, throughout Italy.
Sector(s)
- Urban development - Construction
Proposed EIB finance (Approximate amount)
EUR 100 million
Total cost (Approximate amount)
not applicable
Environmental aspects
The promoter has to ensure that the final beneficiaries implementing the related sub-projects comply with the relevant EU legislation and the applicable national legislation in the field of environment, social and procurement, provided that it is in conformity with EU rules.
Procurement
The promoter has to ensure that contracts for implementation of the project will be tendered in accordance with the applicable EU procurement legislation, Directive 2014/23/EU / 2014/24/EU / 2014/25/EU as well as Directives 92/13/EEC and 89/665/EEC as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.
Status
Signed - 27/11/2024
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).