CDP PUBLIC SECTOR CLIMATE ACTION MBIL

Promoteur – Intermédiaire Financier

CASSA DEPOSITI E PRESTITI

Lieu

• Italie

Description

A multiple beneficiary intermediated loan (MBIL) for the national promotional institution of the Republic of Italy, CDP, to finance eligible green smaller-scale infrastructure projects carried out by sub-sovereign public authorities (SSPA) and public entities.

Additionality and Impact

The proposed MBIL would be a pathfinder operation and would aim at financing small-sized infrastructural investments promoted by Italian public sector entities, to be allocated 100% under the green objectives window i.e. climate action & environmental sustainability (CA&ES). The loan will also have a significant impact on cohesion areas estimated at least at 30%-40%.

With the EIB support, CDP will be able to develop a new product dedicated to green investments targeting in particular smaller public sector entities. The blending of EIB loan at attractive pricing with CDP own resources will allow the latter to pass more favourable interest rate conditions to the final beneficiaries compared to the standard interest rate grid used by CDP for the sector, hence resulting in a tangible transfer of financial advantage.

Thanks to CDP's presence on the market, this loan will reach a significant number of Italian public sector entities and thus have a high economic effect throughout the national territory, helping the recovery from Covid-19 pandemic and mitigating the negative effect of the Ukraine crisis on the Italian socio-economic growth.

The financing of the EIB will also be complementary to the resources of the RRF, boosting public infrastructural investments, and will allow the EIB to reach a significant number of smaller public sector entities not having direct access to EIB funding.  

The provision of targeted technical support by the Advisory Department (EIAH) under the Green Gateway facility is under discussion to help CDP build capacity on sourcing and assessing the eligibility of green projects, but also to support it on reporting to EIB and using the Green Checker eligibility tool.

The operation will contribute to generate positive externalities through an improved provision of facilities, amenities and services, which will result in positive economic and social externalities, in the form of a higher quality of enabling services for businesses and economic activities, improvement of the quality of life of residents in Italy, reduction in carbon and air pollution. 

Objectifs

Financing of small/medium projects carried out by sub-sovereign public authorities (SSPA) and public entities.

Secteur(s)

• Lignes de crédit - Lignes de crédit

Montant BEI envisagé (montant approximatif)

EUR 100 million

Coût total (montant approximatif)

not applicable

Aspects environnementaux

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

Passation des marchés

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

Statut

Signé - 15/12/2022