CDP signs Memorandum of Understanding: 530 million euros for school construction

CDP signs Memorandum of Understanding: 530 million euros for school construction

In the presence of Italian Prime Minister Renzi, agreement starts new plan for school safety. In eight years CDP has invested 2.5 billion euros

Rome, November 22, 2016

CDP, in cooperation with the European Investment Bank (EIB) renews its commitment helping Italy’s economy and developing public infrastructure.

In this regard, a Memorandum of Understanding was signed that will allow CDP to allocate an additional 530 million euros in loans to Italy’s Regions to finance the modernization and renovation of schools. The funding arrives from a fresh loan issued by the European Investment Bank and guaranteed by CDP. The funding is part of a CDP track record of supporting similar initiatives, for a total of 2.5 billion euros in eight years.

The signing ceremony, held at the new complex of the Institute Selva Candida school in Rome, was attended by Italian Prime Minister Matteo Renzi, EIB Vice President Dario Scannapieco, and CDP CEO Fabio Gallia. The new plan for the building will be jointly supported by the Italian Ministries of Economy and Education, CDP,  and BEI.

 

 

"Today is an important day for us, because investing in human capital is one of the most important things that a country can do,” said Gallia. “The fact that the government has decided to invest in human capital is an important factor for the future".

The ceremony was held during the First National Day for Safety in Schools, an event that involves all the institutions of the Italian territory not only to promote the construction of safer buildings, seismically adequate and sustainable, but to create a greater awareness of safety among students.

Since its establishment in 1850, CDP has played a fundamental role in giving financial support to public entities in order to help the country grow and evolve. By acting as a bridge between the government and local authorities, CDP with this new operation continues in its work to promote the implementation of infrastructure in the country, in accordance with the guidelines laid down in the Business Plan 2020.