€42 million loan granted
A Cassa Depositi e Prestiti (CDP) loan of more than €42 million is designed to help deliver the "Bosco dello Sport" project in Venice, creating a sporting and social hub which will improve inhabitants’ quality of life and attract people to the metropolitan area. The financing was granted to the Municipality of Venice for a project whose goal is to create a venue where high-level sporting events can coexist with music, culture and educational programmes, due in part to the presence of schools and training institutes. The facilities are being developed within an area of 110 hectares, of which 73 hectares will be woodland.
The CDP loan is in addition to funding from Italy’s Complementary National Plan, the Non-Delayable Works Fund, and resources made available by the Municipality itself. It further underlines CDP's role as a long-term lender supporting public entities. The transaction is fully in line with the 2022-2024 Strategic Plan, which aims to deliver inclusive and sustainable development, including through boosting innovative social infrastructure projects.
Specifically, CDP's support will be put towards constructing a multipurpose arena for indoor sporting events and shows, capable of accommodating up to 10,000 people. The venue will be cutting edge by European standards and is viewed as an integral part of the overall redevelopment project of the Tessera district, near Venice's Marco Polo airport.