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The underground rapid transit lines have been under construction for almost two decades due to various project delays
The aim is a wide-ranging cooperation over the next 3 years for the implementation of projects combating climate change
On 3 July 2020, the Italian city of Turin and the European Investment Bank (EIB) have signed a Climate framework agreement. The aim of the agreement involves a wide-ranging cooperation over the next three years for the implementation of projects combating climate change.
In this way, the bank of the European Union and the capital of Piedmont, have launched an operating phase based on potential investment operations, technical assistance for such investments and cooperation for the improved absorption of EU structural funds. In particular, the strategic sectors of the collaboration will include 4 key areas:
Once the projects have been identified together and evaluated positively, the broad collaboration will be applied on two levels:
Level 1: The EIB operates as a financial institution, with all the advantages in terms of maturity and cost (low interest rates) that its funding makes available to the loan beneficiaries.
Level 2: With a view to complementing EU structural funds, the EIB will play a technical and financial advisory role for projects promoted by the City of Turin, including via the implementation and management of financial instruments.
The European Bank has worked with Italy for more than 60 years. It has financed high-speed rail links, schools and universities and various urban renewal projects.
This represents the first climate agreement of EIB with an Italian city and the second one in Europe. The European Bank is committed to aligning all its financing activities with the climate goals stipulated in the Paris Agreement.
The underground rapid transit lines have been under construction for almost two decades due to various project delays
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The underground rapid transit lines have been under construction for almost two decades due to various project delays
At least, that’s the promise made by the mayor of Paris, Anne Hidalgo
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Apply by 10 November and do your part for the transformation of European public spaces
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