Institutional portal - Municipality of Milan

It is the European Bank's first agreement with an Italian municipality

Milan, 16 December 2020 – The Municipality of Milan receives a loan of 200 million euros from the EIB to cover part of the expenses necessary for the eco-sustainable development of the city and the protection of the environment. This is the first agreement of its kind signed between the European Investment Bank and an Italian municipality as part of the exceptional measures introduced to deal with the Covid-19 emergency.

"Milan has clear objectives, maintains its attractiveness and obtains the 200 million loan. This seems to me to be excellent news for the city - states budget councilor Roberto Tasca -. The fact that the EIB has identified our city as the first in Italy to grant loans in eco-sustainable investments means that Milan maintains its international attractiveness unchanged, having already begun important work on the environmental transition, which will be carried forward in the future, also thanks to these resources".

The loan, divided into two tranches, will be used by Palazzo Marino in multi-sector investments starting from the 2020-2022 three-year works plan: a range of interventions ranging from sustainable mobility to the redevelopment of urban spaces, from the energy requalification of public buildings to the management of urban waste.