Brussels, 27/03/2013 (Agence Europe) - The financing contract for the BREBEMI (Brescia-Bergamo-Milan) motorway was signed on 25 March between the European Investment Bank (EIB), the Cassa Deposti e Prestiti Group (acting through the intermediary of CDP and SACE) and five Italian bank groups (Intesa Sanpaolo, Unicredit, MPS Capital Services, Centrobanca and Credito Bergamasco). In total, €1.520 billion will be made available to finance the completion of the 62km of motorway linking Brescia, Bergamo and Milan.
The EIB states in a press release that this new infrastructure will allow traffic to be reduced on the existing Lombardy motorway network - a key axis of the country's transport system - which will have the benefit of reducing the length and costs of journeys. The press release adds that the impact on the environment will also be positive because atmospheric pollution in the whole region, which is densely populated, will be less.
In the financial package, the CDP is due to lend €760 million directly to the BREBEMI project company, and €60 million should be made available through the channel of the five banks that are participating in the operation - which makes €820 million. Similarly, the EIB will provide €105 million directly to the BREBEMI company and €595 million through the intermediary of these member banks, in other words €700 million in all. The total sum of the EIB's intervention will be guaranteed by SACE, the Italian credit insurance company from the CDP Group. (OL/transl.fl)