Brussels, 14/10/2008 (Agence Europe) - In Luxembourg on Wednesday 8 October, the European Investment Bank (EIB) and the Ministry of Infrastructure and Transport signed a framework agreement for the financing of works provided for under the Italian Government's Ten-Year Strategic Infrastructure Plan.
Under the terms of the agreement, the EIB and the Ministry will step up their cooperation with a view to identifying projects covered by the Ten-Year Plan that are eligible for financing by the Bank. They will also jointly define the most appropriate financing structures and share the skills acquired by the Bank in its European operations, in the areas of structured and project finance, e.g. on issues such as competitive and negotiated procedures for the awarding of concessions under public-private partnership arrangements. The volume of finance that the EIB will be able to provide in support of economically sustainable infrastructure projects will be some €15 billion over the five-year period 2008-2012.
As in the past, EIB financing may take the form of investment promoted directly by the ministry or by state administrations and public enterprises, regions, regional public bodies and concession-holders. The Ministry of Infrastructure and Transport will hold meetings with these counterparties to inform them of the potential availability of finance from the EIB under the terms of this agreement. The loans may be intermediated by first-class banks or take the form of structured and project finance. Lastly, the Ministry will, in conjunction with the EIB, examine the opportunities for co-financing with the funds available through programmes of the European Union. (O.L./transl.rt)