Brussels, 26/11/2008 (Agence Europe) - The European Investment Bank has signed a €400 million loan to finance projects provided for in the Regional Operating Programme (ROP) for Calabria. The EIB will also advance another €50 million to support the activities of local small and medium-sized enterprises (SMEs).
The loan will supplement contributions from the Structural Funds (Regional Development Fund and European Social Fund) for the period 2007-2013, and finance the bulk of the Operating Programme's regional components, with the remainder coming from Community, national and private resources. ROP projects in energy, environment, transport networks and SMEs are eligible for EIB financing. This is the first EIB operation directly intended for Calabria and the very first intervention under the convergence objective within the new 2007-2013 Structural Funds programming cycle. It comprises direct financing of €400 million to the region to co-finance infrastructure while the €50 million loan for SMEs will be intermediated by banking institutions. (O.L./transl.jl)