Brussels, 27/11/2008 (Agence Europe) - The European Investment Bank decided on Wednesday 26 November, to grant a loan of €100 million to the Municipality of Florence. The credit line will finance projects provided for under the Municipality's three-year plan (2009-2011), chiefly in the transport, health, education and cultural heritage sectors. In the past, the Bank has financed urban renewal, environmental protection and transport projects undertaken by the Municipality of Florence amounting to €375 million.
The new EIB loan will finance sustainable mobility (development of the tram network), road maintenance and repair work, the construction of cycle paths, car parks and bus lanes, and the restoration and upgrading of public buildings, schools and sports facilities to comply with safety standards. Projects in the cultural heritage sector will include the restoration of monuments, historical buildings, museums and arts centres. The loan will also serve to fund the refurbishment and expansion of public parks, the construction and renovation of children's playgrounds, and projects in other specific areas. It may also be used to finance the construction of social amenities and residences for the disabled. (O.L./transl.rt)