The European Investment Bank (EIB) has signed a new strategic agreement with the Ministry of Economy and Finance and the Ministry of Defense, to further strengthen Italy’s security and defense capabilities.
This operation falls within the broader commitment of the EIB for European security and defense. Recently, it expanded its eligibility criteria to support military projects, in line with EU priorities.
The loan will be issued to the Ministry of Economy and Finance, which will then channel EIB resources to the Ministry of Defense. The favorable conditions offered by the EIB on international markets will allow the Italian government to make significant savings on interest over the course of 20 years.
This is the third agreement of this type between the EIB, the Ministry of Economy and Finance and the Ministry of Defense. In 2022, the EIB has issued 240 million euros to finance the purchase of 16 light helicopters for the Carabinieri and the modernization of the national air traffic control system, while in 2020 it issued 220 million euros for the construction of three hydro-oceanographic ships.
“_This agreement demonstrates the EIB’s growing commitment to supporting European security and defense and is the result of a fruitful and ongoing dialogue with the Italian government to promote strategic investments that strengthen Italy’s competitiveness and security_,” said the EIB Vice President Gelsomina Vigliotti. “_We will continue to work side by side with our partners to safeguard the strategic autonomy of the European Union_.”
Source: European Investment Bank (EIB)
Photo credit: Leonardo
