Agreement with EIB for social housing and student accommodation

Intesa Sanpaolo’s IMI Corporate & Investment Banking Division and the European Investment Bank (EIB) have signed a new agreement aimed at supporting the development of new student residences and affordable housing in Italy.

Specifically, the EUR 300M covered by the agreement could support total investments estimated for approx. EUR 600M. EIB loan may cover up to 50% of the total cost of eligible projects, while the remaining 50% will be provided b0 they projects’ promoters through additional sources of funding and their own resources.

Intesa Sanpaolo will select projects that meet the criteria established by European regulations and by the European Investment Bank itself. In addition, it will act as a financial intermediary, making EIB resources available to public and private operators through dedicated financing transactions.

This agreement once again confirms Intesa Sanpaolo’s commitment to strengthening financial inclusion through social lending, credit to the third sector, financing of affordable housing and essential infrastructure, and credit to vulnerable people.