EIB, CEB provide €1.5bn in financing for school buildings in Italy

The European Investment Bank (EIB) and Council of Europe Development Bank (CEB) have agreed financing worth a total of €1.555 billion to modernise Italian schools.

The EIB will provide €1.255 billion, while the CEB will provide €300 million. These funds will be deployed by Cassa Depositi e Prestiti in support of local authorities that own their school buildings. 

The loans are intended to fund operations in the fields of restructuring, compliance with safety and seismic standards, energy efficiency and the construction of new school buildings.