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Italian sustainable tourism: the EIB and the banks finance it. Agreement with the Ministry for more competitiveness

500 million euro profits, through a pool of banks to renovate sites that are often not in line with environmental standards.

Italian sustainable tourism: the EIB and the banks finance it. Agreement with the Ministry for more competitiveness

Five subjects for a fund for sustainable tourism. There European Investment Bank and the Italian Ministry of Tourism have signed a financing agreement of 500 million euro that involves Intesa Sanpaolo Group, Finint BankSinloc spa. It is a Thematic Fund within the large container of the National Recovery and Resilience Plan. Among the expenditure guidelines, in addition to material interventions with low impact on the environment, urban regeneration interventions are also envisaged. Works that will have to give greater decorum and order to the contexts in which the structures are located. Specifically, the EIB will grant these funds to companies through Equiter, a partner of Banca Intesa Sanpaolo: the ceiling to be managed reaches 200 million euros. Banca Finint in collaboration with Finint Investments sgr and Sinloc spa will manage 175 million. To these two intermediaries will be added a third yet to be chosen, through one a manifestation has been conducted of interest. It will be recalled that Banca Intesa already is committed with Confindustria in supporting the sector after complicated years.

Italian tourism becomes more competitive

The construction or renovation of tourist sites must also include digitization projects. The projects will all be submitted to due diligence to access equity or quasi-equity loans. There EIB strategy to support high-yield productive sectors does not change. After a 2022 boom with 5,52 billion euros in loans to Italy, 2023 keeps pace. For Jasmine Vigliotti, EIB Vice-President, the Institute confirms itself as the “EU climate bank. "Promoting the development of sustainable tourism - he says - is essential to respect the environment, biodiversity, natural resources and contribute to the fight against climate change". Most of the Italian structures were built in the 70s and 80s. Beyond the phenomena of building speculation, sometimes remedied with amnesties and regularizations, sometimes not, everyone is almost late with environmental and energy standards; Evidently by 2030 they will have to be in place: The same story of the extension of bathing concessions directly affects the work of adaptation to the new parameters. Will the current managers do them or, rather, isn't it better to place them in the hands of whoever wins the new concessions, as the European Union says? The words of the Minister of Tourism must be interpreted in this perspective Daniela Santanchèotherwise the revitalization of the structures is instrumental. The money from the loan will have to strengthen the competitiveness of companies in the Italian tourism industry. But they are also “the testimony of how committed the Government is to relaunching such a vital sector for our economy” explained Santanchè. The whole system before the pandemic was valid 93 billion euros with 15% stable employment. There are cities that are destinations for international travelers throughout the year but which have very high percentages of environmental negativity, including non-renewable sources, non-compliant fume discharges, inadequate emergency systems. We are often reminded that Italy is the fifth most visited country in the world with 58 World Heritage Sites recognized by UNESCO. Investments with the new funds will be able to further mark this difference which is also economic and occupational.

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