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17 September 2020

The 12.6 billion euro maxi-plan (the largest in its history) approved today by the Board of Directors of the European Investment Bank for a series of interventions in the transport, clean energy and urban development sectors. and to manage post coronavirus recovery.

And in this package, the most important loan - again a record - is the 2 billion euro loan for the Naples-Bari high-speed rail link, the largest loan ever granted by the EIB.

The loan was granted against a total cost of the work - whose completion is scheduled for 2027 and which is part of the 'unblock Italy' plan - amounting to six billion euros.

The high-speed project between Naples and Bari will reduce the travel time of direct trains between the two cities by two hours, which will thus pass from the current 3 hours and 40 minutes to an hour and forty.

The trains will be able to travel at a speed of 200 kilometers per hour on a track that is 140 kilometers long, which can be used for both passenger and freight transport, thus helping to reduce polluting emissions from road transport.

The project will extend the standards of the Scandinavian-Mediterranean Euroep (Ten-T) priority corridor to Bari, offering new development opportunities in line with the objectives set by the EU Geen Deal.

Its realization will allow the creation of 2,000 new jobs and another 200 will arrive to ensure the operation of the service.

In detail, in addition to that for our Tav, the interventions are concentrated for 3.1 billion for public health and the financing of Covid 19 companies, for 3.5 billion for private sector investments and working capital schemes.

Since the onset of the pandemic, the European Investment Bank has approved € 20.1 billion to enable public and private partners around the world to better address health, social and economic challenges.

The EIB board of directors, which met by videoconference, also expressed support for investments in agriculture, water, housing, telecommunications and urban development in Europe, as well as in Africa, Asia and Latin America.