EIB Pledges USD126M to Enhance Italy’s Defense Capabilities
(MENAFN) The European Investment Bank (EIB) announced on Thursday a strategic financing deal with Italy worth €107.5 million ($126 million) aimed at enhancing the country’s defense and security capabilities.
“The EIB financing will contribute to the purchase of helicopters for the Italian army,” the EU’s lending institution stated.
This funding is part of the EIB’s wider commitment to bolstering European security and defense, following its recent expansion of eligibility criteria to include military projects aligned with EU priorities.
The terms of the agreement are designed to deliver significant interest savings for the Italian government over a 20-year period.
“This agreement shows the EIB’s growing commitment to supporting European security and defense, and is the result of ongoing fruitful dialogue with the Italian government to promote strategic investments strengthening the competitiveness and security of Italy,” said EIB Vice-President Gelsomina Vigliotti.
“We will continue to work side by side with our partners to safeguard the strategic autonomy of the EU," she added.
This deal marks the third defense-related agreement between the EIB and Italy. In 2022, the bank extended €240 million ($281 million) to fund 16 light helicopters for the Italian Carabinieri and modernize the national air traffic control system. Earlier, in 2020, it provided €220 million ($257 million) to support construction of three hydro-oceanographic vessels.
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