COUNTRY FOCUS : ITALY
EIB financing for urban areas , having received more than € 12 billion in the last five years . This operation brings EU bank support for Florence to over € 1 billion , meaning it has received more EIB investment than any other Italian municipality .”
Mayor of Florence , Dario Nardella , commented : “ Almost all EU-funded projects have environmental investments at their heart and this is key for cities because pollution and climate change are increasingly affecting our residents . The agreement will provide us with up to € 200 million from the European Investment Bank , a public bank aiming to promote the climate transition and urban regeneration in order to protect the environment .
“ It means that we are a reliable city for public banks like the EIB and that we make use of the EU funds we receive . We have built new schools and redeveloped many public spaces and will continue to do so in the coming years with various major projects , some of which have already begun . These include the
Between 2023-2027 , Smart City applications based on 5G , IoT and Artificial Intelligence in Italy will help to reduce city traffic costs by a total of approximately € 6.5 billion .
Sant ’ Ambrogio market , the Andrea del Sarto sports hall , the Don Milani school , earthquake-resistant improvements in local schools and many others , such as the completion of the ‘ bicipolitana ’ cycle network . All of these projects will be carried out using this loan , whose low interest rate will save us money compared to the interest we would pay on traditional bank loans . This signature will enable Florence to continue investing in many sectors .” p
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