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The EIB lends €300m to « green » the port of Genoa

Source: econostrum website
Date: December 14, 2021

ITALY. The European Investment Bank (EIB) is granting a framework loan of €300m to the Autorità di sistema portuale del Mar Ligure occidentale (Port System Authority of the Western Ligurian Sea) which administers the ports of Genoa, Pra’, Savona and Vado Ligure. This is its first operation in Italy for a project co-financed by the Italian State with resources from the Supplementary Fund of the Recovery and Resilience Mechanism.

The funds will be used to support investment in the largest renovation of the port of Genoa in 25 years, in particular to improve access. It will be used to build a new breakwater to limit the risk of flooding due to climate change and to facilitate the safe entry, loading and unloading of modern cargo ships. The Italian government is contributing €600m to the works, including €500m from the Supplementary Fund of the Recovery and Resilience Mechanism and €100m from the Port Infrastructure Fund

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