BAKU, Azerbaijan, January 30. The European Investment Bank (EIB) has signed financing agreements totaling 100 million euros with the Calabria Region to support youth employment, modern infrastructure, and the green transition, Trend reports.
The partnership was announced in Rome today by EIB Vice-President Gelsomina Vigliotti and Calabria’s President Roberto Occhiuto during a presentation on the EIB Group's activities in Italy for 2024.
These initial 100 million euros represent the first installments of a broader 300 million euro financing package approved by the EIB for the region, aimed at driving 1.6 billion euros in investments. The agreements feature favorable terms with a 25-year duration, ensuring long-term support for key projects.
The first financial package focuses on boosting sustainable agriculture and climate resilience in the region. The EIB financing will fund the creation of over 1,200 youth-run agricultural businesses, modernize 2,500 existing farms, and train over 10,000 individuals in areas such as organic farming, sustainable livestock practices, and innovation. The project also includes converting 115,000 hectares to organic farming and securing another 100,000 hectares to prevent hydrogeological instability. A key digital component will provide broadband access to more than half of the rural population.
The second package will enhance environmental sustainability with initiatives in clean mobility and the circular economy. The funds will help purchase eight bimodal trains (electric-diesel) and reduce water loss in the regional network, improving resilience against extreme weather events. The plan also includes waste recycling improvements and the construction of energy-efficient housing for 900 students in Cosenza and Catanzaro, as well as new centers for migrants and refugees.
Vice-President Gelsomina Vigliotti emphasized that these investments are vital for accelerating the green transition and fostering economic and social development in Calabria. She stated, "These agreements demonstrate the EIB’s commitment to supporting environmental sustainability and social cohesion in Europe."
President Roberto Occhiuto expressed his gratitude, noting that these projects represent significant opportunities for young agricultural entrepreneurs and the modernization of Calabria’s infrastructure. "Our region is eager to embrace innovation and sustainability. Our youth, who are our greatest asset, are ready to grow and develop in their homeland, but the region must become more modern and resilient," he said.