The European Investment Bank (EIB) has agreed a further €2bn to help rebuild areas in central Italy damaged by earthquakes in 2016 and 2017.
Half the money will be a direct loan to the Ministry of Economy and Finance to repair public infrastructure, and the other €1bn goes to the Cassa Depositi e Prestiti bank for private residential and industrial property reconstruction.
The €2bn brings the EIB’s financing for the earthquakes to €4.75bn, almost 15% of the estimated €27bn needed in the Appennine regions of Abruzzo, Lazio, Marche and Umbria.
The Catholic charity Caritas said in the quakes’ aftermath that it may not be feasible to rebuild all of the damaged Medieval villages because of widespread depopulation.
Guido Castelli, Italy’s extraordinary commissioner for the 2016 earthquake, said the latest funding was “a major step forward in the reconstruction” of the area.
He said disbursements for private reconstruction increased by 16.64% in the first six months of 2024 compared to the same period in 2023, and 41.71% compared to 2022.
