A €90 million financing agreement was signed today in Livorno by European Investment Bank (EIB) Vice-President Gelsomina Vigliotti and President of Autorità di Sistema Portuale del Mar Tirreno Settentrionale Luciano Guerrieri, in the presence of the President of the Tuscany Region Eugenio Giani, the Mayor of Livorno Luca Salvetti, and Commander of port of Livorno Gaetano Angora. The goal is to support the modernisation and expansion of the Port of Livorno, helping to increase its productivity, safety, and environmental sustainability, according to European Investment Bank's release.
The funds made available by the EIB to expand the Port of Livorno, which forms part of the Scandinavian-Mediterranean corridor of the TEN-T network, will go towards the construction of the Darsena Europa container terminal, a strategic project to accommodate ships already operating in international traffic, to ensure the competitiveness of the Port of Livorno and safety of navigation there. In concrete terms, the main operations involve the construction of new breakwaters and related dredging activities, the definition of a containment area for sediment from dredging, and the construction of a new access channel to the port's terminals.
These infrastructure operations will not only help improve the efficiency and safety of the port, but will also increase its resilience to potential future climate events, such as sea level rise. They will also help improve the stability of the coastline thanks to the construction of a sand pipeline, which will be used for future nourishment of the sandy coast located immediately north of the mouth of the Arno river's floodway.
With this investment, total EIB support for Italian ports now exceeds €1.5 billion, reinforcing the EU bank’s role as the main financer of Italian port authorities, a vital sector for connectivity and national and European economic development.
The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It provides long-term financing for sound investments that contribute to EU policy. The Bank finances projects in four priority areas: infrastructure, innovation, climate and environment, and small and medium-sized enterprises (SMEs). In the past five years, the EIB Group has provided more than €58 billion in financing for projects in Italy.