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Since its foundation, CDP has financed the construction, extension and renovation of school buildings of all levels, from kindergartens to universities, from art, music and dance schools to university residences.
CDP uses a range of instruments to support work on school buildings, either with loans repaid by local authorities, or loans with amortisation charges to be paid by the State. CDP also manages public funds for the construction of accommodation and residences for university students.
Loans repaid by local authorities
Loans repaid by the State
University Residences for the Ministry of Education
CDP loans with EIB Funding
Revolving Fund for Project Development
Unused financial resources
In the years 2010-2017 CDP granted about 2,800 loans to local authorities, to finance school construction works around the country:
Over the last 20 years loans repaid by the state have been granted through the programming of works divided into three-year overall plans implemented by the Regions (1,929.8 million euros), or to meet the various needs of the world of education as they come up such as:
In 2012 CDP invested earnings from capital of approximately 70.9 million euros in loans to the state to cover public debt, which were reallocated to safety interventions, seismic retrofitting and the reconstruction of school buildings damaged or rendered unusable following the earthquake in May 2012 in Veneto and Emilia Romagna.
CDP manages funds on behalf of the Ministry of Education, University and Research (MIUR) for the construction of university student accommodation and residences. The sums provided to date total over 707 million euros for the first three tenders. A budget of 54 million euros, plus earnings from previous tenders is available for a fourth tender. The interventions eligible for this tender are currently being decided.
As part of the national strategy in 2014 the Italian government launched “La Buona Scuola” (The Good School), a new plan involving a series of works aimed at securing, maintaining and renovating school buildings (financial resources provided for by Article 10 of Legislative Decree 104/2013).
Currently in the process of implementation, the plan has seen CDP fund a first tranche of projects in the period 2015-16 for a total of 905 million euros and a second tranche for a further 238 million euros in 2017,, calling upon the financial funding provided by the European Investment Bank (EIB). Loan agreements have been signed with 19 regions for extraordinary works directly performed by local authorities.
CDP has provided the beneficiaries with immediate resources on favourable conditions to fund specific projects identified by the regions, with the sums to be disbursed as the work progresses.
CDP manages funds on behalf of the Ministry of the Environment and Protection of Land and Sea (MATTM), which are used to increase the energy efficiency of school buildings, the so-called Kyoto Fund 3. This fund grants subsidised loans to public owners of properties used for school education - including nursery schools - university education and art, music and dance schools. CDP has already signed agreements under the fund with beneficiaries worth over 63.6 million euros and applications for funding requests are open until 30 June 2018.
CDP finances the design of school building projects through the Revolving Fund for Project Development with a sum of 120 million euros extended until 31 December 2018 as one of the “Buona Scuola” initiatives.
Finally, in February 2017, as one of the urgent measures for the people afflicted by the earthquakes of 2016 and 2017, the Italian government allocated resources to local financial institutions to check the seismic vulnerability of publicly owned school buildings and for the design of any seismic retrofitting interventions, allocating at least 20% of resources to local authorities in the regions most badly hit by the earthquakes of 2016 and 2017.
These resources, for more than 105 million euros, recovered on proven earnings on loans granted by CDP over time for school construction, will be provided after an agreement is reached with the Italian Ministry of Education.
Update to 31/12/2017