The European Investment Bank (EIB) and Italy’s Cassa Depositi e Prestiti (CDP) are providing €215 mln to build a new science and technology campus for the University of Milan.
The financing, partly backed by InvestEU, has been provided to Academo, a project company formed by Lendlease, and the Equiter Infrastructure II fund (managed by Ersel AM) to which the University of Milan has awarded the contract to design, build and operate its science and technology campus in the Milano Innovation District (MIND).
This funding is part of a larger €450 mln project focused on urban regeneration and sustainability in Milan that will accommodate more than 23,000 people, including students, researchers, teachers, and other staff.
The €215 mln comes from two sources: a €190 mln loan from the EIB with favorable terms for the borrower and a €25 mln VAT line from CDP backed by the InvestEU program from the European Commission.
EIB director of Equity, Growth Capital, and Project Finance, Alessandro Izzo, said: ‘Following the recent agreement with Polo Strategico Nazionale, this initiative confirms the EIB’s role as a key financial partner in project finance operations, with the goal of promoting this financial technique in support of strategic projects and partnerships in Italy.’
CDP head of Infrastructure, Carlo Lamari, commented: ‘This partnership with EU institutions has enabled us to help the University of Milan to implement a high-impact public-private partnership project of regional importance, with the main objective of improving university life for students in the new headquarters of the science faculty.’
University of Milan Rector Elio Franzini added: ‘The MIND campus will be a major project for the university and the city in coming years. It will have wide-ranging national and international impact, creating a sustainable, multidisciplinary university campus with services and infrastructure focused on cutting-edge scientific and technological innovation where students, teachers and technical and administrative staff will be able to engage in a renewed exchange of ideas.’
The campus is designed to be environmentally friendly, targeting LEED Gold certification, and using solar panels and groundwater for renewable energy. At the same time, electric vehicles will be the main mode of transportation within the campus.
This project aligns with the goals of both the EIB (supporting universities and research) and CDP (focusing on social infrastructure like universities).
