EIB promotes climate action by providing €300 million to finance Port of Genoa expansion
- This is the first EIB operation in Italy for a project co-financed by the government with resources from the Recovery and Resilience Facility Complementary Fund.
- €500 million has been allocated from the Recovery and Resilience Facility Complementary Fund for the Genoa breakwater.
- The EIB support will support the construction of a breakwater, allowing modern cargo ships to access the port safely and upgrading the rail network to facilitate freight transit and reduce road traffic.
- Shore-to-ship electrical connections will also be developed, allowing berthed ships to receive power from the ground-based electricity network, cutting emissions from fuel.