The European Investment Bank (EIB) has approved a loan of up to €1,4 billion for Italy to support reconstruction and recovery. mass building safety in the Campi Flegrei area, an area affected by repeated seismic events and bradyseismic phenomena since May 2024.
The announcement came from the Minister for Civil Protection and Maritime Policies, Nello Musumeci, and EIB Vice President, Gelsomina Vigliotti, who confirmed the signing of the Project Contract.
The first tranche of the agreement with the Ministry of Economy and Finance—concerning funding for 2025-2026 and part of 2027—will be signed by the end of the year. The loan is structured as a multi-year framework and will be divided into two distinct programs: one for private homes and one for public assets.
In detail:
up to 550 million euros will be dedicated to the reconstruction and reduction of seismic risk of residential buildings;
Up to €850 million will finance the restoration and safety of public buildings and infrastructure in the municipalities of Naples, Pozzuoli, and Bacoli.
The direction of the interventions is shared:
Department of Housing Italy for the support of housing stock,
Department of Civil Protection for seismic and volcanic risk planning,
Special Commissioner for Public Buildings and Infrastructure for the Phlegraean Fields.
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The work, scheduled for completion by 2032, aims not only to repair the damage caused by the latest earthquakes—including the 4,6 magnitude earthquake recorded on June 30, 2025—but also to strengthen the area's overall resilience by adopting international standards for "build back better."
A model for other fragile areas
According to the EIB, the operation is not limited to an emergency response: it represents a structural investment in seismic risk management and climate change adaptation. The financing will also reduce overall costs for the state and attract additional resources, outlining a potential model that can be replicated in other geologically fragile areas of the country.
In recent years, the EIB has already supported post-earthquake reconstruction:
4,75 billion for the areas hit by the earthquakes in Central Italy (2016-2017);
€1 billion for the reconstruction of Ischia after the 2017 earthquake and the 2022 landslide.
"The signing of this agreement is a fundamental step for the safety of citizens and confirms the government's concern for the Phlegraean Fields," Musumeci said.
"The EIB supports Italy in strengthening climate prevention and adaptation, going beyond simply repairing damage," added Vigliotti.
Comments (1)
This is excellent news for Italy, especially for the Phlegraean Fields. I hope the funds are used well and there aren't problems like in the past with other funding that was lost or mismanaged.