Italy is among the largest beneficiaries of the ‘Recovery and Resilience Facility’ (‘RRF’) under the Regulation (EU) 2021/241 (‘RRF Regulation’), with an estimated total allocation from the EU amounting to approx. EUR 191 billion. Green transition and digital transformation are identified under the Italian National Recovery and Resilience Plan (‘NRRP’) among the main transversal gaps to be filled, in order to achieve the recovery of the Italian economy, foster its resilience and ensure enduring growth. As part of RRF, the Italian Ministry of Economy and Finance (‘MEF’), acting as managing authority, has decided to dedicate resources to the implementation of a fund of funds (‘FoF’) managed by the EIB, in accordance with the provisions of a funding agreement signed between the MEF and the EIB on 22 December 2021 (the ‘Funding Agreement’). In particular, the collaboration between the MEF and the EIB will focus on two key thematic funds (‘Thematic Funds’) encompassed in the FoF.
The key thematic funds are:
• the support to sustainable tourism infrastructures and services (‘Tourism Thematic Fund’);
• the support to social housing and urban regeneration (‘Urban Integrated Plans Thematic Fund’).
Relevant rules for implementing the Financial Instruments in the context of RRF are primarily stipulated in the RRF Regulation and other applicable EU regulation, and applicable national law and regulations.
This call for expression of interest (‘EoI’) is addressed to financial intermediaries and institutions able to originate and manage financial instruments (mainly in the form of loans, equity and quasi equity investments), which are interested in receiving resources from the FoF for the implementation of the financial instruments in Italy. Such activities shall be carried out in accordance with the contractual agreements (‘Operational Agreements’) to be entered into by the EIB, acting as manager of the FoF, and the Selected Applicants. The funds shall be transferred from the FoF to the selected Financial Intermediaries for a specific period of time and purpose defined in the operational agreements.
Under this call for expression of interest, it is planned to allocate the following initial amounts:
• for the Tourism Thematic Fund: up to EUR 500 million (the ‘Tourism TA Initial Amount’);
• for the Urban Integrated Plans Thematic Fund: up to EUR 272 million (the ‘Urban Integrated Plans TA Initial Amount’).
The terms of reference including annexes can be downloaded on the page:
or requested by sending an email to GCSfirstname.lastname@example.org
with the subject: CEoI-1683 Fund of Funds Italy — request for documents.