€600 million for Italy earthquake recovery

The European Investment Bank (EIB) and Italian state-owned bank Cassa Depositi e Prestiti (CDP) have agreed to provide a €600 million loan to support the rebuilding of industrial infrastructure in areas hit by the earthquakes in Emilia-Romagna in northern Italy last year.

In May 2012, two major earthquakes struck the region, causing fatalities and wide-spread damage. The first, a 5.9 magnitude temblor, occurred on 20 May, followed by strong aftershocks. The second, 5.8 magnitude quake hit nine days later and brought down buildings already weakened by the 20 May quake.