Italian Government grants €500,000 for industrial zone development

The Italian Government granted €500,000 ($590,000) to support phase II of the development of industrial zones.

The project will be implemented by UNIDO in coordination with the Ministry of Industry and the Council for Development and Reconstruction (CDR).

Building on the results of the first phase of the project, UNIDO will continue providing technical assistance and advisory support to the government in deploying a national industrial zone development strategy for the development and management of sustainable industrial zones.

The Italian Government has granted €500,000 for the feasibility study of the first phase. Based on the studies, the development of infrastructure will require approximately $120 million and will generate between 27,000 to 31,000 jobs.

Cristiano Pasini, UNIDO Representative, said: “As a result of our technical cooperation in the first phase of this project, the European Investment Bank (EIB) will provide A €52 million ($61 million) loan to the government to build the required infrastructure."